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The best robo-advisors have low fees, copious portfolio options, flexible account types, and easily accessible customer service. You can invest in various assets with automated investing platforms, including mutual funds, index funds, crypto, etc.
Investing through a robo-advisor could be a method of generating passive income.
Here are the best robo-advisors (aka automatic investing platforms) that Business Insider's editors picked in 2024.
Best Robo-Advisors of 2024
Best overall Betterment Investing
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum$0 to open, $10 to start investing ($100,000 for premium plan)
Fees$4 per month (or 0.25%/year) for digital plan; 0.40%/ year for premium plan; 1%/year for crypto portfolios
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum for standard investing account
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Goal-based planning, tax-loss harvesting, charitable giving, and socially responsible investing available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to certified financial planners
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Mobile app with external account syncing options
- con icon Two crossed lines that form an 'X'. You'll have to pay to consult a human advisor, unless you have the premium plan
- con icon Two crossed lines that form an 'X'. $4 monthly fee (or 0.25% annual fee)
Betterment is best for hands-off investors who want to take advantage of professionally built, personalized ETF and cryptocurrency portfolios. The platform offers CFP access, so it could suit those in search of additional guidance from human advisors.
Betterment Product Details- Promotion: None at this time.
- App store rating: 4.7 iOS/4.5 Android
- Consider it if: You want access to robo-advice with multiple service levels.
Betterment is the overall best robo-advisor. It's at the top of our list for its low fees, diverse investment products, account flexibility, and portfolio options (including cryptocurrency portfolios).
Betterment offers two plans: digital and premium. This robo-advisor also offers access to CFPs, but you can only take advantage of unlimited guidance if you're enrolled in its premium plan. You won't need a minimum amount to set up its digital plan, but you'll need to meet a high minimum deposit requirement for the robo-investing premium plan.
What to look out for: If you don't have at least $100,000, you won't get unlimited access to a CFP; you'll have to pay for each consultation.
Best for beginners Fidelity Go
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum$0
Fees0.35% for accounts with balances of $25,000 or more
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low-cost, hands-off investment account that combines automated features with management from a team of human investment professionals
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No expense ratios
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Great for those who want to start investing with an account balance below $25,000 (Fidelity Go charges $0 for balances below this amount)
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Supports individual, joint, traditional IRA, Roth IRA, rollover IRA accounts, and HSA
- con icon Two crossed lines that form an 'X'. Can't actively trade different investments or capitalize on short-term stock market trends
- con icon Two crossed lines that form an 'X'. Doesn't offer ETFs
- con icon Two crossed lines that form an 'X'. No tax-loss harvesting
Fidelity Go is one of the best robo-advisors for mutual funds. It's best suited for hands-off investors looking for automated investment management with low fees, and it doesn't require an account minimum to get started.
Fidelity Go Product Details- Promotion: None at this time.
Fidelity Go is the best robo-advisor for beginners that offers low-cost personalized portfolios based on answers from a short questionnaire about risk tolerance, investing goals, and time horizons. Plus, it only has a $0 minimum and generally low fees.
Most robo-advisors use investment funds (ETFs or mutual funds) with expense ratios. One of the best parts about Fidelity Go is that it is also one of the best robo-advisors for low fees. The platform relies on mutual funds (i.e., Fidelity Flex mutual funds) that don't contain expense ratios.
What to look out for: Fidelity Go doesn't offer tax-loss harvesting, and those over $25,000 must pay a 0.35% advisory fee. You also don't get access to human advisors unless you have at least $25,000 in your account.
Wealthfront Investing Start investing On Wealthfront's website
Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum$1 ($500 for automated investing)
Fees$0 for stock trades. 0.25% for automated investing (0.06% to 0.13% for fund fees)
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low annual fee for investment accounts; crypto trust investments available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Tax-loss harvesting, portfolio lines of credit, 529 college savings plans available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cash account
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Mobile app and investing and retirement tools
- con icon Two crossed lines that form an 'X'. You need at least $100,000 to utilize additional investment strategies
- con icon Two crossed lines that form an 'X'. No human advisor access
Wealthfront is one of the best robo-advisor options if you're in search of low-cost automated portfolio management, and one of the best socially responsible investing apps for features like tax-loss harvesting, US direct indexing, and crypto trusts.
Wealthfront Product Details- Consider it if: You're balancing several goals and want to streamline your finances.
- Promotion: Fund your first taxable investment account with at least $500 in the first 30 days of account opening and earn a $50 bonus.
Wealthfront Investing is a pioneer in the robo-advisor space, similar to Betterment. If you have at least $100,000 to invest, you can access Wealthfront's US direct indexing and risk parity investing strategies. Direct indexing allows you to harvest losses on individual stocks to reduce your overall tax liability.
Wealthfront offers socially responsible portfolios, tax-loss harvesting, smart beta investing, and risk parity portfolios. While it's great for those who want exposure to cryptocurrencies, it protects your portfolio against risk by only allowing an allocation of 10% for crypto trusts.
Wealthfront also now offers an automated high-yield bond portfolio which hands-off traders can get a customized low-cost bond ETF portfolio. Wealthfront Automated Bond Portfolio pays a 5.50% yield, which is even higher than Wealthfront's cash account, which pays 5.00% APY.
What to look out for: You won't get access to ongoing, one-on-one advisor consultations at Wealthfront, and you'll need at least $100,000 to use strategies like direct indexing and risk parity.
SoFi Invest® Start investing On SoFi's website
Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Info icon Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.Account Minimum$0 ($1 to start investing); $5 fractional shares; $2,000 for margin trading
Fees0% for active trading and automated investing
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account minimum
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account or trading fees, and low fees to own funds
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to Certified Financial Planners at no additional charge
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. IPOs available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. SoFi 1% IRA match
- con icon Two crossed lines that form an 'X'. No tax-loss harvesting, an advanced investing technique where you sell a stock or mutual fund at a loss for a tax benefit
- con icon Two crossed lines that form an 'X'. No option for stop-loss orders when actively investing. SoFi's active investing account only uses market orders
- con icon Two crossed lines that form an 'X'. Currently only available to US residents
SoFi Invest is a great platform for US investors who are looking for an intuitive online trading experience, an open active or automated investing account.
SoFi Invest Product Details- Promotion: Get up to $1,000 in stock when you fund a new account.
- App store rating: 4.8 iOS/3.8 Android
- Consider it if: You want an easy-to-use platform paired with rock-bottom pricing.
SoFi's robo-advisor has several perks: It has a $0 account minimum, doesn't charge any fees, and provides complimentary CFP access. And like several other investment platforms mentioned in this list, you can also invest on your own, thanks to SoFi's active investing accounts.
In addition to automatic portfolio rebalancing and goal planning, the robo-advisor invests your funds into a diversified mix of SoFi and non-SoFi ETFs. SoFi's robo-advisors also support multiple accounts, including individual and joint accounts, traditional IRAs, Roth IRAs, SEP IRAs, and 401(k) rollovers.
What to look out for: SoFi Invest® automated portfolios don't offer tax-loss harvesting.
Best for account flexibility Charles Schwab Intelligent Portfolios
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum$5,000
Fees0%
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No advisory fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automatic rebalancing; portfolio re-adjusts back to target allocation any time you withdraw or add funds
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. More than 51 ETFs available (including Schwab ETFs)
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. 24/7 customer support
- con icon Two crossed lines that form an 'X'. $5,000 minimum is on the higher side
- con icon Two crossed lines that form an 'X'. Tax-loss harvesting only available for those with $40,000 in their account
Schwab Intelligent Portfolios is one of the best robo-advisors for hands-off investors in search of automated investment portfolios and access to goal planning, multiple types of accounts, and features like tax-loss harvesting.
Schwab Intelligent Portfolios Product Details- Promotion: Referred users can get up to $1,000
- Mobile app ratings: 4.8 iOS/3.8 Android
Charles Schwab's most basic automated investing account, Schwab Intelligent Portfolios, offers personalized, self-managing ETF portfolios. While this robo-advisor's account minimum is higher than most other robo-advisors, it makes up for its lack of advisory fees.
The automated accounts also offer automatic rebalancing, and it re-adjusts your portfolio's target allocation any time you add or withdraw money. Schwab Intelligent Portfolios gives you access to more than 51 ETFs (including Schwab ETFs), and it supports individual and joint accounts, trusts, custodial accounts, and IRAs.
You can even use tax-loss harvesting, but this feature is only available to those with at least $40,000 in their robo accounts.
What to look out for: You'll need at least $5,000 to set up a robo account.
Schwab Intelligent Portfolios review
Best for mobile E*TRADE
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum$0 ($500 Core Portfolios)
Fees0% (0.30% Core Portfolios)
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No commissions on US-listed stocks, options, and exchange-traded funds
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Wide selection of investments available for most accounts
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Thousands of no-load, no-transaction-fee mutual funds available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive mobile and online offerings for digital investors and traders
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. 24/7 support and live chat
- con icon Two crossed lines that form an 'X'. Need at least $500 for automated investment management
- con icon Two crossed lines that form an 'X'. Infrequent traders pay more for options contracts
E*TRADE is a great fit for frequent traders interested in low-cost stock, ETF, and options trading. The brokerage also offers a robust mobile app for Apple and Android devices, and it supports less active investors through its managed and automated portfolio offerings.
E*TRADE chevron down icon An icon in the shape of an angle pointing down.E*TRADE Core Portfolios is E*TRADE's robo-advisor, requiring a $500 minimum and 0.30% annual fee. You can use tax minimization strategies, socially responsible and smart beta portfolio options, and multiple account types (i.e., you can automate individual and joint accounts, custodial accounts, and IRAs).
E*TRADE's automated investing mobile app allows commission-free trading of stocks, ETFs, mutual funds, and options. The app lets users manage their money, transfer cash, deposit checks, and pay bills. The robo-advisor also includes Bloomberg TV, which gives investors third-party research and news updates.
What to look out for: You can't be able to speak with a human advisor unless you've got at least $25,000, and the annual fee exceeds that of many competitors.
Best for retirement plans Vanguard automated investing
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star FeesSee Terms
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Commission-free stocks, ETFs, and options
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Brokerage, automated, and advisor-managed accounts available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Thousands of low-cost mutual funds
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Multiple resources with expert analysis and market insights
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several retirement accounts and services for retirement plan participants
- con icon Two crossed lines that form an 'X'. Higher options contract fee than other discount brokerages (Vanguard charges $1 per options contract)
- con icon Two crossed lines that form an 'X'. No separate trading platforms for advanced traders
- con icon Two crossed lines that form an 'X'. No cryptocurrencies
Vanguard Digital Advisor is one of the two automated investing accounts (the Vanguard Personal Advisor Services account is the other option) online brokerage Vanguard provides.
This robo-advisor mainly allocates your assets across four Vanguard ETFs. These include the Vanguard Total Stock Market ETF, Vanguard Total International Stock ETF, Vanguard Total Bond Market ETF, and Vanguard Total International Bond ETF. You'll be subject to expense ratios.
In addition, Vanguard Digital Advisor supports individual and joint accounts, traditional IRAs, Roth IRAs, rollover IRAs, and eligible Vanguard-administered 401(k) retirement accounts. The robo-advisor also offers retirement tools and resources like tax-loss harvesting and socially responsible investing options.
What to look out for: Vanguard Digital Advisor has a $5,000 account minimum.
Vanguard Digital Advisor review
Best for socially responsible investing Interactive Brokers
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum$0 ($100 Interactive Advisors automated accounts)
Fees$0 for IBKR Lite; $0 IBKR Pro (per-share commissions apply)
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low commissions and fees
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. International trading opportunities
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive trading platforms and tools
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several account types available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Thousands of no-transaction-fee mutual funds
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cryptocurrency investing available for bitcoin, bitcoin cash, ethereum, and litecoin
- con icon Two crossed lines that form an 'X'. Less active traders pay more for IBKR Pro
- con icon Two crossed lines that form an 'X'. Website can be tricky to navigate
Interactive Brokers is one of the best online brokerages for advanced, active investors who trade securities frequently and value access to market analysis and trading platforms.
Interactive Brokers brokerage Product Details- Promotion: None at this time.
Interactive Advisors is Interactive Brokers' automated investing account. While fees and minimums can be on the higher end with this robo-advisor, one of the highlights of this account is that it offers more a wide range of portfolios.
In addition, the robo-investing platform provides four different ETF portfolio options: asset allocation, actively managed, smart beta, and socially responsible. The asset allocation portfolios focus your funds into a diversified portfolio, but Interactive Advisors' actively managed portfolios utilize the expertise of its team and registered investment advisors (RIAs).
With its smart beta portfolios, you'll gain exposure to a strategy that seeks higher returns, and its socially responsible option (ESG portfolio) invests in companies that positively impact the world.
What to look out for: Investment minimums and fees for actively managed portfolios are higher. You may need as much as $50,000 to get started with this automated investing platform.
Best for investing and banking with the same platform M1 Finance
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAccount Minimum$100 ($500 for IRAs)
Fees0% (cryptocurrencies are commission-free, but Apex Crypto takes 1% fee on transactions); $10/month M1 Plus
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to more than 80 professional portfolios
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Fractional shares and individual stock or ETF orders available; cryptocurrency trading
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated investing available at no additional fee for standard accounts
- con icon Two crossed lines that form an 'X'. Investment options are limited to stocks, ETFs, and cryptocurrencies; no tax-loss harvesting
- con icon Two crossed lines that form an 'X'. Only M1 Plus members can trade crypto 24/7
- con icon Two crossed lines that form an 'X'. Trading window limits your control over investment transactions
- con icon Two crossed lines that form an 'X'. No human advisor support
M1 Finance is one of the best investment apps and could be a good choice if you're interested in trading stocks, ETFs, fractional shares, and cryptocurrencies. It offers both DIY trading and automated account features that make it suitable for both active and passive investors.
M1 Finance Product Details- Promotion: New M1 Finance users who open a brokerage account can earn up to $500 if they invest at least $75 in their account within 14 days of opening (offer ends December 31, 2024)
M1 Finance is the best robo-advisor for folks looking to invest, bank, and borrow under the same automated platform. Both hands-on and hands-off investors can benefit from this robo-advisor as it provides money management tools, attractive investment options, loans, credit, and mobile access.
M1 Finance's robo-advisor offers multiple investment options (such as stocks, ETFs, fractional shares, and crypto), DIY trading, and automatic investing options. Moreover, M1 Plus members can access loans, high-yield savings accounts, and the M1 Finance credit card.
What to look out for: M1 Finance doesn't offer human advisor access or tax loss harvesting features.
Introduction to Robo-Advisors
Robo-advisors use AI algorithms to customize and manage automated investment portfolios. Investment managers and brokers have been using robo-advisors since the 1980s. But now, consumers can use these robo platforms directly, making investing more accessible for beginners.
The algorithms used by robo-advisors were designed to choose investment options that maximize returns for investors without subjecting them to unnecessary risk. Moreover, the AI incorporates your individual risk tolerance, time horizon, and investing goals to customize your portfolio.
Still, robo-advisors require ongoing maintenance and rebalancing to keep your investments on track to reach your goals.
Getting Started with a Robo-Advisor
You can open some of the best robo-advisor accounts online or through a traditional brick-and-mortar brokerage firm. Traditional, in-person broker firms are often best suited for higher balances and may charge more fees. Online robo-advisors, however, tend to have lower fees and are suitable for smaller balances.
You must provide basic personal information to open a robo-advisor investment account. This may include your name, age, address, Social Security number, and bank information. Once you sign up, you can start depositing funds and investing.
The best robo-advisor for you varies depending on your risk tolerance, time horizon, and how much you're willing to invest. You'll also want to research robo-advisors that offer features like tax loss harvesting, automatic portfolio rebalancing, 24/7 customer support, low fees, and socially conscious investing options.
Choosing the Right Robo-Advisor
Robo-advisors are popular automated investment platforms for passive and beginner investors looking for accessible market access and hands-off trading strategies. A robo-advisor is generally a cost-effective method of investing with low fees and minimum deposits.
When choosing the right robo-advisor, look for a platform offering diverse investment options and features that best suit your needs, whether for tax-efficient investing with robo-advisors or robo-advisors with human advisor access. Robo investing platforms mainly offer ETFs, but other advisory platforms may also offer other asset classes like stocks, mutual funds, and options.
Robo-Advisor FAQs
Which is the best-performing robo-advisor? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Some of the best-performing robo-advisors include Betterment, Wealthfront, M1 Finance, SoFi Automated Investing, and Fidelity Go. But keep in mind that even the best robo-advisors still pose a level of risk. There's always a possibility that your investments will drop in value.
What is the average return on a robo-advisor? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Robo-advisors with a five-year return generally have an annual average return from 2% to 5%, according to data from Vanguard.
What are 2 cons of using a robo-advisor? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Cons of investing through a robo-advisor include a lack of investment flexibility and a lack of personalized management and guidance. Investors won't be able to pick and choose individual stocks or other assets through a robo-advisor. Robo-advisors also largely rely on pre-built portfolios that are only tweaked to match the personal preferences of individual investors.
Why You Should Trust Us: Our Expert Panel For The Best Robo-Advisors Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
We interviewed the following investing experts to see what they had to say about the best robo-advisors.
- Sandra Cho, RIA, wealth manager, and CEO of Pointwealth Capital Management
- Tessa Campbell, Investment and retirement reporter at Personal Finance Insider
What are the advantages/disadvantages of investing through a robo-advisor?
Sandra Cho:
"Advantages include:
- On-demand general guidance: In my experience, robo-advisors are best used as a starting point to determine risk tolerance and get a handle on your financial situation and a broad roadmap to what you need to do. Sometimes you just need a catalyst to get moving in the right direction.
- Simple to use.
- Feeling of control: There is no concern about hurting a person's feelings if you don't take their advice, and you don't feel rushed or pressured."
"Disadvantages of using a robo-advisor
- No one is second-guessing you. Sometimes, you need someone to read between the lines. Maybe you think you are an aggressive investor who can tolerate high risk, but you pull all your money out the minute your portfolio goes down. The risk tolerance result I get if clients complete the questionnaire alone is significantly different than when I walk them through the questionnaire.
- Lack of EQ, or emotional IQ. EQ is sometimes more important than IQ. It's hard for a robo-advisor also to tell you what you don't know that you don't know. It's hard for a robo-advisor to help you work through concerns, fears, and anxiety and help keep you invested through turbulent markets and life events that inevitably affect your financial path."
Tessa Campbell:
"Robo-advisors do the hard, time-consuming part of investing for you. Once you set your goals, risk tolerance, and time horizon, a robo-advisor can create a customized investment portfolio based on those characteristics. This makes these platforms accessible to beginners and ideal for passive investors.
"Robo-advisors also tend to be the better option for folks wanting low-cost investing as most robo-advisors mainly trade ETFs.
"However, robo-advisors can be limiting. You won't get the same level of control or influence over your assets as you would with self-directed investing or a professionally managed platform. If you want to pick and choose how you invest your money, then a robo-advisor isn't the best option for you."
Who should consider opening a robo-advisor?
Sandra Cho:
"Someone who is a DIY investor and is tech-savvy enough to use the software involved. Larger groups of people need to be processed faster, such as participants in a 401(k) or other retirement plan.
"Investors who have smaller amounts of assets might not have the need for sophisticated financial planning."
Tessa Campbell:
"Robo-advisors are best for beginners and passive investors who don't want to be glued to their computers, watching the ups and downs of the market and trying to decide when is the best time to buy and sell.
"It's also the better option for cost-conscious investors. With a robo-advisor, you can easily and affordably get exposure to different sectors of the market with low-cost ETFs. This way, you're paying the price of individual stocks."
Is there any advice you'd offer someone who's considering opening a robo-advisor?
Sandra Cho:
"1) Treat it like a starting point, not the endpoint.
2) Find a good one. Not all robo-advisors are the same. Like financial advisors, there are good and bad ones.
3) Be aware of the investments you have, and do not have, through the robo-advisor you use. For example, if you are using a robo-advisor at a particular investment company, that robo-advisor will likely limit their recommendation to the mutual funds or other investments of only that company."
Tessa Campbell:
"Make sure to compare all the robo-advisor options before opening an account. Not all robo-advisor provide the same investment options, account types, or features. And while many robo-advisors have low-trading fees and account minimums, not all of them do, so make sure you know what you're getting into before opening a brokerage account with an automated investment platform.
"On a different note, make sure that you still frequently monitor your investment portfolio. Although you won't do much on the day-to-day, it's important to update your portfolio based on your current goals, financial situation, and market performance."
Methodology: How to Choose a Robo-Advisor
We used Business Insider's methodology for rating investment platforms when reviewing nearly two dozen robo-advisors to find the best platforms for low fees, portfolio types, human advisor access, and customer service. We also favored platforms that offered a range of other features and products, such as tax-loss harvesting and flexible account types. Investment platforms are given a rating between 0 and 5.
Tessa Campbell Investing and Retirement Reporter Tessa Campbell is an investing and retirement reporter on Business Insider’s personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.ExperienceTessa currently reports on all things investing — deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insider’s guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise: Tessa’s expertise includes:- Credit cards
- Investing apps
- Retirement savings
- Cryptocurrency
- The stock market
- Retail investing
Elias Shaya Compliance Associate Elias Shaya is a Compliance Associate on the Personal Finance Insider team based in New York City, which ensures content accuracy and editorial independence so readers are always getting up-to-date and objective financial advice.The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Elias is the point person for the loans sub-vertical and works with the editorial team to ensure that all rates and information for personal and student loans are up-to-date and accurate.He joined Insider in February 2022 as a fellow on the compliance team. Read more Read less Top Offers From Our Partners 
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