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Skip the Savings Account: 5 Robo Investing Platforms to Try in 2019

Have you always been interested in stock investments, but also too intimidated to invest for yourself?

Only about 54 percent of Americans invest in stocks as of 2017. Many feel that they don’t understand the financial industry well enough to invest. Still, others think investing is too time-consuming or too risky.

Enter the trend of robo investing, where a computer invests your money for you.

With a robo investment app, you specify your goals and the amount of money you want to invest. A financial portfolio is created and managed for you based on that. Read on to learn about the top five robo investment platforms you can choose from.

1. Betterment

The point of robo investment platforms is for you to make money from low-risk investments without putting too much time or effort into it.

Betterment was among the first investing platforms of its kind. It currently manages 13.5 million dollars in assets.

This tool is touted as an overall great automatic investment platform. It has no minimum balance requirements, making it a good option if you don’t have much to invest.

It also has relatively low annual fees, ranging from 0.25 up to 0.40 percent of your opening deposit. Features like automatic tax loss harvesting make this an attractive foray into financial investing.

2. Sofi-Wealth

If you’re a student, you may recognize the Sofi-Wealth brand from loan options. Now, Sofi-Wealth has branched out into managed investing of the automatic variety.

With this platform, you can get access to a financial advisor and a wealth of financial planning resources. You can also get career counseling and other financial guidance if you invest in this company.

Sofi-Wealth’s investment management services are free of fees to anyone who has an existing loan with this company. If you are interested in an investment portfolio amounting to less than 10 thousand dollars, your management fees are waived as well. If your portfolio is above the 10 thousand dollar threshold, you will pay an annual fee of 0.25 percent of your existing balance.

3. WealthSimple

Are you interested in making socially-conscious financial decisions?

If so, revolutionary advances in Fintech can help you make a difference through your wallet.

WealthSimple is your best option for an investment portfolio that you’ll feel great about. You can opt into investing only in socially-conscious and eco-friendly stocks. Take a look at some WealthSimple reviews to know more about this option.

As an added perk, you also have access to a year of managed investment free of fees if your portfolio is under 10 thousand dollars when you first sign up. Advantages like automatic rebalancing, tax loss harvesting, and dividend reinvesting. You also have access to a human financial advisor on demand.

With fees of 0.50 percent for portfolios under 100 thousand dollars and 0.40 percent for total balances over that threshold, this is a great option for investors wanting to make a difference.

4. Ellevest: Robo Investing For Women

Are you interested in a robo investment platform geared toward females?

If so, say hello to Ellevest. Though Ellevest does not work with female investors alone, it presents certain opportunities of special interest to women.

Ellevest charges an annual management fee of 0.25 percent for portfolios worth under 50 thousand dollars. Investors whose account exceeds this balance can upgrade to a premium service which offers access to a team of financial advisors.

5. Schwab Intelligent Portfolios

If you’re interested in investing with a big-name brokerage with a long-standing reputation in the industry, look into Schwab Intelligent portfolios.

Schwab offers robust traditional investment options, but its new robo investment option is nothing to brush off, either. You pay no management or advisory fees at Schwab’s robo investment branch. However, you must invest at least 5 thousand dollars to start your diversified portfolio.


Learn More About Finances And Tech

The world of robo investing is still relatively new, but it is blooming. Now that you can grow your money by marrying your finances with technology, what else can you do with your tools?

Contact us for more tips, or click through our archives to learn about what’s possible with today’s cutting-edge technology.