What is a Robo advisor?
Source : schwab.com
It is a low cost method to choose the portfolio manager so that to a person can get help in choosing the funds to invest in. the robo advisors are the online and automated portfolio management services which are based on the rules and use of different algorithms prescribed by the computer companies, so that to provide the users to get an investment option on the basis of the risk bearing capacity as well as the quantum of time.
So in this era of the Robo advisors it is necessary to know the pros and cons of each and every company so that to choose the Robo financial advisor as per the need of the user. Following are some of the best Robo advisors in 2019 by FinanceShed available in the market to work with.
Source : financialsamurai.com
- The management fees charged is 0.25% and $500 account minimum.
- Wealthfront provides you the free management of the money up to first $5000 and have the low ETF expenses ratio. The company gives the facility of daily tax-loss harvesting. Also the automatic rebalancing facility is also possible with this company.
- There are some of the negative aspects also for this company such as it does not provide the facility of fractional shares and there will be no discount on the large balance managed.
Also Read : Knowing The Benefits Of Smart Finance
Source : businesswire.com
- The management fees charged is 0.25% and there is no account minimum needed.
- The benefit with this company is that they have the goal focused investing approach so that the investment prescribed will be very much precise. The company provides you the cash bonus up to $750 on the qualifying deposits.
- There are also some disadvantages like they do not provide the facility of no tax-loss harvesting as well as there are fewer accounts supported to be opened.
Source : cdn.thesimpledollar.com
- The management fees charged is 0.25% and there will no minimum account dollars required to be kept in the account.
- This company provides you the free management of the portfolio for a year with the qualifying deposits. The other facilities available are like no account minimum and the fractional shares limits the un-invested cash deposit in your account. Also it has the goal based tools which will help you grow your investments.
- The disadvantage with the company is that there is no direct indexing of the funds available.
Source : forexnewsnow.com
- The management fees charged is 0.40%-0.50% and there is no minimum account deposit required.
- There will be free management service available up to amount of $10000 in a year. The benefits like having a free access to the human advisor and also free portfolio analysis is taken care of. There will be benefit of free tax-loss harvesting.
- There will be some of the disadvantages also with this company that the fees charged by them to manage the asset is very much high so the returns will appear to be less. Also the personal finance tools available are very much limited in the amount.