If you are looking for low-cost financing suggestions, getting a robo-advisor may be a good choice. Since there are so many different types of online financial advisors, we are going to recommend 5 best robo-advisors for you.

Betterment

Betterment is one of the largest independent robo advisors. It works just like a professional fiduciary, which means that it will provide you with the advice that best suits your interest. Betterment enjoys a good reputation for its retirement advice and customer services. Beginning investors are especially recommended to use Betterment because it is easy to operate. Betterment has no minimum deposit. However, commodities are not included in Betterment’s asset allocation, and no direct indexing is available.

Wealthfront

Wealthfront is very popular among investors. Wealthfront is quite good at setting and reaching your goals. It will take your whole financial plan into consideration. The most unique feature of Wealthfront is that it can transfer your assets into a diversified portfolio, thus reducing your tax bill. Unlike Betterment, Weakthfront requires $500 as the minimum investment. The defect is that some sophisticated investors may find that Wealthfront lacks certain features such as fractional shares. In additions, Wealthfront has no large-balance discounts.

Ellevest

Ellevest provides three tiers of service beginning at $1 per month. It has a low account fee and goal-focused investing approach. The best feature of Ellevest is that it offers a portfolio mix that especially meet women’s needs. The disadvantage, however, is that there is no tax-loss harvesting. Besides, not all the members are not allowed to open Individual Retirement Arrangements (IRAs).

SoFi Automated Investing

SoFi mainly focuses on refinancing and loans. It provides flexible loan terms, and you can get most services for free. Besides, SoFi Automated Investing offers you a fully digital way to manage your money. The defect of SoFi is that it has no co-sign option, and it only considers applicants who have good credit.

Fidelity Go

If you are an investor that wants an all-digital robo-advisor, you may consider using Fidelity Go. It is powerful and low-cost with the service free for balance below $10,000. Fidelity Go allows  integration with other Fidelity accounts, and it can provide human portfolio insight. In addition, there are no investment expense ratios. The only defect is that it has no tax-optimization assistance.

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