6 Best Robo Advisor Apps – Improve Your Financial Future
Today’s world is a bustling place: somewhere between all of our important obligations (work, family, friends, and food, to name a few!) we need to find time to manage, maintain, and build wealth. With robo investing apps steadily gaining dominance in the financial sector, the answer to why a robo-advisor is the best option for investors-on-the-go is clear: they are available 24/7 and based on sound investment research.
The increasing availability of robo advisors makes it easier than ever to build wealth on your schedule. Of course, choosing one robo-advisor app out of many can be overwhelming. Where do you start? What are the best robo-advisor investing apps, anyway?
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*Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link.
Don’t worry—that’s where we come in. We’ve done the research and compiled a list of the 6 best robo-advisor investing apps you just have to try.
1. Empower (formerly Personal Capital): Free Investment Analysis and Management Dashboard
Empower (formerly Personal Capital) is one of those robo-advisors you must sign up for if you have assets or investments in multiple accounts and need to keep track of them all in one place. Empower is actually two offers: a free budgeting, investment, retirement planning tracking and management tool, and a paid investment management service with financial advisors. The free tools are useful for anyone with a few investments seeking one place to view all of your financial accounts, including your loans and home value, in one place.
The Empower highlights include:
- Outstanding free basic features, including retirement planning tools.
- The ability to link accounts from multiple banks or investment companies.
- Easy-to-use dashboard that shows you everything—it’s like Mint.com, but more comprehensive.
- The paid plan gives you access to your own certified financial planner and many more features.
2. M1 Finance: Start Investing with Only $100!
M1 Finance is one of the best robo-advisor investing apps with a low initial investment requirement. New accounts can be started with as little as $100, which makes M1 Finance accessible to new investors and those looking to dabble in the robo-advisor app scene for minimal risk. Even better: M1 Finance is flexible in that it can either set new investors up with pre-made portfolios, or investors can create their own!
We love that M1 Finance has:
- Customizable portfolios—just set your preferred allocations, and M1 Finance balances your portfolio automatically.
- Access to 6,000 stocks or ETFs traded on the NYSE, NASDAQ + BATS exchanges
M1 Finance is free with no management or trading fees. - Socially-conscious investing options.
- Income, hedge fund and retirement portfolios.
- Cryptocurrency digital coins available (trading fees apply).
3. SoFi Automated Investing: Best for Free Management and Financial Advisors
You might know SoFi because of it’s student loans or the beautiful SoFi stadium in LA. But SoFi is also one of the best robo advisor apps. With free investment management, no minimum investment requirements, and access to financial advisor and career consultant appointments, there’s a lot to like. You might even name it a “best stock advisor app.”
The main benefits of SoFi Automated Investing are:
- Access to a well-diversified automated investment advisor plus stock, crypto, and ETF investing.
- The diversified SoFi Automated Investing accounts include growth stocks and high yield bonds.
- No management fee or investment minimum.
- Any investor can schedule a half-hour financial planning appointment.
4. Bettterment: One of the Best Robo-Advisor Investing Apps for Millennials
Betterment is a great robo-advisor app for millennials, but it has a lot to offer any investor. Betterment is a goals-based investment manager with no minimum investment amount. It boasts reasonable fees, starting at 0.25% AUM. Betterment offers a basic all-digital service and Betterment Premium for investors with at least $100,000 seeking unlimited financial advisory appointments.
Betterment is a great robo-advisor app because it has:
- Opportunity to invest in smart beta, socially responsible, income portfolios and crypto.
- The most comprehensive goal-based choices for your investment management.
- Two cash accounts, Checking and high yield Cash Reserve with extra benefits and higher yields for your cash, through partner banks.
5. Wealthfront: Great Customization Options Including Crypto
Wealthfront is one of our robo-advisors with the most AUM in 2022, proving their popularity. This robo-advisor makes it easy for investors to see whether, and how, life milestones effect your account with their top notch, Path digital financial planner. Thinking of buying a house in the near future? You’ll be able to see what impact that purchase has on your retirement prospects!
Investors using the Wealthfront robo-advisor app will find:
- Free cash bonus for new investors (with the link below).
- Answers to up to 10,000 financial questions through the robo-advisor itself.
- Can customize the risk and goals-based portfolio with additional ETFs and crypto funds.
- Direct stock investing for larger investors.
- Fee-free stock trading account.
- Access to hundreds of ETFs (including crypto) for customization.
- Fee-free stock trading account.
6. Titan
The Titan Invest App is a niche product for investors who want “hedge-fund” type investments. The Titan investment strategy is unlike that of the other robo investing apps. They select stocks from publicly available documents, that hedge funds have recently purchased. To offset the risk of an all stock fund portfolio, Titan includes an inverse S&P 500 ETF. This inverse ETF is an attempt to curtail large stock market losses.
Titan Invest offers 3 hedge fund type portfolios, alternative funds and automated investing strategies:
- Titan Flagship Fund – launched February 20, 2018
- Titan Opportunities Fund – Small- and mid-cap fund launched August 17, 2020
- Titan Offshore Fund – International fund launched April 6, 2021
- Titan Crypto is a new offering with an actively managed portfolio of cryptocurrency assets.
- Automated stock and bond strategies (zero management fee)
- Credit, venture capital and real estate funds
Robo-Advisor Apps for Unique Investors
No matter what your investment know-how, style, or needs, one of these 6 best robo-advisor investing apps can help you meet your financial goals. Many offer small initial investment requirements and low-to-no management fees for accounts, so even those nervous about making the switch to a robo-advisor app will find it easy to make a low-stakes investment to get started.
Of course, not every one of these robo-advisor apps is a good fit for every investor. Some are better equipped to handle large-scale trading, while others gear themselves toward millennials and younger investors with less capital. All, however, are designed with your security in mind, so are encrypted to protect your data. Though all investments come with a risk of loss, these robo-advisor apps are designed to help minimize that loss through education, support, and user-friendly interfaces.
Now the only question that remains is if you’ll be investing on your phone from your couch or the grocery checkout line.
Related
- M1 Finance vs Robinhood
- Best Crypto Robo Advisor Apps
- Introduction To Robo-advisors
- 10 Best Financial Planning Apps
- What Are The 8 Major Differences Between Robo Advisors?
- 5 Best Robo Advisors For Beginners
Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t believe is valuable.
Empower compensates Stocktrades Ltd (“Company”) for new leads. Stocktrades Ltd is not an investment client of Empower.
