BEST OF

7 Best Robo-Advisors for Socially Conscious Investors of October 2022

These robo-advisors build socially conscious investment portfolios and manage them for you, so you can invest ethically without the effort.

Oct 3, 2022

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

If you want to start investing but would prefer for your investment dollars to do some good in the world, you may want to consider working with a robo-advisor. Robo-advisors use computer algorithms to build and manage an investment portfolio for you, taking into account your investment time frame and risk tolerance. The below robo-advisors offer socially conscious portfolios, allowing you to not only invest in your future but in the future of the planet and society.

» New to this? Read up on the basics of socially responsible investing

Most of these robo-advisors choose their assets using the principles of ESG investing. ESG is a way to measure a company or investment’s environmental, social and governance impact. Research firms and advisors often use ESG scores as a way to grade sustainable investments.

Here are the details on some providers' portfolio offerings:

  • Betterment: Provides three impact portfolios to choose from: Broad Impact, Climate Impact and Social Impact.

  • Wealthfront: Offers a pre-made socially responsible portfolio. You can customize any portfolio with socially responsible ETFs.

  • Merrill Edge Guided Investing: Clients can invest in an ESG portfolio and request restrictions on certain ETFs.

  • Ally Invest: Offers a Socially Responsible Managed Portfolio option.

  • Marcus Invest: Goldman Sachs Impact portfolio includes ESG ETFs.

  • E-Trade: Gives access to a portfolio that includes an ESG ETF.

  • Axos Invest: Offers investments in themed areas such as clean energy and companies with a greater representation of women in senior leadership roles.

The bottom line: These robo-advisors can help you start investing in a socially conscious portfolio for no additional charge.

Best Robo-Advisors for Socially Conscious Investors

NerdWallet rating 

5.0

/5
Wealthfront
Learn more

on Wealthfront's website

Fees

0.25%

management fee

Account minimum

$500

Promotion

Get $50 customer bonus

when you fund your first taxable Investment Account

NerdWallet rating 

5.0

/5
Betterment
Learn more

on Betterment's website

Fees

0.25%

management fee

Account minimum

$0

Promotion

Up to 1 year

of free management with a qualifying deposit

NerdWallet rating 

4.5

/5
Ally Invest Robo Portfolios
Learn more

on Ally Invest's website

Fees

0.0%

with Cash-Enhanced Managed Portfolio; 0.3% otherwise

Account minimum

$100

Promotion

None

no promotion available at this time

NerdWallet rating 

4.0

/5
Axos Managed Portfolios
Learn more

on Axos Invest's website

Fees

0.24%

management fee

Account minimum

$500

Promotion

None

no promotion available at this time

NerdWallet rating 

4.0

/5
E*TRADE Core Portfolios
Learn more

on E*TRADE's website

Fees

0.30%

management fee

Account minimum

$500

Promotion

None

no promotion available at this time

NerdWallet rating 

4.0

/5
Marcus Invest

Fees

0.25%

advisory fee

Account minimum

$0

Promotion

None

no promotion available at this time

Want to compare more options? Here are our other top picks:

Last updated on October 3, 2022

You may also like these

People often identify opening a savings account as their next money move.

LendingClub High-Yield Savings

5.0

NerdWallet rating 
LendingClub High-Yield Savings

APY

2.85%

With $0 min. balance for APY

at LendingClub Bank, Member FDIC

Varo Savings Account

5.0

NerdWallet rating 
Varo Savings Account

APY

5.00%

With $1.25 min. balance for APY

at Varo Bank, Member FDIC

Marcus by Goldman Sachs Online Savings Account

4.5

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

2.15%

With $0 min. balance for APY

at Marcus by Goldman Sachs, Member FDIC

Methodology

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. robo-advisors. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

For more details about the categories considered when rating robo-advisors and our process, read our full methodology.

To recap our selections...

NerdWallet's Best Robo-Advisors for Socially Conscious Investors of October 2022

Frequently asked questions