BEST OF

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

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

Jan 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 or securities.

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.

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

Marcus Invest
Learn more

on Marcus: by Goldman Sachs's website

Marcus Invest

3.5

NerdWallet rating 
Marcus Invest

Fees

0.35%

advisory fee

Account Minimum

$1,000

Promotion

None

no promotion available at this time

Learn more

on Marcus: by Goldman Sachs's website


Promotion

None

no promotion available at this time

Why we like it

Marcus Invest brings the investment expertise of Goldman Sachs to its robo-advisor offering for a 0.35% management fee. Marcus Invest has a higher investment minimum than most robo-advisors, but offers multiple investment strategies.

Pros

  • Impact and smart beta strategies.

  • Marcus also offers a high-yield savings account product.

Cons

  • $1,000 account minimum.

  • No human advisor access.

  • No tax-loss harvesting.

Read Full Review
E*TRADE Core Portfolios
Learn more

on E*TRADE's website

E*TRADE Core Portfolios

4.0

NerdWallet rating 
E*TRADE Core Portfolios

Fees

0.30%

management fee

Account Minimum

$500

Promotion

None

no promotion available at this time

Learn more

on E*TRADE's website


Promotion

None

no promotion available at this time

Why we like it

If you’re after a robo-advisor portfolio with actively managed mutual funds, E*TRADE is a strong option. Otherwise, you may be able to get more for less from a competitor, particularly if you hold a high balance in a taxable account.

Pros

  • Extensive investor tools and educational resources.

  • Strong customer service.

  • Low investment-expense ratios.

  • Specialty portfolio options.

Cons

  • No tax-loss harvesting.

Read Full Review
Betterment
Learn more

on Betterment's website

Betterment

5.0

NerdWallet rating 
Betterment

Fees

0.25%

management fee

Account Minimum

$0

Promotion

Up to 1 year

of free management with a qualifying deposit

Learn more

on Betterment's website


Promotion

Up to 1 year

of free management with a qualifying deposit

Why we like it

Betterment has maintained its status as the largest independent robo-advisor for a reason: The company offers a powerful combination of goal-based tools, affordable management fees and no account minimum.

Pros

  • Multiple portfolio options and customization.

  • No account minimum and low fees.

  • Fractional shares mean all your cash is invested.

  • Robust goal-based tools.

Cons

  • No direct indexing.

Read Full Review
Wealthfront
Learn more

on Wealthfront's website

Wealthfront

5.0

NerdWallet rating 
Wealthfront

Fees

0.25%

management fee

Account Minimum

$500

Promotion

$5,000

amount of assets managed for free

Learn more

on Wealthfront's website


Promotion

$5,000

amount of assets managed for free

Why we like it

Wealthfront has built client trust by offering free management on the first $5,000 — with NerdWallet’s promotion — and the company’s stock-level tax-loss harvesting service really shines.

Pros

  • First $5,000 managed free (NerdWallet promotion).

  • Low ETF expense ratios.

  • Daily tax-loss harvesting.

  • Automatic rebalancing.

Cons

  • No fractional shares.

  • No large-balance discounts.

Read Full Review
Axos Managed Portfolios
Learn more

on Axos Invest's website

Axos Managed Portfolios

4.0

NerdWallet rating 
Axos Managed Portfolios

Fees

0.24%

management fee

Account Minimum

$500

Promotion

None

no promotion available at this time

Learn more

on Axos Invest's website


Promotion

None

no promotion available at this time

Why we like it

Axos Invest stands out for the level of customization allowed by the service: The company allows investors to add or remove 32 investment types, including socially responsible investments.

Pros

  • Low account management costs.

  • Customizable portfolios.

  • Goal-based planning tools.

Cons

  • Limited account selection.

Read Full Review

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

Last updated on January 3, 2022

You may also like these

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

Marcus by Goldman Sachs Online Savings Account

5.0

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

0.50%

With $0 minimum balance

Bonus

$100

Requirements to qualify

at Marcus by Goldman Sachs, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

0.50%

With $0 minimum balance

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

Alliant Credit Union High-Rate Savings

5.0

NerdWallet rating 
Alliant Credit Union High-Rate Savings

APY

0.55%

With $100 minimum balance

at Alliant Credit Union, Federally insured by the NCUA

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 brokers and our process, read our full methodology.

To recap our selections...

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

Frequently asked questions