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9 Best Robo-Advisors for Socially Conscious Investors of October 2024

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

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Written by Alana Benson
Lead Writer
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Reviewed by Pamela de la Fuente
Assigning Editor
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Edited by Arielle O'Shea
Lead Assigning Editor
Fact Checked

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The investing information provided on this page is for educational purposes only. NerdWallet, Inc. 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

All of these providers offer at least one managed socially responsible portfolio, and many offer multiple managed socially responsible portfolios.

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.


Why you can trust NerdWallet's picks: Our writers and editors together have more than 50 years of experience writing about finance, and follow strict guidelines to maintain editorial integrity. We do a deep, independent analysis of dozens of investment firms, sorting through the details to find and evaluate the information investors want when choosing an investing account. To see our full methodology and learn more about our process, read our criteria for evaluating robo-advisors.

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

All of these providers offer at least one managed socially responsible portfolio, and many offer multiple managed socially responsible portfolios.

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.


Why you can trust NerdWallet's picks: Our writers and editors together have more than 50 years of experience writing about finance, and follow strict guidelines to maintain editorial integrity. We do a deep, independent analysis of dozens of investment firms, sorting through the details to find and evaluate the information investors want when choosing an investing account. To see our full methodology and learn more about our process, read our criteria for evaluating robo-advisors.

Best Robo-Advisors for Socially Conscious Investors

NerdWallet rating 

5.0

/5

Reviewed in: Oct. 2023

Period considered: Aug. - Oct. 2023

Betterment
Learn more

on Betterment's website

AD

Paid non-client promotion

Fees

0.25%

with a balance over $20K or qualifying recurring deposit. Otherwise, $4/month.

Account minimum

$0

$10 to start

Promotion

Get 1% match

of your net Roth and traditional IRA contributions until December 30, 2024. Terms apply.

Pros

  • Multiple portfolio options, including customization.

  • Low portfolio management fee.

  • Fractional shares allow all cash in portfolios to be invested.

  • Goal-based financial planning tools.

  • Cryptocurrency portfolio available.

  • No account minimum ($10 required to start investing).

Cons

  • No direct indexing.

Why We Like It

Betterment offers a powerful combination of goal-based tools, affordable management fees and no account minimum. Betterment has a wide range of investments, including socially responsible and crypto portfolios, and offers paid access to financial advisors and excellent tax strategy.

NerdWallet rating 

5.0

/5

Reviewed in: Oct. 2023

Period considered: Aug. - Oct. 2023

Wealthfront
Learn more

on Wealthfront's website

AD

Paid non-client promotion

Fees

0.25%

management fee

Account minimum

$500

Promotion

Get a $50 customer bonus

when you fund your first taxable investment account

Pros

  • Get $50 customer bonus when you fund your first taxable investment account (NerdWallet promotion).

  • Low ETF expense ratios.

  • Daily tax-loss harvesting.

  • DIY and automated investing options.

  • Low portfolio management fee.

Cons

  • $500 account minimum.

Why We Like It

Wealthfront is our highest-scoring robo-advisor thanks to its blend of automated investment portfolios and DIY stock investing portfolios, its wide variety of account options, excellent tax strategy and low management fee. Wealthfront's only weak spots are its account minimum ($500) and its lack of access to human advisors.

Best Robo-Advisor for Low-Cost Investing 2024

NerdWallet rating 

4.8

/5

Reviewed in: Oct. 2023

Period considered: Aug. - Oct. 2023

Vanguard Digital Advisor
Learn more

on Vanguard's website

AD

Paid non-client promotion

Fees

0.15%

per year (approximately)

Account minimum

$100

Promotion

No advisory fees

your first 90 days of Vanguard Digital Advisor investment management (Enrollment requires a Vanguard account with a minimum of $100)

Pros

  • Access to Vanguard’s investing expertise and ETFs.

  • Low portfolio management fee.

  • Low investment expense ratios.

Cons

  • Limited portfolio options and customization.

  • $100 account minimum.

Why We Like It

Vanguard Digital Advisor is an affordable robo-advisory service that uses several of Vanguard’s key ETFs to create a personalized retirement plan and portfolio. But Vanguard Digital Advisor doesn't offer much portfolio customization or access to a human advisor.

NerdWallet rating 

4.7

/5

Reviewed in: Oct. 2023

Period considered: Aug. - Oct. 2023

Acorns
Learn more

on Acorns' website

AD

Paid non-client promotion

Fees

$3 - $12

per month

Account minimum

$0

Promotion

$10 Sign Up Bonus

Pros

  • Automatically invests spare change.

  • Cash back at select retailers.

  • Educational content available.

  • No account minimum ($5 required to start investing).

Cons

  • Monthly fees can be significant for small balances.

  • $35 per ETF to transfer funds to another broker.

  • No tax-loss harvesting.

Why We Like It

Acorns is known for its automatic roundups that make saving and investing easy. The downside? At small account balances, Acorns' fees can cut into or completely wipe away investment returns. Acorns has great tools for kids at the most expensive tier, such as a bank account and debit card designed to help them learn about all things money. But Acorns has zero financial advisor access or tax tools and higher than average transfer fees.

NerdWallet rating 

4.7

/5

Reviewed in: Oct. 2023

Period considered: Aug. - Oct. 2023

Ellevest
Learn more

on Ellevest's website

AD

Paid non-client promotion

Fees

$12

per month

Account minimum

$0

Promotion

2 months free

with promo code "nerdwallet"

Pros

  • Goal-focused investing approach.

  • Portfolio mix that factors women’s needs.

  • Members get discounted sessions with coaches and certified financial planners.

  • No account minimum.

Cons

  • No tax-loss harvesting.

  • Some portfolios have minimum investment requirements.

Why We Like It

Ellevest offers a single flat-fee plan which costs $12 a month — that's on the pricier end of robo-advisors. Clients get discounted access to professional financial planning, alongside free educational resources and the only investing platform that factors in women’s pay gaps, career breaks and longer lifespans. Ellevest does not include any banking options.

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

Last updated on October 1, 2024

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).

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 2024

Frequently asked questions