BEST OF

9 Best Robo-Advisors for Socially Conscious Investors of February 2023

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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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.

Best Robo-Advisors for Socially Conscious Investors

NerdWallet rating 

4.7

/5
Vanguard Digital Advisor

Unpaid non-client promotion

Fees

0.15%

per year (approximately)

Account minimum

$3,000

Promotion

No advisory fees

your first 90 days of Vanguard Digital Advisor investment management (Enrollment requires a Vanguard account with a minimum of $3,000)

NerdWallet rating 

5.0

/5
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

Promotion

Up to 1 year

of free management for new clients. Terms apply.

NerdWallet rating 

5.0

/5
Wealthfront
Learn more

on Wealthfront's website

AD

Paid non-client promotion

Fees

0.25%

management fee

Account minimum

$500

Promotion

Get $50 customer bonus

when you fund your first taxable Investment Account

NerdWallet rating 

4.4

/5
Ally Invest Robo Portfolios

Unpaid non-client promotion

Fees

0.0%

with Cash-Enhanced Managed Portfolio; 0.3% otherwise

Account minimum

$100

Promotion

None

no promotion available at this time

NerdWallet rating 

4.5

/5
Axos Managed Portfolios
Learn more

on Axos Invest's website

AD

Paid non-client promotion

Fees

0.24%

management fee

Account minimum

$500

Promotion

Get $200

when you open, fund, and make at least 2 trades in your Axos Managed Portfolios account.

NerdWallet rating 

4.4

/5
E*TRADE Core Portfolios
Learn more

on E*TRADE's website

AD

Paid non-client promotion

Fees

0.30%

management fee

Account minimum

$500

Promotion

None

no promotion available at this time

NerdWallet rating 

4.6

/5
Acorns
Learn more

on Acorns' website

AD

Paid non-client promotion

Fees

$3 - $5

per month

Account minimum

$0

Promotion

$10 Sign Up Bonus

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

Last updated on January 3, 2023

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SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

APY

3.75%

With $0 min. balance for APY

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

at SoFi, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

3.30%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

LendingClub High-Yield Savings

4.5

NerdWallet rating 
LendingClub High-Yield Savings

APY

4.00%

With $0 min. balance for APY

at LendingClub Bank, 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).

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 February 2023

Frequently asked questions