BEST OF

11 Best Robo-Advisors of October 2022

The best robo-advisors charge low portfolio management fees and offer a range of services, including tax strategies, access to human advisors and a variety of portfolio options.

Oct 3, 2022

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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.

In a volatile stock market, low-cost financial advice and investment management can be more valuable than ever. Robo-advisors can be an accessible way to get it: These services build and manage an investment portfolio for you for a fraction of what the typical financial advisor might charge, allowing you to be hands-off with your investments.

The number of robo-advisors has swelled in recent years, as has the range of services. Many robo-advisors now offer socially responsible investment portfolios, access to human financial advisors for basic investment and financial planning questions and comprehensive digital financial planning tools.

Bottom line: There’s now a low-cost robo-advisor option for every type of investor. We've analyzed the industry and listed the best robo-advisors below.

Best Robo-Advisors

NerdWallet rating 

5.0

/5
SoFi Automated Investing
Learn more

on SoFi Invest's website

Fees

0%

management fee

Account minimum

$0

Promotion

Free

career counseling plus loan discounts with qualifying deposit

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 

4.0

/5
Acorns
Learn more

on Acorns' website

Fees

$3 - $5

per month

Account minimum

$0

Promotion

$10 Sign Up Bonus

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
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
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 

4.5

/5
Blooom
Learn more

on Blooom's website

Fees

$45 - $250

per year

Account minimum

$0

Promotion

$10 off

with code REEETIRE10

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

Last updated on October 3, 2022

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

SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

APY

2.50%

With $0 min. balance for APY

Bonus

$300

Earn up to $300 with direct deposit. Terms apply.

at SoFi, Member FDIC

LendingClub High-Yield Savings

5.0

NerdWallet rating 
LendingClub High-Yield Savings

APY

2.65%

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

Methodology

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers and 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 providers and our processes, read our full broker ratings methodology and our full robo-advisor ratings methodology.

Frequently asked questions