Investing is a great way to put your money to work, but it can be complicated. Luckily, there are automated investing software, often known as robo-investors, to do the legwork for you, from creating a diverse portfolio to handling your trades. Some even offer a blend of automated and live investing strategies, so you can let your portfolio grow in the background or give it a little human guidance when needed. We’ve put together the 10 best automated investing software on the market that can meet all sorts of investing needs.

Top 10 Best Automated Investing Software

  1. Betterment – Best Automated Investing Software for Versatility
  2. E*TRADE Core Portfolios – Best Automated Investing Software for Mobile Use
  3. Wealthfront – Best Automated Investing Software for Risk Flexibility
  4. SoFi – Best Automated Investing Software for Small Budgets
  5. Blooom – Best Automated Investing Software for 401(k)s
  6. Axos Managed Portfolios – Best Automated Investing Software for Customization
  7. Vanguard Digital Advisor – Best Automated Investing Software for Beginners
  8. Ellevest – Best Automated Investing Software for Goal-Based Investing
  9. Personal Capital – Best Automated Investing Software for Portfolio Management
  10. M1 Finance – Best Automated Investing Software for Low Fees

1. Betterment – Best Automated Investing Software for Versatility

PRICING: 0.25% annual fee, $0 balance minimum

Betterment is a great software across the board. From beginners to seasoned investors, Betterment offers competitive annual fees, a premium service that offers live advisor access, and multiple retirement account options.

KEY FEATURES:

  • Tax-loss harvesting
  • Low annual advisory fee
  • $10 minimum investment

REASONS TO BUY:

  • Wide variety of options and services
  • Customizable portfolios

REASONS TO AVOID:

  • High fee for professional advice

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2. E*TRADE Core Portfolios – Best Automated Investing Software for Mobile Use

PRICING: 0.30% annual fee, $500 balance minimum

It’s important to keep your eye on your portfolio no matter where you are, so E*TRADE’s Core Portfolios platform’s focus on mobile experience is very appealing. It also offers SRI options and a wide range of investment education tools.

KEY FEATURES:

  • Low-cost ETFs with low expense ratios
  • Easy to sign up and use on mobile app

REASONS TO BUY:

  • Good customer service ratings
  • Specialty portfolios available
  • Intuitive user interface

REASONS TO AVOID:

  • No tax-loss harvesting
  • Slightly higher annual and transfer fees

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3. Wealthfront – Best Automated Investing Software for Risk Flexibility

PRICING: 0.25% annual fee, $500 balance minimum

With a low annual advisory fee and enhanced tax-loss harvesting, Wealthfront is a great option for both beginning and seasoned investors. While its US direct indexing is only available for higher balances, it doesn’t cost any extra. It also provides a huge number of investing plans, and it’s generally easy to switch up the nature of your investments.

KEY FEATURES:

  • Tax-loss harvesting
  • US direct indexing

REASONS TO BUY:

  • Easy to switch between low- and high-risk assets
  • Annual fee does not increase with more features
  • Hundreds of investing plans to choose

REASONS TO AVOID:

  • Chat and assistance options are limited.
  • No fractional share trading

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4. SoFi – Best Automated Investing Software for Small Budgets

PRICING: 0% annual fee, $1 balance minimum

SoFi is one of the lowest-cost robo-investors available; there’s no management fee and only a $1 account minimum. It also has monetary incentives for certain trades and actions that can help you grow your account balance even more. If you’re just starting to invest, or you just want something simple without fees, SoFi is what you want.

KEY FEATURES:

  • Cryptocurrency investment options
  • $10 in bitcoin after your first cryptocurrency
  • Free career coaching

REASONS TO BUY:

  • Few to no account fees
  • Live advisor access
  • Monetary investment incentives

REASONS TO AVOID:

  • No tax-loss harvesting
  • In-house ETFs can be risky

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5. Blooom – Best Automated Investing Software for 401(k)s

PRICING: $45-250 per year, $0 balance minimum

Blooom is a rare robo-investor that doesn’t charge an annual advisory percentage; instead, it’s a flat fee based on your service options and how many accounts you have, which is great for high-balance accounts. Blooom is also great for managing your 401(k), something software and platforms in the automated investing field are often lacking.

KEY FEATURES:

  • 401(k) management
  • Free investment analysis

REASONS TO BUY:

  • Live financial advisors available at higher levels

REASONS TO AVOID:

  • Small account balances have higher costs

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6. Axos Managed Portfolios – Best Automated Investing Software for Customization

PRICING: .024% annual fee, $500 balance minimum

Axos offers both self-directed trading and automated portfolios, a rare combination for robo-investors. Their rates are competitive, too; they do have a $500 minimum, but that’s not any higher than others on this list, and their annual fee is actually slightly less than others.

KEY FEATURES:

  • Automated investing and direct trading
  • Low annual fee
  • Goal-oriented investment tools

REASONS TO BUY:

  • High customization for portfolios
  • Good balance between automation and direct trading

REASONS TO AVOID:

  • Smaller number of direct-trading securities than other live brokerages
  • Fee for premium items other platforms include for free.

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7. Vanguard Digital Advisor – Best Automated Investing Software for Beginners

PRICING: 0.20% annual advisory fee, $3000 balance minimum

Vanguard Digital Advisor is a completely automated service, so you won’t be interacting with any human advisors. The good news is that it’s one of the most intuitive and easy to use robo-investors on the market.

It also has one of the lowest annual advisory fees, but it’s account minimum is a different story. Vanguard is easy to use, but you do need a rather large amount of capital before you can begin.

KEY FEATURES:

  • Inexpensive ETFs
  • Completely robotic – no human financial advisers
  • Side-by-side product comparison

REASONS TO BUY:

  • Low annual advisory fee
  • Intuitive interface

REASONS TO AVOID:

  • High minimum balance requirement

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8. Ellevest – Best Automated Investing Software for Goal-Based Investing

PRICING: $1 per month, $0 balance minimum

Ellevest understands that the life experiences of women and men can be very different, and so they tailor their service specifically towards helping women meet their personal goals. Men can also be clients, but Ellevest specializes in taking things like the wage gap and even longer lifespans into account.

Each membership tier offers a different array of goals, but all of them have a customizable investment plan that Ellevest simulations claim have a 70% success rate.

KEY FEATURES:

  • A la carte services
  • Goal-focused approach
  • No account minimum

REASONS TO BUY:

  • Tailored for women’s experiences
  • Coaching sessions

REASONS TO AVOID:

  • No tax-loss harvesting
  • Some basic features only available at higher memberships

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9. Personal Capital – Best Automated Investing Software for Portfolio Management

PRICING: 0.89% annual fee, $100000 balance minimum

The pricing of Personal Capital is obviously for seasoned investors only; it’s annual fee alone is significantly higher than every other platform on this list. However, it offers one of the best balances of robo-investing and live financial consultants on the market.

KEY FEATURES:

  • Tax-loss harvesting
  • Tax-optimized withdrawals of retirement funds

REASONS TO BUY:

  • Wide variety of free management tools
  • Great tax optimization

REASONS TO AVOID:

  • High rates preclude beginning or low-capital investors
  • Mobile experience missing key features

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10. M1 Finance – Best Automated Investing Software for Low Fees

PRICING: 0% annual fee, $100 balance minimum

On the opposite end of the spectrum to Personal Capital, M1 Finance is great for those with little starting capital. It has no annual management fee or trading fees, and its minimum balance is one of the lowest ones on this list. It might not have as many tools as some of the costlier platforms, but it still offers enough customization to do well for more experienced investors as well.

KEY FEATURES:

  • No annual management fees or trading fees.
  • High customization of portfolios

REASONS TO BUY:

  • Good balance between automation and account flexibility
  • Low balance minimum

REASONS TO AVOID:

  • No tax-loss harvesting
  • Fewer financial tools than most platforms

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References and Links

  • https://www.support.ellevest.com/hc/en-us/articles/219377347-What-does-a-70-likelihood-of-reaching-your-goal-mean-
  • https://www.nerdwallet.com/best/investing/robo-advisors
  • https://www.forbes.com/advisor/investing/best-robo-advisors/
  • https://www.investopedia.com/best-robo-advisors-4693125
  • https://www.cnet.com/personal-finance/investing/best-robo-advisor/