How Do You Choose the Best Robo Advisor?
When comparing robo advisors, it is important to consider a number of factors. First, it is essential to compare the fee structure of each advisor. Most platforms tend to charge fees of 0.25% - 1.00%, depending on the amount invested. The amount of fees you will be charged is the best way to directly compare each robo advisor. This is because the platforms do not always disclose the details of their investment strategies. For the same reason, it is difficult to know exactly what type of returns you can expect from each robo advisor. That said, most robo advising platforms offer portfolios with a range of risk and return profiles. Finally, it is important to compare the minimum investment requirement of each platform. While several robo advisors have very low minimum account balances (or none at all), others require several thousand dollars, which can be prohibitive for some individuals.