Best Investment Advisors of 2022

Bobby Hall

The best advisors offer easy account setup, robust goal panning, account services, portfolio management, security features, good customer service, comprehensive education, and low fees. Many now offer socially responsible investment portfolios, access to human financial advisors, and extensive digital financial planning tools.

There’s an alternative form of advisors called robo-advisors. These advisors are digital platforms that provide automated, algorithm-driven financial planning services. A robo-advisor collects information on the client’s current financial situation and future goals through a survey and uses it to offer advice and automatically invest clients’ assets.

Robo-advisors provide low-cost solutions to investors that are just starting. Lower costs mean more money to invest. Robo-advisors offer an excellent starting point to build wealth.

Compare some of the best advisors below.

SoFi Automated Investing

0%

Fee

$0

Account Minimum

Overview

Based on your selection, SoFi’s robo advisor uses algorithm-generated investment data to assist you with your investment goals.

What we like

  • No account management fees from SoFi
  • Access to financial advisors
  • Excellent customer support
  • Automatic rebalancing of portfolio
  • Wide range of investment portfolios

What we don't

  • No tax-loss harvesting

M1 Finance

0%

Fee

$0

Account Minimum

Overview

M1 Finance allows you to invest all your money in any portfolio, or customize it to suit your needs. It then manages your account by maintaining your allocations within the selected Pie through automatic rebalancing. Although it doesn’t offer tax-loss harvesting, it has a feature called ‘tax minimization’ that enables you to sell asset positions in a tax-favorable way.

What we like

  • Automated investing with a high level of customization
  • No trading or management fees or commissions
  • No initial minimum deposit
  • You can trade fractional shares
  • Socially responsible investing portfolio option

What we don't

  • No tax-loss harvesting
  • No access to mutual funds, futures, forex, or options investing
  • No financial advisors available