Who Are the Robo-Advisors You Can Trust?
How Morningstar assessed and compared 16 leading digital advice providers.
What makes a good, trustworthy robo-advisor? Morningstar thinks low costs, sound approaches to constructing portfolios and matching investors with them, responsible corporate parents, and breadth of services are the most important qualities. These are the main factors a team of six analysts used to assess and compare the growing robo-advisor market in our recently published and first ever 2022 Robo-Advisor landscape report.
We’ve already shared key insights from that paper in this article on what robo-advisors are and who should use them. Here, we’ll discuss how we assessed 16 leading robo-advisors and provide an overview of those results. Future articles will take a closer look at the robo-advisors with the highest and lowest scores in our assessment as well as those whose strengths mask weaknesses investors should be aware of.