MARTINSVILLE, NJ / ACCESSWIRE / February 5, 2020 / Backend Benchmarking has published the 14th edition of The Robo Report™ and the 4th Edition of The Robo Ranking™ covering the fourth quarter of 2019. This report is a continuation of an ongoing study that monitors the most well-known robo advisors. It strives to provide a reliable resource for both investors and professionals interested in the digital advice industry.
"Robo advisors have taken the advice industry by storm. Larger independent providers continue to show strong growth and develop innovative features, and robo advice technology has been adopted by banks, brokerages, and other traditional advice firms," says Ken Schapiro, President of Backend Benchmarking.
This latest edition of The Robo Report™ also contains The Robo Ranking™, the most comprehensive analysis of digital advice products. The Ranking grades the robos across more than 45 specific metrics and is the only examination that includes real and reliable performance data. Each robo is scored on various high-level categories, such as features, financial planning, customer experience, access to live advisors, transparency and conflicts of interest, size and tenure, account minimums, costs, and performance.
"Overall, digital advice providers are continuing to invest in their platforms and expand past investment management into other areas of personal finance. We anticipate this trend to continue into 2020," said David Goldstone, Head of Research at Backend Benchmarking.
Robo Ranking Highlights:
- Fidelity Go and Vanguard awarded Best Overall Robo
- Fidelity Go and Axos Invest win Best Robo for Performance at a Low Cost
- Wealthfront and Personal Capital Standout for Best Digital Financial Planning Tools
- Betterment and SoFi are the best platforms to those new to investing
Robo Report Performance Commentary:
- SRI portfolios maintain strong performance through the end of 2019
- Axos Invest is emerging as a performance leader
- Fidelity Go and SigFig lead the three- and four-year performance periods
Performance is partly based on Backend Benchmarking's innovative method to compare globally diversified portfolios called Normalized Benchmarking. A methodology of Normalized Benchmarking, details of how they create the scores and ranking and The Robo Report™ and The Robo Ranking™ are all available for free at https://www.backendbenchmarking.com/the-robo-report/. Follow the Report on Twitter @theroboreport.
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SOURCE: Backend Benchmarking
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