Not all robo-advisers are created equal. Individual investors have different needs, and some robos are better equipped to meet them than others.
In the latest edition of “The Robo Ranking” report, research group Backend Benchmarking attempts to quantify not just the best robo-adviser, but which products are better for different types of investors. For example, the best product for a first-time investor isn’t the same for an experienced investor who has complex financial planning needs.
Backend Benchmarking scores 13 digital advisers by 45 different metrics, taking into account things like investment performance, features, services offered and costs. These robos came out on top.