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What's the best robo advisor?

Andrew Goldman

Andrew Goldman has been writing for over 20 years and investing for the past 10 years. He currently writes about personal finance and investing for Wealthsimple. Andrew's past work has been published in The New York Times Magazine, Bloomberg Businessweek, New York Magazine and Wired. Television appearances include NBC's Today show as well as Fox News. Andrew holds a Bachelor of Arts (English) from the University of Texas. He and his wife Robin live in Westport, Connecticut with their two boys and a Bedlington terrier. In his spare time, he hosts “The Originals" podcast.

Lisa MacColl is a writer, investor and former compliance consultant in the group retirement and individual wealth management fields. Lisa has written about personal finance for 14 years and currently writes about investing and investment providers for Wealthsimple. Lisa's past work has been published in Canadian Money Saver, Advisor’s Edge, CBC, and CreditCards.ca. She was a nominee for the 2015 Oktoberfest Women of the Year, Professional Category. Lisa holds an M.A. and B.A. from the Wilfrid Laurier University.

There are a handful of huge life decisions adults have to make. Which career should I pursue? Which of these adorable suitors should I choose as a life partner? You want kids with that? But no single decision may be more perplexing than choosing who’s going to look after your money.

The fact that you’re searching for a robo-advisor over a traditional investment manager suggests that you’ve been doing your homework, and understand that investors like Warren Buffet, perhaps the greatest stock picker in recorded history, has pronounced over and over that passive investments like those offered by robo-advisors will consistently outperform the high-fee, actively managed unit trusts that dominated the financial industry a generation ago. But which roboadvisor is the best? Does Wealthify offer lower fees than Nutmeg? Will Scalable Capital or Moneyfarm provide better long-term returns? And is Moola an advisory or a bottled breakfast smoothie? The truth is the fee structures don’t differ dramatically from one robo-advisor to another; all charge between .6%-.75% annually for the beginning investor. All offer portfolios featuring market-tracking ETFs, and all firms’ investments are protected by the FSCS up to £50,000 against bank failure. Honestly, the biggest difference that distinguishes on from another is the feature you’ll likely need the most: human guidance.

Unlike any of our competition, Wealthsimple offers every client the ability to speak with a qualified investment adviser at absolutely no cost whenever the need arises. We’re always here for you. If you’d like to watch your little nest egg grow big, and begin a long, beautiful friendship with Wealthsimple, start here.

Last Updated December 9, 2019

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