9 Best Robo-Advisors for Socially Conscious Investors of November 2024
These robo-advisors build socially conscious investment portfolios and manage them for you, so you can invest ethically without the effort.
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If you want to start investing but would prefer for your investment dollars to do some good in the world, you may want to consider working with a robo-advisor. Robo-advisors use computer algorithms to build and manage an investment portfolio for you, taking into account your investment time frame and risk tolerance. The below robo-advisors offer socially conscious portfolios, allowing you to not only invest in your future but in the future of the planet and society.
» New to this? Read up on the basics of socially responsible investing
All of these providers offer at least one managed socially responsible portfolio, and many offer multiple managed socially responsible portfolios.
Most of these robo-advisors choose their assets using the principles of ESG investing. ESG is a way to measure a company or investment’s environmental, social and governance impact. Research firms and advisors often use ESG scores as a way to grade sustainable investments.
The bottom line: These robo-advisors can help you start investing in a socially conscious portfolio for no additional charge.
If you want to start investing but would prefer for your investment dollars to do some good in the world, you may want to consider working with a robo-advisor. Robo-advisors use computer algorithms to build and manage an investment portfolio for you, taking into account your investment time frame and risk tolerance. The below robo-advisors offer socially conscious portfolios, allowing you to not only invest in your future but in the future of the planet and society.
» New to this? Read up on the basics of socially responsible investing
All of these providers offer at least one managed socially responsible portfolio, and many offer multiple managed socially responsible portfolios.
Most of these robo-advisors choose their assets using the principles of ESG investing. ESG is a way to measure a company or investment’s environmental, social and governance impact. Research firms and advisors often use ESG scores as a way to grade sustainable investments.
The bottom line: These robo-advisors can help you start investing in a socially conscious portfolio for no additional charge.
Best Robo-Advisors for Socially Conscious Investors
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 Betterment Learn more on Betterment's website AD Paid non-client promotion | Reviewed in: Oct. 2024 Period considered: Aug. - Oct. 2024 | 0.25% with a balance over $20K or qualifying recurring deposit. Otherwise, $4/month. | $0 $10 to start | Get 1% match of your net Roth and traditional IRA contributions until December 30, 2024. Terms apply. | Learn more on Betterment's website AD Paid non-client promotion |
 Wealthfront Learn more on Wealthfront's website AD Paid non-client promotion | Reviewed in: Oct. 2024 Period considered: Aug. - Oct. 2024 | 0.25% management fee | $500 | Get a $50 customer bonus when you fund your first taxable investment account | Learn more on Wealthfront's website AD Paid non-client promotion |
 Vanguard Digital Advisor Learn more on Vanguard's website AD Paid non-client promotion | Reviewed in: Nov. 2024 Period considered: Aug. - Nov. 2024 | 0.15% per year
(approximately) | $100 | No advisory fees your first 90 days of Vanguard Digital Advisor investment management (Enrollment requires a Vanguard account with a minimum of $100) | Learn more on Vanguard's website AD Paid non-client promotion |
 E*TRADE Core Portfolios Read review Unpaid non-client promotion | Reviewed in: Nov. 2024 Period considered: Aug. - Nov. 2024 | 0.30% management fee | $500 | None no promotion available at this time | Read review Unpaid non-client promotion |
 Acorns Learn more on Acorns' website AD Paid non-client promotion | Reviewed in: Oct. 2024 Period considered: Aug. - Oct. 2024 | $3 - per month | $0 | $10 sign- | Learn more on Acorns' website AD Paid non-client promotion |
5.0
/5Reviewed in: Oct. 2024
Period considered: Aug. - Oct. 2024
on Betterment's website
AD
Paid non-client promotion
0.25%
with a balance over $20K or qualifying recurring deposit. Otherwise, $4/month.
$0
$10 to start
Get 1% match
of your net Roth and traditional IRA contributions until December 30, 2024. Terms apply.
Pros
Multiple portfolio options, including customization.
Low portfolio management fee.
Fractional shares allow all cash in portfolios to be invested.
Goal-based financial planning tools.
Cryptocurrency portfolio available.
No account minimum ($10 required to start investing).
Cons
No direct indexing.
Why We Like It
Betterment offers a powerful combination of goal-based tools, affordable management fees and no account minimum.
5.0
/5Reviewed in: Oct. 2024
Period considered: Aug. - Oct. 2024
on Wealthfront's website
AD
Paid non-client promotion
0.25%
management fee
$500
Get a $50 customer bonus
when you fund your first taxable investment account
Pros
Get $50 customer bonus when you fund your first taxable investment account (NerdWallet promotion).
Low ETF expense ratios.
Daily tax-loss harvesting.
DIY and automated investing options.
Low portfolio management fee.
Cons
$500 account minimum.
Why We Like It
Wealthfront is our highest-scoring robo-advisor thanks to its blend of automated investment portfolios and DIY stock investing portfolios, its wide variety of account options, excellent tax strategy and low management fee. Wealthfront's only weak spots are its account minimum ($500) and its lack of access to human advisors.
Best Robo-Advisor for Low-Cost Investing 2024
4.9
/5Reviewed in: Nov. 2024
Period considered: Aug. - Nov. 2024
on Vanguard's website
AD
Paid non-client promotion
0.15%
per year (approximately)
$100
No advisory fees
your first 90 days of Vanguard Digital Advisor investment management (Enrollment requires a Vanguard account with a minimum of $100)
Pros
Access to Vanguard’s investing expertise and ETFs.
Low portfolio management fee.
Low investment expense ratios.
Cons
Portfolios use only Vanguard ETFs.
No human advisors through Digital service.
Why We Like It
Vanguard Digital Advisor is an affordable robo-advisory service that uses several of Vanguard’s key ETFs to create a personalized retirement plan and portfolio. But Vanguard Digital Advisor doesn't offer much portfolio customization or access to a human advisor.
4.6
/5Reviewed in: Oct. 2024
Period considered: Aug. - Oct. 2024
on Acorns' website
AD
Paid non-client promotion
$3 - $12
per month
$0
$10 sign-up bonus
Pros
Automatically invests spare change.
Cash back at select retailers.
Educational content available.
No account minimum ($5 required to start investing).
IRA match at some service tiers.
High interest rate on checking and savings at some service tiers.
Cons
Monthly fees can be significant for small balances.
$35 per ETF to transfer funds to another broker.
No tax-loss harvesting.
Why We Like It
Acorns is known for its automatic roundups that make saving and investing easy. The downside? At small account balances, Acorns' fees can cut into investment returns. Acorns has great tools for kids at the most expensive tier, such as a bank account and debit card designed to help them learn about all things money. But Acorns has zero financial advisor access or tax tools and higher than average transfer fees.
4.9
/5Reviewed in: Oct. 2024
Period considered: Aug. - Oct. 2024
on Ellevest's website
AD
Paid non-client promotion
$12
per month
$0
2 months free
with promo code "nerdwallet"
Pros
Goal-focused investing approach.
Portfolio mix that factors women’s needs.
Members get discounted sessions with certified financial planners.
No account minimum.
Wealth management offering available for higher-net-worth investors.
Cons
No tax-loss harvesting.
Some portfolios have minimum investment requirements.
Why We Like It
Ellevest offers a single flat-fee plan which costs $12 a month. Clients get discounted access to professional financial planning, alongside free educational resources and the only investing platform that factors in women’s pay gaps, career breaks and longer lifespans. Ellevest does not include any banking options.
Want to compare more options? Here are our other top picks:
Last updated on November 1, 2024
Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. robo-advisors. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating robo-advisors and our process, read our full methodology.
To recap our selections...
NerdWallet's Best Robo-Advisors for Socially Conscious Investors of November 2024
Frequently asked questions
For the most part, no. While some robo-advisors let you exclude certain investments, their function is to build a portfolio for you. If you want to pick your own investments, you’ll likely want to work with an online broker (here’s our roundup of the best brokers). There has been a recent explosion of exchange-traded funds and mutual funds that make it easy for investors to support their beliefs within a diversified portfolio (they are also the building blocks of most robo-advisors’ SRI portfolios). These funds eliminate the legwork of identifying individual stocks that match specific ESG criteria. If you’re looking for socially conscious investments you can choose yourself, see our top picks for ESG funds.
If you’d like to know exactly what kind of impact your investment has had, it’s a good idea to request an impact report from the fund or company you’ve invested in. This will outline things like carbon emissions, gender diversity and initiatives to have an impact on local communities.
