10 top-performing robo-advisers
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Competition among robo-advisers is heating up as digital advice platforms see an increase in account openings amid the market volatility sparked by COVID-19, according to Backend Benchmarking’s second-quarter Robo Report.
The final score for each robo -- with a maximum score of 100 -- measures qualitative aspects of the service including financial planning, user interface and customer experience, product features, access to live advisers, transparency and conflicts of interest.
The growth in robo-advisers’ assets under management last year provided a strong foundation that allowed robos to stay the course on scaling their digital advice platforms during the pandemic, said David Goldstone, Backend Benchmarking’s head of research. Backend Benchmarking estimates robos had approximately $631 billion of AUM at the end of 2019.
Click through to see how robo-advisers stacked up compared with their peers.