The Robo Advisors In the world for 2020

See why EngineeringRobo is the smarter choice for managing your money

There are now over 200 robo-advisors available in the world, and more of them are launching every year. All of them provide different combination of investment management, and overall financial strategies.

Most of Robo-advisors are online wealth management firms that take your money and help you put it into low-cost Exchange-Traded Funds (ETFs). When you first sign-up with them, you are generally required to answer a series of questions that are designed to generate your financial profile and categorize you based on your risk tolerance. A portfolio that matches your needs is then created and your funds are invested.

Nearly 60% of US consumers expect to use a robo-advisor by 2025, according to research from Charles Schwab. Additionally, 60% of current robo-advisor users are millennials, who are expected to have $20 trillion of assets globally by 2030, per CB Insights. As that wealth grows, more money will likely flow into digital wealth managers, especially as they often offer such services at a cheaper price than incumbent wealth managers.