Tuesday, 22 August 2023 06:00 AM
Company Update
MARTINSVILLE, NJ / ACCESSWIRE / August 22, 2023 / We are proud to publish the 28th edition of the Robo Report®, covering the second quarter of 2023, and the 11th edition of the Robo Ranking®, announced Ken Schapiro, Founder of Condor Capital Wealth Management.
This edition of the Robo Report® tracks the performance of 42 accounts at 27 different providers. The Robo Ranking® Summer Edition provides an in-depth look at both the qualitative factors of robo-advice platforms, as well as the performance of its underlying accounts. It grades robo advisors across more than 45 specific metrics and scores each robo on various high-level categories, such as features, financial planning, customer experience, access to live advisors, transparency and conflicts of interest, size and tenure, account minimums, costs, and performance.
Robo Ranking Highlights:
Best Overall Robo Advisor Winner: Schwab Intelligent Portfolios, Runner-up: Merrill Edge Guided Investing
"Schwab Intelligent Portfolios Premium stands out as our Best Overall Robo for the Robo Ranking Summer Edition," Goldstone begins. "The Premium suite offers exceptional planning tools, enabling users to outline multiple intricate financial aims. Coupled with access to licensed financial experts and Certified Financial Planners, Schwab offers an exemplary robo-advisory experience."
Goldstone goes on to note, "Merrill Edge Guided Investing emerges as our runner-up. Available in two tiers, its digital-only tier starts at an accessible $1,000, providing essential offerings and an ESG-focused investment portfolio. With $20,000 or more, the hybrid tier offers investors access to live advisors for more intricate planning, mirroring Schwab in its comprehensive approach."
Best Robo for Performance at a Low Cost Winner: Wealthfront, Runner-up: Fidelity Go
"For investors who prioritize robust quantitative metrics, especially concerning returns and fees, Wealthfront once again led the way, standing tall through post-Covid recovery, inflation surges, geopolitical disturbances, and a backdrop of rapidly rising interest rates, all culminating in the three years up to June 30, 2023" says Goldstone.
"Fidelity Go maintained its prestige, with equity positioning that leaned heavily on large caps, constituting 75% of the equity portfolio. This strategic move turned out to be fruitful as large caps predominantly outshined other sizes." says Goldstone
Best Robo for First-Time Investors Winner: SoFi, Runner-up: Fidelity Go
"SoFi's multifaceted approach to financial management, from consolidating debt to its holistic view via SoFi Relay, establishes it as the top choice for newcomers to the investment scene. Additionally, the platform's offerings like access to career counseling and live financial experts, combined with competitive low fees, make it indispensable for first-time investors," shares Goldstone.
Best Robo for Digital Financial Planning Winner: Empower, Runner-up: Wealthfront
Best Robo for Complex Financial Planning Winner: Vanguard, Runner-up: Empower
Robo Report Highlights:
Year-to-Date Total Performance Winner: Stash Smart Portfolio, 2nd: SoFi, 3rd: US Bank Automated Investor
One Year Total Performance Winner: Fidelity Go, 2nd: SoFi, 3rd: Vanguard P.A.S.
Three-Year Total Performance Winner: Schwab Domestic Focus, 2nd: Wealthfront (2016), 3rd: Zacks Advantage
Five-Year Total Performance Winner: Zacks Advantage, 2nd: Wealthfront (2016), 3rd: Fidelity Go
Performance is partly based on The Robo Report's innovative method to compare globally diversified portfolios called Normalized Benchmarking. A methodology of Normalized Benchmarking, details of how they create the scores and ranking and the Robo Report® and the Robo Ranking® are all available for free at condorcapital.com/the-robo-report.
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Disclaimer of Warranties:
Research is provided "as is" with all faults. The Company disclaims all warranties of any kind regarding the Research, either express or implied, including but not limited to, any implied warranty of merchantability, fitness for a particular purpose, ownership, noninfringement, accuracy of informational content, and absence of viruses and damaging or disabling code.
The Company does not warrant the accuracy, completeness, or timeliness of the Research. The Company shall not be responsible for investment decisions, damages, or other losses resulting from use of Our Research.
Past performance does not guarantee future performance. The Company shall not be considered an "expert" under the Securities Act of 1933. The Company does not warrant that this service complies with the requirements of the FINRA or any similar organization or with the securities laws of any jurisdiction."
Some jurisdictions do not allow the exclusion or limitation of implied warranties, so the above exclusions or limitations may not apply.
SOURCE: Condor Capital Wealth Management