Top Robo-Advisors for Ethical Investing
What is Ethical Investing?
Ethical investing, also known as socially responsible investing (SRI), is the practice of investing in companies that align with your personal values and beliefs. This can include avoiding investments in companies that engage in practices such as environmental harm, human rights violations, or unethical business practices.
Why Choose a Robo-Advisor for Ethical Investing?
Robo-advisors are automated investment platforms that use algorithms to create and manage investment portfolios. They can be a great option for ethical investing because they can help you build a diversified portfolio of socially responsible investments without the need for extensive research or expertise.
Top Robo-Advisors for Ethical Investing
1. Wealthsimple
Wealthsimple is a popular robo-advisor that offers socially responsible investing options. They offer a range of socially responsible ETFs that focus on environmental, social, and governance (ESG) factors. Wealthsimple also provides personalized portfolio recommendations based on your individual values and goals.
2. Betterment
Betterment is another robo-advisor that offers socially responsible investing options. They offer a socially responsible portfolio that includes companies with high ESG ratings and excludes companies involved in controversial industries such as tobacco, weapons, and fossil fuels. Betterment also provides tools and resources to help you align your investments with your values.
3. Ellevest
Ellevest is a robo-advisor specifically designed for women investors, but their investment options are open to all. They offer a socially responsible portfolio that focuses on companies with strong gender diversity and workplace equality practices. Ellevest also provides personalized investment recommendations based on your financial goals and values.
4. OpenInvest
OpenInvest is a robo-advisor that allows you to customize your investment portfolio based on your values and beliefs. They offer a range of socially responsible investment options, including divestment from fossil fuels, support for renewable energy, and gender equality. OpenInvest also provides transparency and impact reporting so you can see the social and environmental impact of your investments.
Conclusion
Choosing a robo-advisor for ethical investing can help you align your investments with your values and beliefs. With options like Wealthsimple, Betterment, Ellevest, and OpenInvest, you can build a socially responsible investment portfolio that reflects your commitment to making a positive impact on the world.
