Top Robo-Advisors for Ethical Investing

What is Ethical Investing?

Ethical investing, also known as socially responsible investing (SRI) or sustainable investing, involves selecting investments based on ethical or moral principles. This can include avoiding companies involved in industries such as tobacco, weapons, or fossil fuels, as well as seeking out companies that have a positive impact on society and the environment.

Why Choose a Robo-Advisor?

Robo-advisors are automated investment platforms that use algorithms to create and manage investment portfolios. They are a popular choice for ethical investing because they offer low fees, personalized portfolios, and the ability to easily incorporate your ethical preferences into your investment strategy.

Top Robo-Advisors for Ethical Investing

1. Wealthsimple

Wealthsimple offers a socially responsible investing portfolio that includes companies with strong environmental, social, and governance (ESG) practices. They also provide a Halal investing portfolio for Muslim investors.

2. Betterment

Betterment offers a socially responsible investing portfolio that excludes companies involved in industries such as fossil fuels, tobacco, and weapons. They also provide a feature that allows you to customize your portfolio based on your ethical preferences.

3. Ellevest

Ellevest is a robo-advisor designed specifically for women, and they offer a socially responsible investing portfolio that focuses on gender diversity and companies with strong ESG practices. They also provide personalized financial planning services tailored to women’s unique financial needs.

4. EarthFolio

EarthFolio is a robo-advisor that specializes in sustainable and impact investing. They offer portfolios that focus on environmental sustainability, social responsibility, and corporate governance. EarthFolio also provides educational resources on sustainable investing.

5. OpenInvest

OpenInvest is a robo-advisor that allows you to customize your portfolio based on your ethical preferences. They offer a variety of causes to invest in, such as gender equality, climate change, and human rights. OpenInvest also provides transparency on the companies in your portfolio and their impact on society and the environment.

Conclusion

When it comes to ethical investing, robo-advisors can be a convenient and cost-effective way to align your investments with your values. By choosing a robo-advisor that offers socially responsible investing options, you can make a positive impact on the world while still achieving your financial goals.