Top Robo-Advisors for Ethical Investing: Making Money and Making a Difference
Top Robo-Advisors for Ethical Investing
What is Ethical Investing?
Ethical investing, also known as socially responsible investing (SRI) or sustainable investing, is a strategy that aims to generate financial returns while also making a positive impact on society or the environment. This can involve avoiding investments in companies that engage in harmful practices, such as fossil fuel extraction or child labor, and instead focusing on companies that promote sustainability, diversity, and social responsibility.
Why Choose a Robo-Advisor for Ethical Investing?
Robo-advisors are automated investment platforms that use algorithms to create and manage a diversified portfolio based on your financial goals and risk tolerance. They offer a convenient and cost-effective way to invest in ethical funds without the need for extensive research or expertise in the field. Additionally, robo-advisors typically have lower fees compared to traditional financial advisors.
Top Robo-Advisors for Ethical Investing
Wealthsimple
Wealthsimple is a popular robo-advisor that offers socially responsible investing options through its SRI portfolios. They prioritize investments in companies that have positive environmental, social, and governance (ESG) practices. Wealthsimple also provides personalized advice and financial planning services to help you achieve your investment goals.
Betterment
Betterment is another robo-advisor that offers socially responsible investing portfolios. They use a combination of ETFs (exchange-traded funds) that focus on companies with high ESG ratings. Betterment also offers tax-efficient investing strategies and automatic rebalancing to help optimize your portfolio for long-term growth.
Ellevest
Ellevest is a robo-advisor designed specifically for women, offering investment portfolios that align with their values and financial goals. They prioritize investments in companies that promote gender diversity and equality, as well as other social and environmental causes. Ellevest also provides personalized financial planning and coaching services tailored to women’s unique needs.
Conclusion
Choosing a robo-advisor for ethical investing can help you align your financial goals with your values and make a positive impact on the world. Consider exploring the options mentioned above to find the best robo-advisor that suits your investment preferences and objectives.