The 26th edition of the Robo Report covers the fourth quarter of 2022 and the tenth edition of the Robo Ranking. The report is a continuation of an ongoing study that monitors well-known robo advisors. The report provides a reliable resource for both investors and professionals interested in the digital advice industry. The winner of Best Overall Robo is Wealthfront, which provides a top-tier digital experience and strikes an impressive balance between simplicity, functionality, and customization. SoFi is the winner for Best Robo for First-Time Investors due to its budgeting, career coaching, live planning, low fees, and ability to manage many areas of one's financial life on a single platform. Wealthfront, Schwab’s Domestic Focus, and Morgan Stanley Inflation Conscious were the decisive winning accounts for the year. The major driver of fixed income performance over the last three years has been the allocation to municipal bonds. Betterment announced it was transitioning to a subscription-based fee of $4 a month for smaller accounts without recurring contributions, significantly raising costs for many clients.
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