Robo-advisors are gaining in popularity, offering investors cheaper, customized portfolios — but when it comes to crypto, even they won't take their own advice.
, effectively a quarterly performance review for well-known robo-advisors, tracks dozens of such platforms built by asset management titans like Vanguard, to fintechs like Acorns, Betterment, SoFi and Wealthfront.
They are graded on access to advisors, financial planning, transparency and conflicts, features, customer experience, costs as well as performance. But crypto is not incorporated into qualitative scoring, Thomas Leahy, co-author of the Robo Report, tells Axios.The big picturethey have lower minimum buy-ins , offer low-cost ETFs and mutual funds and services like tax-loss harvesting. Some even offer live human advisors for additional support."Betterment and Wealthfront are framing investments in the context of a [diversified] plan," Leahy says.
"If you’re holding crypto and it has a large drawdown, I would rather you see that in the platform — to see the negative effect on your future rather than seeing it on Coinbase, where you might not get that context," he says.
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