The following criteria was used to determine the rankings:
- Minimum account opening balances
- Fees and costs
- The variety of available investment accounts
- Access to human financial experts and tech support
Betterment was ranked best for beginners while Wealthfront was best robo-advisor for the lowest fees. Sofi, meanwhile, was the best robo-advisor when it comes to extra perks. Ellevest was ranked as best for women, while Acorns for micro-investing. Finally, TD Ameritrade is ranked as best for traditional investors.