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Vanguard, Betterment Top New Ranking of Robo-Advisers

Morningstar waded through the crowded field and looked at cost, transparency, asset allocation and financial planning tools.

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Photographer: Sergey Mironov/Moment/Getty Images

For investors who want to put their money on autopilot, there is no shortage of robo-advisers to choose from. But which one’s the best? The popular investment platforms can vastly differ in quality and value, according to a new ranking.

A Morningstar Inc. analysis of 16 robo-advisers says the products offered by Vanguard Group and Betterment are the best overall options to help investors achieve their financial goals. The two rose to the top of the list thanks to their “low cost, transparency, reasonable asset allocation approach and broad range of financial planning tools,” the report said.