The three ‘robo advisors’ that will become your allies to invest this summer

Making the money saved profitable continues to be a pending task for most Spaniards.

The three ‘robo advisors’ that will become your allies to invest this summer

Making the money saved profitable continues to be a pending task for most Spaniards. This is reflected in a study by Inverco: 40% of family savings stays in accounts that do not produce profits on this capital.

Among the reasons why savers do not get a return on their money, there are two major obstacles. The first is that the financial and banking market does not offer interest-bearing accounts with attractive returns and the same thing happens with fixed-term deposits -none exceeds 5%-. And the second is that investing in stocks and investment funds generates mistrust and fear of putting capital at risk.

However, and as explained by the experts at the financial comparator, the opportunities to get advice when it comes to investing at a low cost in the digital world are numerous. "Although yes, it is important to investigate and trust only regulated entities or services and not any digital company that appears on the Internet," the specialists emphasize.

In this sense, the market offers the services of robo advisors, or tools that advise beginner investors so that they can take their first steps in the world of investment without taking too much risk and without paying large commissions.

Robo advisors can also be called automated investment managers. They work through algorithms and are managed entirely online. What they basically do is build different portfolios of securities and offer their clients investment options according to their tolerance for risk.

The main advantage of these entities is that they offer investment portfolios that are adapted to the needs of each person and that combine fixed income and variable income in different percentages.

To determine which portfolio suits each person, robo advisors carry out a suitability test at the beginning and after obtaining the results, the system recommends several investment alternatives that are adapted to the level of risk that you want to assume.

Another of the great advantages of robo advisors is the low price of their services. Part of its operation is the automation of some processes because they use algorithms to adjust the portfolios, so that the commissions are much lower than in other traditional bank investment services. Also an important factor is the fact that the investment funds they select for the portfolios are index investment funds and the commissions derived from these are cheaper than in other types of assets.

"These factors help the commissions to be paid by robo advisors to be, in general, less than 1% per year," they detail from

In the Spanish market there are various robo advisors, some belonging to banks and others are financial entities that do not depend on any bank. experts highlight three automated managers that are positioned as consumer favorites: Indexa Capital, inbestMe and Finizens.

These three entities are independent from the banks and have similar characteristics, although with small differences that make one or the other better suited to each profile.

Indexa Capital offers up to 10 different portfolios to contract and the minimum to invest in its products is 3,000 euros; inbestMe, on the other hand, offers 11 different portfolios from an investment of 1,000 euros; and Finizens has five portfolios with different combinations of risk and asks for a minimum of 1,000 euros.