What I soon learned, however, is that these Facebook moms groups were sometimes helpful, but often toxic. Helpful: meeting a fellow mom whod recently moved into a building we were considering and could share firsthand knowledge about the neighborhood and nearby daycare. Toxic: heated arguments over whether to breastfeed or bottle-feed; when and how to start sleep training; to send your kid to a Montessori school or (gasp!) a traditional one. There are so many opinions and contradictory advice, not to mention judgment for days! Its enough to drive a sleep-deprived anxious first-time mom up the wall. 

According to a new study from Pepperdine University, the more time women spend in these mom-focused social media groups, the higher their cortisol, or stress levels, are. Yup, sounds about right.

Researchers recruited 125 first-time mothers; filtered out those whod reported additional stress factors, such as pregnancy, mental health issues and substance abuse; and moved forward with 47 participants who were mostly white, college-educated, as well as active on social media and members of mom groups. More than half of the participants spent at least two hours a day on social media sites and 46.8% used social media geared toward mothers at least four times a day.

The mothers completed a four-day monitoring period, which included daily questionnaires and saliva samples to analyze their cortisol levels. Afterward, researchers found that the spikes in cortisol were likely due to negative interactions with other moms on social networking sites and more time spent with these interactions.

While Im technically still a member of these Facebook groups, I only hop in when I need to find something and I quickly exit. Occasionally Ill linger to check out the discussions, but always as an observer, never as a commenterlest someone lambast me for my parenting decisions. It doesnt help that Im often one of the few Black moms, an experience Washington Post senior culture writer and author Helena Andrews-Dyer candidly discusses in her latest book, The Mamas: What I Learned About Kids, Class and Race From Moms Not Like Me.

One of the mom friends Andrews-Dyer interviewed for the book described online mom groups as something for stay-at-home/gently employed white women who make Goldfish crackers from scratch and decorate their front porches for every season. I cant say that shes wrong. Its hard to miss a space thats not designed with me and my experiences in mind.

Instead, Ive surprisingly found Twitter to be the most helpful when it comes to finding parenting tips as a new mom, as I often found myself tweeting into the abyss during those late-night/early-morning feedings wondering whether this was normal or that was normal. Ive had Twitter Moms, as Ive come to lovingly call them, give me (non-judgmental) advice on everything from sleep training to starting daycare. 

Ive also found solace in my text group chats with two other new moms, both of whom happen to be Blackeach of us intentionally creating the kind of online community weve all been craving. The kind of community these Facebook groups promise, but, at least in my experience, rarely deliver on, especially for moms like us. The helpfulness of online mom groups all depend on what youre hoping to get out of them and, as with most information on the internet, your ability to take everything with a grain of salt. 

My advice is for mothers to first decide if the online space is the best place to seek support, given their existing tendencies to compare and their existing interpersonal relationships, says Dr. Lauren Amaro, an associate professor of communications at Pepperdine and one of the researchers on the study, says in a press release.

If a mom needs practical information (hey Facebook group, which pediatricians do you recommend?), online mom groups can be a wealth of knowledge and advice, though discernment is necessary. If its friendship or reduced feelings of isolation, some online mom groups can also be wonderfully encouraging places to make real-life friends, but some are not. Moms should explore the culture of a group prior to engaging. Its always worth questioning why and what youre scrolling.

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But not all robo-advisor platforms are created equal. Some are more expensive than others or require a steep minimum balance to get started. Some offer one-on-one guidance from a financial professional, while others may offer no human support at all.

To help make the selection process a little easier, the Fortune Recommends^TM editorial team reviewed nearly two dozen robo-advisor platforms and came up with a list of our top 10 picks. When conducting our review we considered the minimum required deposit to open an account, commission fees, annual fees, customer support, one-on-one advisory service, sign-up bonuses, and account closure fees. (Read our full methodology here)

All fees listed are up to date as of December 16, 2022.

1. Schwab Intelligent Portfolios
2. Merrill Edge Guided Investing
3. Ally Invest Managed Portfolios
4. INVEST for Amex by Vanguard
5. Fidelity Go
6. SigFig
7. UBS Advice Advantage
8. E*TRADE Core
9. Wealthfront
10. Betterment

The 10 best robo-advisors

Heres a closer look at the top 10 on our list including key information about their fees, customer service offerings, and other important information to consider when opening an account.

1. Schwab Intelligent Portfolios: For the investor seeking minimal fees and personalized support 

Key numbers 
Commission: $0
Account minimum: $5,000
Annual advisory fee: $0
Sign-up bonus: $0
Account closing fee: $0

Why we picked it: Schwab Intelligent Portfolios offers the best all around service for the price Though the initial deposit to get started is steeper than many other platforms, theres no advisory fees, no commissions, and no account closure fees. In addition, customers get 24/7 live support from U.S.-based professionals and the Schwab robo-advisor actively monitors and automatically rebalances your portfolio when needed. In addition to phone support, the platform also offers chat support with account specialists. 

2. Merrill Edge Guided Investing: For those seeking a sign-up bonus 

Key numbers
Commission: $0
Account minimum: $1,000
Annual advisory fee: 0.45%0.85%
Sign-up bonus: $100$600
Account closing fee: $49.95

Why we picked it: Merrill Edge comes with more fees than some of the other accounts that made our list. But its also one of the few platforms currently offering a sign-up bonus. Though youll need to deposit a significant amount of money to earn a bonus. Those who fund their account within 45 days of opening with at least $20,000 will receive a $100 cash bonus. The bonus increases to $150 when you deposit from $50,000 to $99,000 within 45 days, while deposits of between $100,000 to $199,999 earn $250. 

Those who deposit $200,000 or more earn a $600 bonus. Another benefit of this platform is phone access to personalized service from advisors. However, the $1,000 minimum to open an account with Merrill Edge may be too high for some and there are some fees to consider, including advisory and account closure fees. 

3. Ally Invest Managed Portfolios: For investors who have less money to get started but still want personalized support  

Key numbers
Commission: $0
Account minimum: $100
Annual advisory fee: 0%0.30%
Sign-up bonus: $0
Account closing fee: $0

Why we picked it: Ally makes it easy to get started investing with just a $100 minimum deposit requirement and few fees for its service.Those who open Allys Cash-enhanced portfolio, which requires setting aside 30% of your portfolio in cash to act as a buffer against volatility, wont pay advisory fees. 

However, when opening Allys Market-focused portfolio, which only requires a 2% cash buffer set aside, theres a 0.30% advisory fee. Ally Invest customers get access to portfolio specialists via phone Monday through Friday. The Ally platform offers chat customer service and you can also reach out with questions via email.

4. INVEST for Amex by Vanguard: For American Express Card members who want assistance investing

Key numbers 
Commission: $0
Account minimum: $10,000
Annual advisory fee: 0.50%
Sign-up bonus: $0
Account closing fee: $0

Why we picked it: INVEST for Amex by Vanguard is designed for basic American Express cardholders and offers membership rewards points when you invest. Another particularly notable feature of this platform is the dedicated, one-on-one consultation it provides with a Vanguard representative once you enroll. On the downside, while theres no advisory fee for the first 90 days, after that customers pay a fee of up to 0.50% on assets managed by the INVEST platform.  

5. Fidelity Go: For those seeking minimal opening deposit requirements 

Key numbers
Commission: $0
Account minimum: $10 
Annual advisory fee: $0
Sign-up bonus: $0
Account closing fee: $0

Why we picked it: If youre curious about robo-advisor platforms but dont have much money available to get started, Fidelity Go may be a good choice. Theres no deposit required to open an account and just $10 is required to get started investing and exploring the robo-advisor experience. Yet another benefit of the Fidelity Go platform is the lack of fees across the board. For those who have less than $25,000 under management, theres no annual advisory fee. However, those with $25,000 or more in a Fidelity Go account will pay a 0.35% each year. In exchange for that 0.35% fee, customers get unlimited one-on-one coaching.

6. SigFig: For those seeking unlimited access to advisors 

Key numbers
Commission: $0
Account minimum: $2,000
Annual advisory fee: 0%0.25%
Sign-up bonus: $0
Account closing fee: $0

Why we picked it: Perhaps the most notable feature about a SigFig robo-advisor account is that it offers unlimited access to advisors no matter what your account balance. This is an invaluable feature. The platforms customer service options are also admirable and include phone, email, and chat. The platform also constantly monitors your account and rebalances it when necessary. On the downside, youll need $2,000 to open a SigFig account. And while your first $10,000 invested is managed for free, beyond that youll pay a 0.25% annual fee. 

7. UBS Advice Advantage: For those who have a substantial amount of money to begin investing with

Key numbers
Commission: $0
Account minimum: $10,000
Annual advisory fee: 0.75%
Sign-up bonus: $0
Account closing fee: $0

Why we picked it: At $10,000, UBS has the steepest minimum balance on our list. However, users are able to contact UBS financial advisors whenever they have questions. Advisors can be reached Monday through Friday from 8:30 a.m. EST until 7:30 p.m. EST. Youll also pay an advisory fee with UBS, which is worth keeping in mind. However, the platform offers automated rebalancing, tax-loss harvesting, and ongoing oversight by experienced financial professionals. 

8. E*TRADE Core Portfolios: For new investors who want access to educational information 

Key numbers
Commission: $0
Account minimum: $500
Annual advisory fee: $0
Sign-up bonus: $50$3,500
Account closing fee: $75

Why we picked it: Perhaps one of the best known robo-advisors, E*TRADE offers a number of benefits including no annual advisory fees and a sliding scale sign-up bonus that starts at $50 for those who deposit at least $5,000 within 60 days of opening an account. Its platform is also easy to use and offers a suite of educational information and articles for users who are new to investing. On the downside, the $500 account minimum may be an issue for some and theres also an account closure fee. Customer service options include 24/7 phone, email, and chat via the E*TRADE website.

9. Wealthfront: For those interested in customized robo-portfolios

Key numbers
Commission: $0
Account minimum: $500
Annual advisory fee: 0.25%
Sign-up bonus: $0
Account closing fee: $0

Why we picked it: Wealthfronts robo-advisor platform allows users to create portfolios that are curated and customized based on specific interests such as social responsibility. Youll need $500 to open a Wealthfront account however, which may not be accessible for everyone. In addition, theres an advisory fee of 0.25% per year. Wealthfront customers have phone access to product specialists and can also reach professionals via email. The platform promises emails are answered within one business day.

10. Betterment: For beginning investors looking for an easy-to-use platform and minimal fees

Key numbers
Commission: $0
Account minimum: $0
Annual advisory fee: 0.25%
Sign-up bonus: $0
Account closing fee: $0

Why we picked it: Betterment offers a very user-friendly platform that allows for setting up your account within just a few minutes after answering a few questions. You dont need any money to open an account but you will need $10 to start investing. The platform offers automatic rebalancing and dividend reinvestment for no added cost. Users can also set up automated deposits to their Betterment account to continue funding their investment goals. 

One drawback to consider however is that theres a fee to access one-on-one advice from certified financial planners. Customers will need to purchase a one-time package for that support, which costs $299 to $399, or switch to a premium plan that includes continuous support. Premium plans have a 0.15% add-on annual advisory fee.

What is a robo-advisor? 

Robo-advisors are platforms that offer automated investing and wealth management services based on the use of mathematical algorithms. Customers provide some initial information about their financial goals, risk tolerance, and personal background and the robo-advisor identifies suitable assets and creates a portfolio. Many robo-advisors also automatically rebalance portfolios and provide tax-loss harvesting.

These online portfolio management services first emerged on the scene back in 2010 and over the years the field has grown to include more than 100 robo-advisor platforms across 15 countries, according to a report from Deloitte.

How do I open a robo-advisor account?

Opening a robo-advisor account is simple. It typically involves completing an online questionnaire that requires providing information about yourself, your financial goals, and your risk tolerance. After that, you fund the account to get started.

Can you lose money with a robo-advisor?

As with any type of investing, there are risks involved and it is possible to lose money with the ups and downs of the market.

Our methodology 

To identify our top picks for the best robo advisors, Fortune Recommends^TM compared 20 different robo advisor platforms. We ranked each account based on seven categories: commission fees, account minimum, annual advisory fees, customer service, human advisor availability, sign-up bonus, and account closure (ACAT) fees.

All of the accounts on our list are available to anyone in the U.S., so you can sign up for any offering no matter where youre located. 

The core categories we analyzed are:

• Commission fee (25%): This represents the fee some investment platforms or brokers charge for buying or selling stocks at your request. It is sometimes referred to as a trading fee.
• Account minimum (20%): Some robo advisors require a minimum deposit to establish an account, which in some instances can be as high as $10,000 or more. We ranked robo advisors with low to zero minimum opening balances higher.  
• Annual advisory fee (20%): An annual advisory fee is charged by some robo advisors to cover the services provided by the financial platform and its professionals. The fee is charged as a flat dollar amount or as a percentage of assets under management on the platform. To calculate this fee for platforms charging a percentage, we used the minimum required opening balance of  $10,000, which is the highest minimum balance amount among all robo advisors we reviewed. 
• Customer service (10%): The ability to get questions answered easily is critical when it comes to managing your money. Top picks in our ranking offer customers various ways to get in contact: chat support, by phone, or even emailwith phone support being the most highly rated. 
• Sign-up bonus (10%): Some robo advisors periodically provide a cash sign-up bonus to attract new customers. In some cases the bonus is as high as $600 or more.
• Human advisor (10%): Not all robo advisor platforms offer customers the ability to interact with a financial advisor but the best do. Those who provide professional, one-on-one financial guidance were scored more favorably.

Account closing fee (5%): Fees can add up quickly. Yet another fee charged by some platforms is an account closure or ACAT fee. Robo advisors that do not charge ACAT fees were rated higher.

Philip Dybvig, who shared this years Nobel Prize in economics for research into bank failures, has been questioned in the past several weeks by the Title IX office at Washington University in St. Louis, his lawyer Andrew Miltenberg told The Associated Press.

Miltenberg said the allegations are factually inaccurate. Dybvig, a longtime banking and finance professor at the university, didnt immediately respond to an email message seeking comment.

Dybvig, fellow economist Douglas W. Diamond and former Federal Reserve Chair Ben Bernanke won the Nobel Prize in economics in October for research into bank failures work that built on lessons learned in the Great Depression and helped shape Americas aggressive response to the 2007-2008 financial crisis. The findings in the early 1980s laid the foundations for regulating financial markets, the Nobel panel said.

The Nobel panel at the Royal Swedish Academy of Sciences, in recognizing the three winners, said their research showed why avoiding bank collapses is vital.

Bloomberg News reported that it has reviewed emails that show that the Title IX office, which handles campus sexual harassment complaints, has reached out to at least three former students since October to interview them about claims involving Dybvig. Theyre among a group of seven former students Bloomberg reported it had spoken with who allege Dybvig sexually harassed them. Most of the women Bloomberg interviewed spoke on the condition of anonymity.

Tore Ellingsen, chair of the Nobels Economic Sciences Prize Committee, told Bloomberg that the Royal Swedish Academy of Sciences, which oversees the awards, contacted the university to make sure they had a fair process to handle the accusations.

As long as the university has not determined that Dybvig has done something wrong, I think we owe him an untarnished celebration of his great scientific achievement, Ellingsen told Bloomberg.

The Nobel Peace Prize and Foundation didnt immediately respond to email messages from the AP.

The university didnt immediately respond Friday to emails and phone messages from the AP. University spokesperson Julie Flory told Bloomberg that the school doesnt comment on specific cases but takes sexual misconduct seriously and will investigate any allegations.

Miltenberg said he was suspicious of the timing of the allegations, noting that they surfaced after the award was announced but before the scheduled award ceremony.

We believe, he said, that this is a situation of professional rivalry.

Miltenberg said that Dybvig faces no restrictions and that he already was scheduled not to teach in the spring semester well in advance of the allegations arising.

Miltenberg said it is his understanding that the investigation is in the preliminary stages and that the Title IX office wants to speak with Dybvig again.

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The maverick philanthropist has earmarked at least $3.1 billion for organizations in southern states since 2020 nearly a third of the $10.6 billion in gifts disclosed on her new Yield Giving website. Her two largest donations in the region went to Prairie View A&M University in Texas and Enterprise Community Partners, a national organization focused on housing and racial equity. Both received $50 million. Altogether, shes made 479 donations in the region.

Scotts focus on the South is just one of the early findings from the data posted on Yield Giving. Altogether, she has made 1,604 gifts that total $14 billion. The website lists the recipients for all the donations, including amounts for 1,153. A full report of those outstanding donation amounts has been delayed, the site says, to benefit the recipient groups.

With each donation, the website notes one or more of 53 focus areas for the nonprofit. Because her contributions are unrestricted, the organization can use the money for operations or any area of its mission work.

For instance, Scott lists a $10 million gift to Goodwill Industries of Middle Tennessee as addressing economic development but also financial inclusion, workforce development, vocational education, and youth development.

As a result, the data provides a sense of Scotts giving priorities, though not a precise accounting. The philanthropist has earmarked the most cash from her reported donations to education, with $8.9 billion going to groups with a focus on K-12, post-secondary, vocational, or some other form of learning institution. Health care groups have received $8.4 billion. (Donations may be designated for multiple focus areas; gifts to address education may also be counted as targeting health or other topics.)

Outspoken on racial and gender issues, Scott made $7.5 billion in gifts to groups that focus on equity and justice.

Other takeaways from the data:

The vast majority of her disclosed giving $8.9 billion went to domestic issues. Globally focused groups received a little more than $1 billion.

Co-Impact, a collaborative of big philanthropists trying to improve the health and well-being of people globally, received the largest reported gift, $75 million. The next largest were: GiveDirectly ($60 million), the Hispanic Scholarship Fund, Prairie View, and Enterprise Community Partners ($50 million each).

Affiliates of large federated organizations collectively saw gifts of hundreds of millions, including United Ways, which received at least $625 million. Earlier this year, Habitat for Humanity announced $436 million in gifts from Scott to its network of groups

Her smallest gifts ($300,000) went to Junior Achievement of New Mexico, the Caribe Girl Scouts Council in Puerto Rico, and Junior Achievement of West Kentucky.

The average gift size was $9.2 million.

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