Robo-advisors have gained significant popularity in Ireland as a convenient and cost-effective investment solution. These automated platforms use advanced algorithms and user-friendly interfaces to empower investors in managing their portfolios and achieving their financial goals. However, with a wide array of Robo-advisors available, it can be challenging to determine which one is the best fit for your needs. That's where Robo-Advisor Finder comes in.
To help you make an informed decision, we've put together a list of the top Robo-advisors in Ireland for 2024. We considered key factors like fees, investment options, customer service, and user experience when making our picks.
Here’s the quick list of the top Robo-advisors in Ireland in 2024:
*Pies & Autoinvest is an execution only service, following your own investment decisions. Not investment advice or portfolio management.
Best Robo-advisors in Ireland
If you're an Irish investor, there are a few things you should keep in mind when choosing a Robo-advisor:
Competitive pricing: You want to make sure you're getting a good deal on your investment management.
Low minimum deposit requirements: Some Robo-advisors have high minimum deposit requirements, so make sure you find one that fits your budget.
The ability to customize investment portfolios: Not everyone has the same investment goals, so you want to make sure you can tailor your portfolio to your needs.
To list the best Robo-advisors in Ireland, we've checked different platforms and evaluated those main characteristics, and here are the results of our deep dive research.
A Spanish Robo-advisor that accepts clients from Ireland and offers a wide range of automatically managed portfolios. They focus on simplicity, transparency, and low costs and provide an innovative way for investing, helping investors achieve their financial objectives.
Key offerings include socially responsible investment options and customization capabilities. Portfolios are available in EUR and USD across 11 risk profiles, incorporating features like global diversification, tax-loss harvesting, and automatic rebalancing. Additionally, InbestMe's mobile app enables convenient portfolio monitoring.
Currently, four ETF strategies are available: Standard, SRI, Dynamic, and Value. The onboarding process is easy and fast, with the ability to open an account online with a minimum investment requirement of $/€5,000 which also varies based on the strategy. InbestMe also stands out for its cost efficiency, charging between 0.13% and 0.41% per year depending on the assets under management (AUM).
Larger portfolios over €100,000 gain access to a personal financial advisor offering a higher degree of customization, allowing for tailored investment plans based on your specific preferences and objectives.
Our InbestMe review provides further analysis of their offerings and features.
💵 Minimum balance: $50 to open an account; $500 to invest in Smart Portfolios
💰 Number of strategies: 80+
eToro is a multi-asset brokerage and social trading platform that was founded in 2007. It has become a leading online platform for social investing and trading in a wide range of financial assets, including equities, cryptocurrencies, commodities, Forex, and others.
eToro offers Smart Portfolios, a cutting-edge and automated way for investors to diversify their portfolios and gain exposure to major market trends. These ready-made portfolios are created by eToro analysts and innovative investment startups. There are over 80 Smart Portfolios covering a range of top market themes, trends, and industries, including disruptive technologies, the 5G revolution, renewable energy, the metaverse, and more.
These unique investment strategies provide investors with a convenient and diversified way to invest without incurring portfolio management fees. However, you must choose which Smart Portfolio is right for you, as there is no algorithm to recommend the best one for your profile. To do this, follow these three steps:
Choose a theme: Select a market theme or trend that aligns with your investment beliefs and vision.
Select a Smart Portfolio: Explore the range of Smart Portfolios available and select the one that suits your investment goals and preferences.
Start investing: Most Smart Portfolios require a minimum investment of $500.
Founded in 2002, XTB is a major player in the brokerage industry with extensive worldwide experience, regulated by the Financial Conduct Authority (FCA) - plus other relevant regulatory bodies - and listed on the Warsaw Stock Exchange.
From as low as €15, you can invest in XTB Investment Plans. You can build one or more portfolios (up to 10) based on over 350 ETFs. There is no cost in running any of the XTB Investment Plans. However, you might incur a 0.20% (min €10) ETF transaction fee if your monthly turnover (total amount of the transactions amount) exceeds €100,000. Otherwise, it is commission-free.
Be aware that this is not a “typical” robo-advisor. It does not create your investment plan for you - you are the one who needs to choose the financial instruments. Still, it is a cost-effective and intuitive way to invest for the long-term, automatically, without needing to pay annual management fees charged by other robo-advisors.
XTB Investment Plans homepage
You can invest automatically by selecting a specific amount, deposit period and method.
Finally, there are no restrictions: you can deposit or withdraw anytime and there is no minimum investment period.
XTB - Create a Plan
All in all, this is a great solution for anyone looking to invest in ETFs automatically, and with no fees.
💵 Minimum balance: €250 per month or €2,500 in a lump sum
💰 Number of strategies: The strategy is tailored to your profile
Moneycube is an investment management platform authorised by the Central Bank of Ireland that simplifies the process of investing by securely allocating savings into diversified, professionally managed investment funds. It is a good option for those looking for a service based in Ireland. Moneycube offers online investment and pension advice, empowering users to take charge of their savings with the right guidance.
Moneycube allows you to start investing immediately after clearly setting your goals and implementing a regular investment plan. Additionally, Moneycube provides the flexibility to monitor your investments at your convenience so you can increase or withdraw your funds whenever necessary, providing greater control over your investments.
When it comes to selecting investments, Moneycube focuses on investment funds as the preferred option for most users. They have established relationships with all five life assurance companies offering investment funds in Ireland, including Aviva, Irish Life, New Ireland, Standard Life Aberdeen, and Zurich. Additionally, Moneycube collaborates with Conexim, providing access to a vast selection of over 4,500 international funds.
In terms of fees, Moneycube works on keeping the total fee, including the fund manager's component (which is out of their control), below 1.5%. While this may be slightly higher compared to regular Robo-advisors, Moneycube offers the added benefit of a personalized investment portfolio managed by an Irish investment firm.
Established in 2015, Birdee is a Luxembourg-based Robo-advisor that aims to democratize responsible investing for individuals of all backgrounds. As a wholly-owned subsidiary of BNP Paribas Asset Management, a highly regarded European financial institution, Birdee benefits from a strong corporate backing, adding to its credibility and reliability as an investment platform.
Birdee’s distinguishing factor is their commitment to responsible investing. The platform was created with the belief that investing can have a direct impact on society, and therefore, they focus on offering portfolios composed of sustainable and responsible securities. By investing through Birdee, you have the opportunity to contribute to a more sustainable future while pursuing your financial goals. With 14 portfolios available, each composed of listed index funds or ETFs, you can select the investment theme that aligns with your interests and objectives, whether it's biotechnology, small caps & SMEs, real estate, or a more diversified approach.
Another key advantage of Birdee is their low minimum investment requirement of just €50, making investing accessible to everyone. However, as for fees, they charge 1% per year, which is a bit higher than other platforms. The onboarding process is simple: after answering a series of five questions to define your risk profile, you can choose your preferred investment theme and fund your account. Birdee also offers a simulator to test the performance of different portfolios.
On the downside, as mentioned by Investing in the Web, some of the funds recommended by Birdee when creating users portfolios are owned by BNP Paribas, which is a shareholder of Birdee. These funds have their own fees, which means that there might be a potential conflict of interests:
“... Birdee is very transparent regarding this issue and addresses it very clearly on this page. From the 46 ETFs used in all strategies, 12 are from BNP Paribas… In our view, it is not a “shocking” number, but you should keep a close eye to make sure you are not paying more than you should.”
💰 Number of strategies: A wide range of pies available on the platform
Trading 212 AutoInvest & Pies is a commission-free investment solution offered by Trading 212, a leading fintech company that aims to make financial markets accessible to everyone. It is authorized and regulated by reputable financial authorities, including the Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). They have over 3 million funded accounts and £4 billion in assets under management.
One of the standout features of Trading 212 is its AutoInvest & Pies functionality, which lets you create customized portfolios called "Pies" that consist of a selection of stocks and ETFs. You have the flexibility to choose your desired securities and set target weights for each holding within your Pie with the ability to hold up to 50 securities within each pie.
Trading 212 also offers a social community aspect, where users can access a Pie Library, interact with other investors, and even copy Pies created by other community members. With the Auto-invest feature, you can deposit funds and then automatically invest them into your Pie. Moreover, if the investments in your Pie deviate from their target allocations, you can rebalance the Pie at any time by selecting the ‘Rebalance’ option.
Opening an account with Trading 212 is accessible to all, as the platform requires a minimum balance of just €1. Additionally, Trading 212 offers a demo account option, allowing users to practice and familiarize themselves with the platform before committing real funds.
While Trading 212 AutoInvest & Pies does not charge any fees for auto-investing or creating Pies, it's important to note that a 0.15% foreign exchange fee is applicable for buying assets in a currency different from the account's base currency. Nevertheless, the absence of commission fees for investing and the low entry requirement make Trading 212 an attractive choice for individuals seeking a cost-effective and user-friendly investment platform.
In conclusion, Robo-advisors have become a popular option for investors seeking hassle-free and automated investment solutions. As the number of Robo-advisors in Ireland continues to grow, selecting the right one can be challenging.
In this article, we have provided a list of Ireland’s best Robo-advisors to help investors narrow down their choices. However, it's important to note that there are many other companies worth considering. We encourage you to review our comprehensive list of Robo-advisors in Ireland for further options.
When evaluating Robo-advisors, we recommend visiting their websites to learn about their investment strategies and approaches. Additionally, comparing the fees charged, features, and customer experience are essential steps in the selection process.
A reminder that the above should not be construed as investment advice and should be considered information only. Investors should do their own research and due diligence about the services and opportunities best suited for their risk, returns, and impact strategy.
Wishing you successful and informed investments!
FAQs
What is the best Robo-advisor in Ireland?
The best Robo-advisor in Ireland can vary depending on your individual preferences, investment goals, and risk tolerance. However, here is a list of Robo-advisors that we think are among the best for Irish investors:
Most Robo-advisors have a very low minimum balance requirement to start investing (you can find Robo-advisors that allow you to start investing starting at $5).
Can I customize my investment portfolio with a Robo-advisor?
The degree of customization may vary between Robo-advisors. Typically, you can select from a range of pre-constructed portfolios based on your risk tolerance, investment goals, and preferences. In addition, some Robo-advisors may offer the option to adjust portfolio allocations based on specific investment preferences or restrictions, or they might suggest personalized strategies.
How much money do I need to invest with a Robo-advisor?
Most Robo-advisors have a very low minimum balance requirement to start investing (you can find Robo-advisors that allow you to start investing starting at €5).
Do Robo-advisors beat the market?
No, most Robo-advisors invest in ETFs and work on matching the performance of a particular market benchmark. So, they tend to closely replicate the market's performance rather than beat it.
What is the Exit tax in Ireland?
Exit tax is a tax imposed by the Irish government on the profits earned from investments in funds. This tax does not apply to pension investments, focusing specifically on non-pension investment funds.
When is Exit tax charged?
Exit tax is charged either when you sell your investment or on the 8th anniversary of your investment, depending on which event occurs earlier. This means that you may be subject to exit tax if you decide to sell your investment before the 8th anniversary, or if the 8th anniversary of your investment passes. It is best to consult with your tax advisor for further guidance.
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