Robo-advisors are one of my favorite financial tools to recommend for long-term savings and investing goals. (It's one type of investing account.)
While the name can be intimidating, good robo-advisors are easy to set up and manage, have very low fees, and require little work over the long term.
I am a fan of robo-advisors overall, especially for first-time and inexperienced investors — women investors in particular. This is because:
- Robo advisors are low-fee. This means that you pay a very low amount of money for the program to help manage and grow your money.
- Robo advisors are easy to use. Some are easier than others (see below), but compared with brokerages I have used, robo advisors are very, very simple and intuitive. One of the main reasons even very smart, successful and educated women don't invest, or don't invest as much or as aggressively as they should, is that women tend to be intimidated by financial services products. It is no wonder! These products are almost all designed by men, and want you to feel intimidated — so that you'll pay high fees for one of their advisors (usually men) to take care of your pretty little head. Eff that.
- Robo advisors are run by computers, so human bias — including gender bias — is taken out of the equation (at least mostly, because let's get real: the algorithms are designed mostly by men).
In this post I:
- Explain what a robo-advisor is, how robo-advisors work,
- What to look for and questions to ask before signing on to a robo-advisor, and.
- A list of the top financial robo-advisors, with details of the pros and cons of each. These include:
What is a robo-advisor?
A robo-advisor, by definition, is an online platform that manages your money without a lot (or any) human interaction. The fact that this process is handled by computers and not humans has resulted in higher returns and much lower fees.
How to robo-advisors work?
Robo-advisors automatically select investments based on your goals, age, risk tolerance, and other factors to build a diversified portfolio for you. The software then automatically makes changes to your investments to align your portfolio back to a target allocation as the stocks and bonds in your portfolio fluctuate — and helps you reach your goals. Some robo-advisors make trades automatically to help reduce your tax bill through tax-loss harvesting.
Again, all of this management of your hard-earned money is done automatically through software. Decades of research has found that computers are better at investing than humans — the fewer grubby hands on your money, the better!
What are robo-advisor fees?
One of the best features of robo-advisors is that they are typically much cheaper than a traditional financial advisor.
A financial advisor will charge 1% to 2% of assets under management (which means: your investments).
Robo-advisors might charge a flat monthly fee of $15 to $200 per month, depending on the size of your assets. Other robo-advisors charge between .15% and .50%, depending on the size of your portfolio (with a higher fee for larger balances).
For example: a $100,000 investment with a .50% robo-advisor fee would mean a fee of $500 per year. That same $100,000 invested with a traditional, human advisor at 2% annually would cost $2,000!
What are robo-advisor returns?
BackEnd Benchmarking’s Robo Report finds that all the major robo-advisors, including those listed in this post, earned between 8% and 11% each of the past two years.
Is a robo-advisor worth it?
Low fees, ease of use and accessibility for all investors make robo-advisors a great option for the majority of investors (very high net worth people may have special needs). One report on NerdWallet found that 1% in fees can cost an investors $590,000 over 40 years of investing in both fees and performance! Writes NerdWallet:
The impact of fees is twofold: An investor pays an ever-increasing amount in fees as account balances grow, because the fees are based on a percentage of assets. And fees also strike a blow to the portfolio’s returns. That’s because every dollar taken out to cover management costs is one less dollar left to invest in the portfolio to compound and grow. So in addition to paying potentially hundreds of thousands of dollars in avoidable fees, our research shows that an investor gives up many times that amount in lost portfolio returns over time.
Who should use a robo-advisor?
Anyone can use a robo-advisor, including people who don't have a lot of money. In fact, my favorite robo-advisor is Ellevest, which requires $0 to start investing.
Many traditional financial advisors require a high minimum investment of $200,000 or more.
Typically, robo-advisors are drawn to this tool because they don't believe they have enough assets to hire a financial advisor yet, or someone who wants the benefits of machine learning, or artificial intelligence, that come with robo-advising: the buying and selling of stocks, bonds and funds to take advantage of the markets ups and down, tax benefits, and help you reach your short- and long-term goals.
Q: Are robo-advisors just for retirement investments?
A: No! Most financial robo-advisors allow you to create investment goals for a major expense (house, car, emergency fund, baby, vacation, remodel, divorce, if you're saving up!), education, retirement, or general investing.
Ellevest's financial planner is a great, free tool to use to learn about what it will take to reach any number of goals. Check out Ellevest's free financial planner now >>
Q: I know I'm supposed to rebalance my accounts, but not sure a) what that really means, b) how to do it. WTF? What am I supposed to do about rebalancing in a robo-advisor?
A: In a nutshell, rebalancing means that your investments are spread across a lot of types of investments, so you have the best chance of making the most money, while being protected against losing money, as the market goes up and down.
Don't try to rebalance your investment yourself. Robo-advisors' computers spend all day and night rebalancing investments, based on very sophisticated algorithms, and whether you take money out of your account, put money in, as well as considering how the different types of investments grow and shrink, which happens organically all the time. In short: A robo-advisor takes care of it.
Q: Tax loss harvesting. WTF is that?
A: Tax loss harvesting is the practice of selling a stock, bond or other asset that has decreased in value, or experienced a loss, and replaced by a similar one, while the “loss” is declared on your taxes, as a deduction. Tax loss harvesting is legal, and smart rich people love it. I don't know how to do this, but Betterment does, and does it automatically for you, if you chose. Just sayin'.
Q: I try to live a conscious existence and prioritize socially responsible everything, including investments.
A: Ellevest Impact Portfolio is similar to those offered byother robo-advisors, most of which have socially responsible investing (known as “SI” in the biz) fund that reduces your exposure to companies that don't meet certain social, environmental, and governance criteria.
In other words: Robo-advisors want your money, and offer socially responsible investing.
Q: I'm new to investing and way behind on where I should be. Don't I need a human to help me?
A: Ultimately, how and where you invest your money is a personal decision — a blog post cannot answer that 100% for you. However, Ellevest and other robo-advisors retirement and investment planning tools are more or less the same tools that human advisors use to help you with your finances. Plus, Betterment gives even its basic-level member clients access to human advisors via the chat function on their app — whenever they want (opposed to when the human advisor can fit you into their schedule). The price difference between Ellevest and a human, traditional financial advisor is often the determining factor in whether to go with a human financial advisor, or a robo advisor like Betterment.
If you want some personal guidance from a human, Ellevest's Premium service gives one-on-one access to certified financial planners, as well ass one-on-one access to its executive coaches, for guidance on career, salary and negotiations.
Ellevest is one of the largest, most established robo-advisors, but it stands out for one reason:
Ellevest focuses exclusively on serving women. Read my personal experience using Ellevest, where I share how it works.
Why? Because women and men have different investment styles, different goals and needs — yet 86 percent of financial advisors are men with an average age of older than 50 years, and scads of studies find that women are treated not-as-well as men when they seek out financial services.
Also: there is a critical wealth gap.
Facts on women and investing:
- A Fidelity Investments study of 8 million accounts that found that women's investments earn on average 0.4 percent more than men's, in part because we are less likely to make expensive, frequent trades and invest in less risky portfolios, like target-date funds, which are designed to grow less risky as it nears your retirement date.
- Women tend to take time off work to have babies and care for loved ones. As such, they tend to experience peak pay earlier in their career than men. Due to the gender pay gap, a woman will have $320,000 less in savings by age 67 than a man of the same age, according to one report.
- Women live 6.7 years longer on average (and therefore need our money to last longer than for men).
- Women tend to be less aggressive about asking for raises, promotions and other career events. Case in point: In one study of students graduating with master's degrees from Carnegie Mellon, the men's starting salaries were more than $4,000 higher than the women's, on average. Only 7 percent of women asked for more money than the initial offer, while 57 percent of men did — 8 times more often.
Their site says: “We shoot to get you to your goals in 70% of markets, while others shoot for 50% … In practical terms, that means that our Ellevest plans are more likely to recommend that you save more as compared to other advisors that aim for achievement at only a 50% likelihood.”
0.25% annual fee of assets under management. That means $25 per year if you invest $10,000.
No minimum. $0.
- Ellevest Tax Minimization Methodology (fancy way of saying tax harvesting, which is a fancy way of saying saving on taxes)
- Unlimited support from the Ellevest Concierge Team via text, phone, and email — for help navigating your accounts and goals.
New: Ellevest Premium
0.50% annual fee of assets under management.
$50,000 minimum, which would mean a $250 annual fee if you invest $50,000.
- All of the benefits of Ellevest Digital, plus …
- 1:1 Executive coaching with the Ellevest Career Team, for issues ranging from salary negotiations to career transitions
- 1:1 Personalized guidance for your money goals with their certified financial planners
- Really easy to use interface
- Low fees
- Easy access to support
- Activist business, pro-woman, changing the world and promoting feminism.
- Customizable, low-fee portfolios. Ellevest's portfolios are all ETFs, or exchange-traded funds, which are extremely low-cost. There is lots of options that fit with your age, goals, risk tolerance and other factors.
- Direct deposit.
- Jibes with Mint.com and other apps.
- Backed by registered Folio Investing, a pioneer in ETF funds, a registration that protects your investments up to $500,000 in the event of broker failure.
- Bonus: Website and app are really, really beautiful and will appeal to your feminine sensibilities.
More about investing for women:
Betterment is one of the biggest and most established robo-advisors, and after opening my own account, and doing deep research, I understand why.
Benefits of Betterment:
- Betterment is one of the most established and biggest robo-advisors, with $10 billion assets under management.
- No account minimum.
- Very low fees — .25% of assets under management for its basic plan, compared with the 1-2%+ average charged by traditional advisors.
- $0 annual fee.
- Ridiculously easy to use.
- Set up in less than 5 minutes.
- Consult with a human financial advisor via the app.
- Betterment has an app!
- Free investment checkup — not required to be a client.
- Phone support for its Premium clients ($100,000 balance minimum)
I tried out Betterment, and here is how to set up your Betterment Account:
1. Go to Betterment.com. I get that they are marketing to older couples here, but young single women are served, too!
2. If you'd like your free investment checkup, go through a few steps to get a snapshot of your financial picture. It took me 3 minutes (I timed it), and was really helpful:
3. If you are ready to open an account, go to this page to get one year managed for free. I opened an account and it took another 4 minutes, including connecting my checking account and funding it. Remember, it is free to open an account, and there is $0 minimum. So, if you'd like to play around and see if you like it, there is no obligation:
4. In this process, you set the type of investment (retirement, emergency fund, big purchase, etc.), your income, tax bracket, and connect any other investment accounts you have so Betterment can help you create an investment strategy. If you don't know the answer to some of these questions, no big deal. Keep going.
5. Once you get settled in, you can turn on some cool features, including tax loss harvesting (explained below), and ‘Smart Deposit' — which automatically invests extra money in your checking account. If you are like me, any extra cash sitting around is likely to be blown on clothes and restaurants. With Smart Deposit, you set a maximum sum you like to maintain in your bank account, and Betterment automatically withdraws and invests anything over that. It will save you from yourself!
Wealthfront is one of the big players within the robo-advisor scene, right along with competitors like Ellevest, Betterment, and Personal Capital.
I personally like the way Wealthfront is set up due to its affordable fees, easy-to-use interface, and holistic approach to investing and wealth-building.
To understand the problem Wealthfront is trying to solve, it helps to know where they got started.
According to the company’s website, the idea for Wealthfront was born out of the financial crisis of 2008.
One of its founders realized high net worth individuals were paying high fees without getting the personalized service they deserved, so they created Wealthfront as an alternative to working with traditional financial advisors.
Since then, Wealthfront has grown astronomically, and the company now manages over $10 billion in assets.
Some of the main benefits of Wealthfront include:
- You don’t need a ton of money to get started. Wealthfront lets you open an account with a minimum investment of $500. This is a huge deal if you’re just getting started investing and don’t have a lot of money to save yet.
- You can use Wealthfront to fund a traditional IRA, Roth IRA, SEP IRA, or a traditional investment account. You can also roll over an old 401(k) to Wealthfront or use the service to manage a 529 account. In other words, you have the option to open a Wealthfront account to supplement retirement funds you already have or start building from scratch.
- Wealthfront uses exchange-traded funds, or ETFs. ETFs are marketable securities that track an index or basket of assets. They work similarly to index funds, and tend to come with extremely low fees.
- Wealthfront uses a formula to automate your investments. Instead of having a human financial advisor listen to your story and pull an investment plan out of a hat, Wealthfront uses computers and complex algorithms to create a solid investing plan based on your tolerance for risk and timeline.
- Your funds are automatically rebalanced for you. One benefit of using Wealthfront is that your investments are automatically rebalanced on your behalf. So, if the program helps you determine you need to invest in 75% stocks and 25% bonds, your investments will automatically be moved back to those levels periodically without any work on your part.
- Wealthfront uses a savings model called Path to help you reach financial goals. Path is a tool built into the Wealthfront Platform that helps you determine whether your current investing strategy is going to work. By answering a string of questions about your current finances and future goals, you can find out about the lifestyle you may be able to live in retirement. If you’re not on track to secure the future you want, Path suggests tweaks you can make today that can help you change that.
- You get automatic tax-loss harvesting. Wealthfront offers tax-loss harvesting for all accounts and stock-level tax loss harvesting for accounts with $100,000 or more on deposit. This service sells off investments that have taken a loss in order to reduce your taxable income.
- Refer your friends. Wealthfront offers a referral program called the Wealthfront Invite Program that lets you receive $5,000 in account management with no fees for each person you refer.
- Pay low fees. Like other robo-advisors, Wealthfront charges lower fees than traditional financial planners. These lower fees mean more money is left in your portfolio over time, making it easier for you to build wealth. We’ll go over the exact fees Wealthfront charges in the next section.
How much does Wealthfront cost?
By this point, you hopefully understand that Wealthfront will manage your investment or retirement accounts on your behalf and take care of most of the grunt work for you.
They’ll help you figure out how much you need to save now to reach your goals, and they’ll even help you maintain your ideal asset allocation over time.
Best of all, they use computers and real data to decide which investments you should bet on versus financial advisors who may prefer to sell investments that pay them big, fat commissions.
Of course, this expertise costs money. Wealthfront fees are less than the typical 1% you would pay a financial advisor, but it’s still important to understand how the fee structure works.
Overall, Wealthfront charges an annual advisory fee of .25% for their services, although this amount is spread out and deducted monthly from your account.
In addition, you’ll also pay the “expense ratio embedded in the ETFs and mutual funds you will own.” They also earn one expense ratio for themselves — the 0.25% they charge for the Wealthfront Risk Parity Mutual Fund among customers who purchase this fund.
On the flip side, Wealthfront doesn’t charge hidden fees such as fees for opening an account, fees for closing your account, trade fees, commissions, or account transfer fees.
Wealthfront offers an example of how fees can look on their website:
“An account with an average monthly balance of $100K will have a monthly advisory fee of $20.55. Assuming 30 days in the month and 365 days in the year, the math is as follows: $100,000 * 0.0025 * (30/365) = $20.55” per year.
Since a typical financial advisor who charges 1% of your portfolio would take $1,000 per year ($83.33 per month) regardless of how they performed, this is typically considered a good deal. I’d say it’s a great deal.
How to Get Started
While it might take you a while to compare robo-advisors and decide you’re ready to get started, the process required to open an account with Wealthfront is a piece of cake.
It all starts with their questionnaire, which you can access from the Wealthfront homepage.
Here are your next steps:
Step 1: Go to the homepage and click on “invest now” or “open an account.” From there, the platform will ask you a wide range of questions meant to help guide them as they build your portfolio from scratch. In addition to your age, questions you’ll need to answer will cover your appetite for risk, your investing goals, and your income.
Step 2: Receive a detailed analysis from Wealthfront. Once you answer the questions posed during the questionnaire, you’ll receive a landing page with your ideal asset allocation. When I entered in my information (age 38, two kids, income information, etc.), they suggested I open a taxable investment account with 35% U.S. stocks, 26% foreign stocks, 17% emerging markets, 8% dividend stocks, and 14% municipal bonds. They also gave me a “risk score “of 8.5 out of 10, which reflect my general willingness to ride the ups and downs of the market without panicking.
Step 3: Open your account. If you like the risk score they’ve assigned you and believe in the investing plan they’re suggesting, you can take the next steps to open your account. Remember that the account minimum is only $500, so that’s not a huge hill to climb. Click “get started” to move on to the next level.
Step 4: Answer more questions. Once you take steps to open your account, you’ll need to answer quite a few more questions so Wealthfront can create the best investing plan for your needs. For example, you’ll offer up tax information (do you file as head of household?), your annual pre-tax income again, and information on the types of investment accounts you already have.
Step 5: Transfer money. After the second set of questions are answered, Wealthfront will present you with a selection of accounts they think you should open based on your income, age, and other factors. For example, they might suggest you open a Roth IRA to supplement your work-sponsored 401(k) along with a 529 account for your kids. To fund your accounts, you can set up an ACH transfer from your bank account. You can also use a check if you’re funding a 529 account.
Step 6: Let Wealthfront do the hard work for you. Once your account is up and running, you can set up regular contributions so you can continue growing wealth. You’ll also have the option to play around some more with the Path tool. You can even connect other bank accounts to your Wealthfront account to find out about little tweaks you could make to reach your goals faster.
Have you ever wondered if you could secure greater returns with your employer-sponsored retirement account? Not sure where to go for help? Afraid professional assistance will be expensive — or shady? Feel stupid for not knowing a lot about investing?
Take a look at Blooom — a robo-advisor that focuses solely on work-sponsored retirement accounts like 401(k)s, 403(b)s, 401(a)s, 457s, and thrift savings plans.
Blooom manages these plans with a simple and straightforward strategy.
Once you agree to let Blooom oversee your 401(k) or another retirement plan, you’ll pay a flat fee of only $10 per month.
There are no account minimums either, meaning anyone can use this service.
Like other robo-advisors, blooom uses a combination of technology and human help to assess your retirement accounts and help them perform better.
While it’s easy to set your work-sponsored retirement account on cruise control and rely on hope to reach your retirement goals, Blooom can suggest savvy 401(k) moves that could help you retire sooner — or with more money.
Why sign up for Blooom?
One of the most intriguing aspects of this company is the fact it focuses solely on work-sponsored retirement plans.
This strategy will inevitably alienate some investors who have taxable accounts and IRAs and would need an outside advisor to manage them as a result.
But Blooom appears to have a single goal in mind — helping people manage their work-sponsored retirement accounts.
They’re not trying to be everything to every investor; they are focused on an underserved niche — everyday people who focus on saving their retirement funds via workplace accounts.
Blooom is for people who are unsure if they have selected the right accounts to invest in within their 401(k).
When you set up an account with Blooom and put them to work on your 401(k), you get the advantage of having a professional assess your account to see exactly what you’re invested in and whether it makes sense for your retirement horizon and goals.
Blooom also offers a free analysis you can use to see “where you’re at.”
If you let Blooom manage your 401(k) for $10 per month, you don’t have to get your employer or human resources department involved in the decision, either.
Blooom will take a holistic look at your 401(k) to find problem areas and make fixes on your behalf.
In the end, this could mean paying fewer fees and scoring higher returns.
What does Blooom do, exactly?
But, how will they fix and manage your 401(k) account?
At the end of the day, that really depends on the type of management your 401(k) account needs and the funds you’re invested in already.
The steps Blooom could take on your behalf include:
Reduces hidden fees
According to Blooom, the company saved their clients $600 million in hidden fees as of this writing. Fees they may help you reduce or eliminate include:
- Hidden investment management fees: Blooom will move you to the lowest cost funds available in your 401(k) while also ensuring you stay within your recommended allocation.
- Managed account services: Many 401(k) plans charge a percentage to manage your account, and this amount grows right along with your account balance. Blooom looks for ways to eliminate these fees so you can keep more of your returns for yourself.
- Help you choose better options: Blooom notes that Target Date Funds often charge higher fees that comparable investment options. Worse, they are often owned by the financial institution offering them to you, which is a huge conflict of interest. Blooom will check to see where your money is invested and find better options with lower fees.
Suspicious Activity Alerts
Blooom also helps to keep your 401(k) secure.
They monitor your account for large withdrawals and other suspicious activity, and they notify you any time something questionable takes place. This is especially handy if you're going through a divorce or separation.
You can even sign up for notifications via text message.
Also, keep in mind that Blooom itself is incredibly safe to use.
The app offers 256-Bit encryption, bank-level security, 24/7 hacker virus scans, third party verification, and plenty of other features to keep your data secure.
If you believe your 401(k) funds are automatically rebalancing themselves, you’re probably wrong.
In reality, you should be rebalancing every so often (six months to a year).
Blooom does the hard work for you, automatically rebalancing your 401(k) investments to ensure the best mix of stocks and bonds for your goals.
Blooom notes that many employer-sponsored 401(k) plans assign everyone the same appetite for risk and allocation without ever considering the individual.
They also look at your unique situation to assess your risk, then consistently rebalances your portfolio for you to keep you on track.
Blooom operates on the very correct premise that nobody can beat the market consistently over time. As a result, they focus on taking over your 401(k) and keeping you in long-term investments that will pay off regardless of the ups and downs.
By leaning on Blooom for professional market guidance and asset allocation, you can keep yourself from making hasty decisions with your money.
Help from real, human financial advisors
Blooom also makes it possible for their clients to speak with financial advisors on any number of important financial issues.
Blooom clients can get ahold of real-life financial advisors via email or live chat, then ask them questions about their 401(k)s or other retirement goals.
Keep in mind that Blooom is a fiduciary, meaning they are legally obligated to give you sound, helpful financial advice instead of trying to sell you on a solution.
You pay Blooom a flat fee every month, but they don’t make money on investing options they choose on your behalf.
Benefits of using Blooom
If you know your 401(k) needs help but you aren’t sure where to turn, Blooom can keep an eagle eye on your account for just $10 per month.
The benefits of this approach include:
- Low account management fees on big balances: Since Blooom charges only $10 per month regardless of how much you have in your account, you can score incredibly low account management fees if you have a big balance in your retirement account. If you have $100,000 saved, for example, the fee as a percentage of your assets each year works out to .12%.
- Blooom charges your fees to a credit or debit card: Blooom doesn’t take their $10 monthly fee out of your retirement account. Instead, they charge it to a debit or credit card every month. Ultimately, this leaves more money in your 401(k) working for you.
- Get help without asking your employer. Your employer does not need to be notified or involved if you hire Blooom to oversee your 401(k) account.
- Save money and score higher returns. Since Blooom will help you eliminate unnecessary fees in your 401(k) account, it can easily pay for itself.
- No account minimum. You can start using Blooom right away, and that’s true even if your 401(k) balance is very small. Starting early can actually be very beneficial since Blooom can make sure your asset allocation and fees are on point from the beginning.
Why shouldn’t you use Blooom?
While Blooom’s account management services could be life-changing for a certain type of retirement saver, it’s certainly not for everyone.
There are several reasons you might want to consider another robo-advisor or real-life financial planner instead.
Those reasons include:
- High account management fees on small accounts: If you have a boatload of cash in your 401(k) account, paying $10 per month is a steal. But, if your account is still very small, $10 per month can make up a much larger percentage of your portfolio.
- They don’t support every type of account: Blooom makes no secret of the fact they focus on retirement accounts offered through employers. However, this detail means they may not work for everyone. If you have an IRA or taxable investment accounts in addition to a 401(k), you may need to seek out a different robo-advisor for comprehensive help.
- They assume your goal is retirement: Blooom’s goal is helping people reach retirement by their ideal retirement age. However, they aren’t really set up to help people plan out additional financial goals like paying for a wedding or college. If you need help planning out your financial life in its entirety, you may want to sit down with a real-life financial planner instead.
The bottom line
Blooom’s innovative ideas could very well change the way the average investor thinks of their 401(k).
Instead of “setting it and forgetting it,” people who use Blooom will realize that they do have some power when it comes to growing their retirement funds over time.
The fact that Blooom charges only $10 per month also makes it a realistic option for people with nearly any 401(k) balance.
After all, $10 per month is the cost of a fast food meal these days. Surely someone can give up one meal per month to have better results in retirement, right?
Still, Blooom will work best for people who save for retirement through their employer and not on their own.
The app’s focus on employer-sponsored retirement accounts makes it limited but also helps the company focus on one, singular goal.
In the end, it seems like that’s what Blooom wanted all along.
Emma Johnson is a veteran money journalist, noted blogger, bestselling author and an host of the award-winning podcast, Like a Mother with Emma Johnson. A former Associated Press Financial Wire reporter and MSN Money columnist, Emma has written for the New York Times, Wall Street Journal, Forbes, Glamour, Oprah.com, U.S. News, Parenting, USA Today and others. Her #1 bestseller, The Kickass Single Mom (Penguin), was named to the New York Post's ‘Must Read” list.
Emma regularly comments on issues of modern families, gender equality, divorce, sex and motherhood for outlets like CNN, Headline News, New York Times, Wall Street Journal, Fox & Friends, CNBC, NPR, TIME, MONEY, O, The Oprah Magazine and The Doctors. She was named Parents magazine’s “Best of the Web,” “Top 15 Personal Finance Podcasts” by U.S. News, and a “Most Eligible New Yorker” by New York Observer.