Best robo-advisors in Sweden in 2024 🇸🇪 (compared)

Toni Nasr, CFA, FRM

Robo-advisors have become popular in Sweden as a convenient and cost-effective investment solution. These automated platforms use advanced algorithms and user-friendly interfaces to empower investors to manage their portfolios and achieve 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 compiled a list of the top Robo-advisors in Sweden for 2024. We considered key factors like fees, investment options, customer service, and user experience when making our picks.

Here’s a quick list of the top Robo-advisors in Sweden:

  1. Lysa: Best Overall
  2. Opti: Best for low fees
  3. Avanza: Best for free investing up to SEK 50,000
  4. eToro: Best for smart portfolios
  5. Nora: Best for banking and Robo-advisory

Best Robo-advisors in Sweden

If you're an investor living in Sweden, 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 Sweden, we've checked different platforms and evaluated those main characteristics, and here are the results of our deep dive research.

#1 Lysa

💲Fees: Between 0.15% and 0.24% per year

💵 Minimum balance: SEK 1,000

💰 Number of strategies: 2


Founded in 2015, Lysa is a Robo-advisor offering a cutting-edge savings service that automates your investments with low fees. They serve more than 125,000 users with over SEK 25 billion of assets under management. Lysa operates under the supervision of the Financial Supervisory Authority, ensuring compliance with high standards to protect customers' money.

Lysa's investment approach centers around personalized fund portfolios that include carefully selected index funds, adjusted risk levels, and minimal fees. Whether you're planning for retirement, your child's future, a new home, or building a financial safety net, Lysa tailors accounts to match your specific objectives. Currently, Lysa offers two distinct investment focuses: Broad and Sustainable. Lysa Broad aims for extensive global investment, maximizing risk diversification across thousands of companies. On the other hand, Lysa Sustainable emphasizes sustainability, excluding certain industries and prioritizing efforts to reduce carbon dioxide emissions.

Starting your savings journey with Lysa is easy. You just answer a few questions about your financial goals, and Lysa will create a personalized investment proposal. Then, after funding your account with a minimum of SEK 1,000, your portfolio will be automatically aligned with its target distribution, ensuring a smooth and seamless experience. Their user-friendly app also adds convenience, allowing you to open an account seamlessly and monitor your investments.

Lysa's commitment to transparency is evident in its fee structure. There are no hidden fees, and detailed information on transaction costs and fund fees is readily available on their website. The management fee, starting at 0.24% per year, decreases as your investment amount increases, reaching as low as 0.15%.

Lysa Homepage

#2 Opti

💲Fees: Between 0.25% and 0.50% per year

💵 Minimum balance: SEK 200

💰 Number of strategies: 1

Founded in 2014, Opti is a Swedish Robo-advisor that offers automatically managed portfolios through a user-friendly mobile app. They provide personalized, transparent portfolios, ensuring optimized returns and low fees for regular and premium Swedish investors.

Your funds are invested in a mix of assets within an investment savings account (ISK) which includes shares, commodities, and fixed-income securities. They offer one investment strategy with 10 risk profiles, varying from very conservative to very aggressive. Opti's commitment to sustainability is evident in its investment approach, where the majority of funds in its portfolios promote environmental causes or prioritize sustainability. Moreover, you can easily customize the level of sustainability in your savings, reflecting Opti's dedication to creating positive impacts.

Getting started with Opti is simple. A quick app-based questionnaire analyzes your finances and risk tolerance, proposing a personalized portfolio. Then, after funding your account with a minimum of SEK 200, the platform assists in initiating and optimizing your portfolio through regular rebalancing, fund suggestions, and annual follow-ups.

Opti’s annual fee is 0.50%, which is charged on a monthly basis in addition to the fund management fee charged by the service provider. Opti also offers a premium service for investors with over 1 million kroner, where you can benefit from access to a dedicated financial advisor with personalized assistance, and exclusive discounts. Additionally, your costs are further optimized as the annual fee decreases to as low as 0.25%.

Opti Homepage

#3 Avanza

💲Fees: Free up to SEK 50,000, then 0.20% per year

💵 Minimum balance: SEK 100

💰 Number of strategies: 6

Avanza Bank is a Swedish online bank based in Stockholm, specializing in savings, investments, and pensions, with a customer base exceeding 1.8 million users. Avanza boasts an array of financial offerings, including a diverse range of Swedish and international stocks and funds. The platform stands out for its low fees, where several services do not incur any charges. While Avanza Bank doesn't provide Robo-advisory services involving portfolio or fund recommendations, it introduces Avanza Auto, an innovative product featuring six distinct special funds for automated investing.

Avanza Auto operates similarly to a Robo-advisor. An experienced management team carefully evaluates all underlying funds and other securities every month. However, the only distinction is that they do not recommend a portfolio for you. So, you will have to choose among six special funds that encompass various asset classes, including stocks, bonds, and commodities. Avaza Auto caters to diverse risk preferences, from Auto 1, emphasizing fixed income funds for risk balancing, to Auto 6, focusing on equity funds for potentially higher returns.

One compelling feature of Avanza Auto is its management fees, which are attractively low, standing at 0.20% per year. Moreover, they automatically refund all management fees for users with savings below SEK 50,000, making Avanza Auto an affordable choice for users seeking cost-effective wealth management solutions.

Avanza Auto Homepage

#4 eToro

💲Fees: No Management Fees (other fees apply)

💵 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:

  1. Choose a theme: Select a market theme or trend that aligns with your investment beliefs and vision.
  2. Select a Smart Portfolio: Explore the range of Smart Portfolios available and select the one that suits your investment goals and preferences.
  3. Start investing: Most Smart Portfolios require a minimum investment of $500.
eToro Smart Portfolios

Want to know more about eToro Smart Portfolios and its pros and cons? Check it out in our in-depth review, and visit eToro’s page directly.

#5 Nora

💲Fees: Between 0.64% and 1.59% per year 

💵 Minimum balance: SEK 100

💰 Number of strategies: 1

Nora is the Robo-advisor of Nordea, a leading Nordic region bank. It facilitates the automatic investment in funds through a seamless and efficient platform. You can start investing with an amount as low as SEK 100.

You begin by answering a brief questionnaire covering your financial status, risk tolerance, and investment horizon. In under 10 minutes, Nora provides personalized recommendations, suggesting a portfolio of four funds with varying risk levels to align with your unique needs and aspirations. The platform offers flexibility in depositing and withdrawing funds. You can automatically deposit funds into an Investment Savings Account (ISK), while child savings are facilitated through an endowment insurance for added ease. Moreover, if you prefer to choose the funds yourself, you can choose the Fondväljaren where you can put together your own fund portfolio with the guidance of Nora.

Nora's fund portfolios are designed to optimize returns while balancing risk, leveraging a combination of shares, commodities, and fixed-income securities. Nora empowers users to choose the level of sustainability they want for their savings, providing an opportunity to contribute positively to environmental causes.

The fees for Nora's regular funds range between 0.64% and 0.90% per year, while sustainable funds have fees varying from 1.45% to 1.59% per year. The exact fee depends on the specific funds and the chosen risk profile.

Nora Homepage

Best Robo-Advisors in Sweden in 2024 (Compared)

Best Robo-Advisors in Sweden in 2024 (Compared)

Final Thoughts

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 Sweden continues to grow, selecting the right one can be challenging.

In this article, we have provided a list of Sweden’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 Sweden 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 Sweden?

The best Robo-advisor in Sweden 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 Swedish investors:

  • Lysa: Best Overall
  • Opti: Best for low fees
  • Avanza: Best for free investing up to SEK 50,000
  • eToro: Best for smart portfolios
  • Nora: Best for banking and Robo-advisory

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 in 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 SEK100).

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.

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