Best & Worst Performing Robo-Advisors in Q1

Condor Capital Wealth Management's latest Robo Report examines the first-quarter performance of the 37 accounts it tracks at 25 providers. The report also records several notable changes in the robo-advice industry. In April, Goldman Sachs reached a deal to sell the investment accounts of Marcus to Betterment, with completion expected in June. According to the report, Marcus aimed at a demographic significantly broader than Goldman Sachs' traditional clientele, but failed to meet expectations. The report also mentions Betterment's revamped premium plan, which includes new benefits, such as access to preferred rates on Betterment's Cash Reserve and a 20% discount on estate planning services. Premium customers will also be subject to an annual management fee of 0.65%, well up from the previous fee of 0.4%. Condor said both Betterment's increased fee and the shuttering of robo offerings at Goldman Sachs and JPMorgan Chase are emblematic of the difficulty of offering advisory services at rock-bottom price while earning meaningful profits for the provider. See the gallery for the robo advisors that recorded the best and worst performances in the first quarter, according to the Robo Report.