Betterment

๐Ÿ‘ 95%

Share your experiences with Betterment

Tell us what you like and dislike about Betterment. Help others make more informed decisions based on your insights.
D

Diana C ๐Ÿ‘

Pros

Betterment tailors investments according to your management and risk levels.

Cons

Investment recommendations could be detailed for further explanation.
V

Vincent C ๐Ÿ‘

Pros

The user interface is very intuitive and the customer service is very responsive.

Cons

I think that the ability to buy individual stocks would be nice.
A

Aleksander B ๐Ÿ‘

Pros

Itโ€™s so easy to use from adding funds directly from a major US bank to managing risk/exposure profiles all of which is seamless. They regularly balance your portfolios to minimize taxes with their โ€œTax loss harvesting featureโ€. Really enjoy their seamless hands-off approach to brokerage. Their fees are fair for the ease of service and tend to be a lot less than human based money management.

Cons

More transparency and options of ETF portfolios would be much appreciated. Being able to customize what classes of ETFs you invest in, e.g. ones that invest in sustainable companies. More analytics and information about their โ€˜robo investmentsโ€™ would be nice.
C

Cameron D ๐Ÿ‘

Pros

They make investing very easy; I love having the ability to automate investing so I don't have to worry about it. The ability to make multiple goals with different stock to bond allocations is also very useful.

Cons

Nothing I can think of, I've researched most of the major robo advisors but always come back to Betterment.
S

Sanjeet S ๐Ÿ‘

Pros

Super easy to start investing; low investment minimums. I started two accounts which were the Roth IRA and a safety net account. Once I closed the safety net, it was easy to transfer money to the Roth IRA. The investment options are good and it is super clear what you are investing in.

Cons

Rollover process. I spent at least 3 weeks working to roll over my Roth IRA to Fidelity. It took me 1 week to roll over my 401k to Fidelity for comparison.
M

Max P ๐Ÿ‘

Pros

Easy set and forget options, quick deposits, and good mobile app.

Cons

Wish I could fine tune asset allocations with more asset classes.
N

Nathaniel C ๐Ÿ‘

Pros

Betterment's user interface makes it kind of fun to set investment goals and track progress over time. Since I started using Betterment they've continued to add features and make improvements, which gives me confidence in the platform. On the roboadvising side of things, they have a variety of strategies that you can choose from and they try to educate you on the pros and cons of each strategy. Overall I've been pleased with the service that Betterment provides.

Cons

Betterment has relatively low fees but honestly I wish they were even lower. Any fee is a drag on returns. It would be nice if the fee percentage was lower for investors that have a relatively small amount of money.
A

Alvaro C ๐Ÿ‘

Pros

Easy yet elegant GUI, tax-loss harvesting, goal-oriented funds/allocations, and perhaps more importantly, their abidance of fiduciary rules.

Cons

Third party integration with crypto services; and they shouldn't consider crypto assets as cash for purposes of evaluating my overall portfolio risk.
V

Victoria C ๐Ÿ‘

Pros

It is very well-designed and has a clear, beautiful interface.

Cons

They donโ€™t seem to allocate based on risk preference like Wealthfront does.
Itโ€™s very difficult to customize your goals - I wish there was a better way to adjust where my assets were going.
D

Dan M ๐Ÿ‘

Pros

Easy to use interface means I feel comfortable with my money in the platform as the market fluctuates.
Investing in ETFs makes me feel like my money is working hard and smart.
Their plans are purpose-built common savings ideas (big purchase, retirement, long term savings, safety net).
I love the goal-oriented savings plans to help me think โ€œbig pictureโ€ with my money.

Cons

Adjusting a goal mid-stream has some tweak-able settings. But if you want to re-allocate the portfolio, you may end up having to transfer the assets to a new plan.

Important Info:

Fees
0.25%
Fund Costs
0.07 - 0.15%
Minimum Deposit
$0

Betterment

๐Ÿ‡บ๐Ÿ‡ธ
Betterment's NYC-based team manages $13.5 billion in assets. Based on Finimize's research, Betterment takes on an average amount of risk compared to other US robo advisors.

Finimizeโ€™s Commitment:

Finimize is committed to empowering our users to make more informed financial decisions. We care deeply about the quality of reviews and all reviews undergo a thorough review process (read our guidelines here). No company can delete or otherwise censor reviews.