Betterment Becomes the First Independent Online Financial Advisor to Exceed $10B in Assets Under Management

NEW YORK, July 31, 2017 /PRNewswire/ -- Betterment announced today that it is the first independent online financial advisor to reach $10 billion in assets under management. The company now manages investments for more than 270,000 customers, helping investors to make the most of their money through the use of technology. Since the beginning of 2016, the company has added nearly $7 billion in assets under management. Betterment has also added more than 150,000 customers over the same time period.

"From the time we launched in May 2010, we've experienced incredible year-over-year growth," said Jon Stein, Founder and CEO of Betterment. "I remember how exciting it was when we reached $10 million in assets under management, which took us a little over a year after our launch to reach. We now typically attract more than that in a single day. We are seeing new customers start with substantially higher balances and tremendous growth with our existing clients."

Betterment's priority has been to continuously expand customization and personalization of its products to meet the needs of all customers. In recent months, the company has added a series of new products to its platform to meet this goal, including access to licensed financial experts on the phone and through in-app messaging, advanced tax-efficiency tools, portfolio personalization, and an array of other new features. This string of product launches has contributed immensely to the increased growth rate, and it will continue to be the company's primary focus.

Betterment offers a globally diversified portfolio of index-tracking exchange-traded funds (ETFs) with personalized advice in a goal-based investing framework. Customers can open and customize regular investment accounts, traditional/SEP/Roth IRAs, trust accounts, and accounts for retirement income. Betterment also has expanded its platform to serve advisors and 401(k) markets. For more information, please visit Betterment.com.

Contact Info:

Joe Ziemer, [email protected], 212-228-1328

Arielle Sobel, [email protected], 646-836-9246

Danielle Shechtman, [email protected], 212-228-1328

Betterment is the largest independent online financial advisor with $10 billion in assets under management. The service is designed to help increase customers' long-term returns and lower taxes for retirement planning, building wealth, and other financial goals. Betterment takes advanced investment strategies and uses technology to deliver them to more than 270,000 customers across its three business lines: direct-to-consumer, Betterment for Advisors, and Betterment for Business. Learn more.

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Determination of largest independent online financial advisor reflects Betterment LLC's distinction of having highest number of assets under management, based on Betterment's review of assets self-reported in the SEC's Form ADV, across Betterment's survey of independent online financial advisor investing services as of July 31, 2017. As used here, "independent" means that an online financial advisor has no affiliation with the financial products it recommends to its clients. If you also have a 401(k) account through Betterment For Business, that account is subject to a separate fee schedule and is not included in your balance for determining eligibility for the fee tiers or subject to the fee cap mentioned above.

SOURCE Betterment

Related Links

http://www.betterment.com