Betterment for Advisors Adds Mutual Funds to Custom Portfolios

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Mar 21, 2024, 09:00 ET

RIA Custodian Increases Advisor Personalization with Thousands of Mutual Fund Options

NEW YORK, March 21, 2024 /PRNewswire/ -- Betterment, the largest independent digital financial advisor, today announced that Betterment for Advisors, its RIA custody division, is adding thousands of mutual funds to its custom portfolio construction menu for the first time.

This launch coincides with the 100th anniversary of the mutual fund and provides advisors more control in meeting growing client demand for personalization in portfolio construction.

"Betterment for Advisors is laser-focused on delivering a holistic platform that includes flexible portfolio options for RIAs across retirement and wealth," said Tom Moore, head of Betterment for Advisors. "Adding mutual funds has long been advisors' top request, and we are thrilled to be able to offer this capability."

Roughly $20 trillion in assets are held in mutual funds in the United States today, according to Federal Reserve Statistics. Offering advisors a custodial platform that can manage those funds for clients is essential.

"I have enjoyed the ease of use and powerful capabilities of Betterment for Advisors since I started working with them, but I appreciate even more that the team continues to enhance the offerings and improve the advisor experience. I love that the addition of mutual funds into their custom portfolios solution allows me to use the full suite of features with even more of my clients." said Derek Tharp, Founder of Conscious Capital. (Non-paid client of Betterment.)

With this update financial advisors can now combine mutual funds and ETFs in their custom models on the Betterment for Advisors platform. Options include funds from such firms as Vanguard, PIMCO, T. Rowe Price, and Fidelity with many more to be added in the coming weeks.

This announcement is the first of many additions to the Betterment for Advisors platform in 2024 and comes on the heels of several updates in 2023 including an integrated suite of tax efficient tools that provide financial advisors with granular control over how client assets are managed, transferred, and sold, as well as updated digital client onboarding capabilities.

About Betterment for Advisors:
Betterment for Advisors is a future forward RIA custodian for planning-focused advisors and their growing firms. By combining our technology with an advisor's personal touch, we are reimagining what's possible in wealth management. Our automated, tax-efficient portfolio management, paperless back office, and intuitive user experience enables advisors to efficiently scale their businesses and focus their time on building deeper customer relationships. Hundreds of firms trust Betterment for Advisors to custody and manage client assets. For more information visit www.betterment.com/advisors.

Contact: [email protected]

SOURCE Betterment