Betterment – Legit Investing Company? [Review 2019]

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Today I’m taking a closer look at the online investment company Betterment and sharing my honest review and opinion.

Before I start…

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Betterment - Legit Investing Company? [Review 2019] 5

Betterment Overview

With around 300,000 clients and more than $11 billion in assets, Betterment has proved to be an absolute leader among fellow robo-advisors. Others I have reviewed lately include Edward Jones and Personal Capital.

Here is what the Betterment website looks like below, as you can see it’s a very nice design:

betterment website

The platform is easy to use, and the service options are equally decent.

But what exactly is a robo-advisor?

Well, these advisors are simple digital platforms that operate with computer algorithms for generating customized advice and managing your existing investment portfolio.

And the best part- their solutions are tailor-made for both experienced and newbie investors. Betterment is one such robo-advisor that has risen to fame with its excellent customer service and useful, practical advice.

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How Does This Platform Work?

Betterment is one of the simplest robo-advisor platforms you’ll ever find.

The interface is simple and you can seamlessly operate it even if you’re a first time user. Unlike many other robo-advisors, this one helps you in walking backward to meet all the steps that are needed for meeting your final investment goal.

Quite recently, the platform even strengthened their approach in helping you meet your goals, by coming up with a new feature.

With this new tweak, you will now be able to link your external investment and savings accounts (retirement) to this platform.

This will help you get a better and tad more consistent picture of your current standing.

Alternatively, you also get know how well you’re working with your post-retirement plans.

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The primary goal of this platform is to maximize your returns while also minimizing your potential risks.

While this might sound next to impossible, it’s far from that in reality.

So how does this platform manage to do this?

Well, the idea is simple. Betterment simply uses the MPT or the Modern Portfolio theory in order to meet its goals.

Since it invests in a wide range of assets, these assets in turn collectively reduces your risk while also stabilizing your returns in the long run.

As of now, the platform comes with two different services-

  • Betterment Digital
  • Betterment Premium

The digital one is a legacy offering that doesn’t come with any minimum account. This plan will cost you .25% of your assets annually. Alternatively, the Betterment Premium will offer unlimited telephonic access to the financial advisors or investment professionals. For this, however, you’re required to maintain a minimum balance of $100,000 and pay a fee of .40%.

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Why Should You Use Betterment?

There are plenty of reasons why you should use Betterment.

We’ve listed few of them below:

Minimum Account balance

Betterment is one of those few robo-advisor platforms that doesn’t need any minimum deposit.

Although this is applicable for the digital offering alone, it still seems to be a pretty decent bet.

Investment

Like other robo-advisors, Betterment’s investment philosophy is based on the modern portfolio theory, underlining the advantages of diversification.

This company works with exchange-traded funds that usually represent around 12 different asset classes.

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However, this too will depend on your individual risk-tolerance and goals.

Also, the portfolios will be automatically rebalanced as and when needed.

Budget Planning Packages

This platform also offers several budget and financial planning packages that are targeted to your particular life events.

Take for instance the $199 package that’ll get you a full college planning program.

With this package, you get to have an hour-long conversation with a financial planner who will further elucidate about the various college planning strategies.

Alternatively, if you’re just starting out with savings you can also choose the getting started package that’ll inform you about the nitty gritties of planning and saving your budget.

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Goal Centric Saving

When you join Betterment, you’ll be required to complete a sign-up process that’ll take you through a goal-setting exercise. As a part of this exercise you will have to enter your age and your current income.

Once you do this, you’ll find a list of financial goals according to the answers you’ve provided.

Interestingly enough, each of these goals estimate a safety net between three to six months, a target for your retirement savings and a goal for your general investments. Every goal will have a suggested target and asset allocation feature that can be tweaked according to your convenience.

In other cases, you may also add other customized goals that’ll offer equally valuable insights on the account types that you can use.

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Betterment Verdict

Overall I am impressed by what Betterment has to offer and I think if you are in the market for this kind of service there is absolutely no reason why you shouldn’t consider Betterment. They are clearly one of the leaders in the space and have a lot of good services to offer.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my recommendation below.

It’s helped me earn over $300k in the last 12 months alone:

Go here to see my no.1 recommendation for making money online

(This is a 100% free training)

Betterment - Legit Investing Company? [Review 2019] 5