Betterment Review

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Betterment Customer Reviews

by Matthew, 5/16/2018



I've been using Betterment for about three years and I've never had an issue with the company, website, or mobile app. I've put money in, taken money out, collected dividends, rolled over into IRAs, etc. In everything I've done with Betterment it's been utter simplicity. Deposits are made on schedule, with advance notice that a withdrawal is pending. When dividends are paid out, I also get a notification. All of my interactions, except during advice type phone calls I initiated, have been via the internet, with all payments being ACH style back to the original bank account. Not paperwork needed.

by Pat, 7/17/2017

Pros: Easy to put money in

Cons: Impossible to transfer money out

I opened a Roth IRA with Betterment to try out the product. It was fairly seamless to sign up and deposit my 2017 year contribution. Then I ended up deciding to go with Schwab instead (more investment options and lower fees). The problem became getting the money OUT of Betterment.

Betterment only offers PAPER transfers-- that's right, you need to print out a sheet of paper, fill it out, and mail it to Betterment. They also don't accept amendments, so if anything is incorrect or not perfectly legible (as is often the case when dealing with multiple account numbers written out by hand) you need to redo the entire process.

For me, I had a typo on my form. The transfer had the wrong account number, even though it was an obvious mistake. They are now requiring me to fill out the entire form again. This is very uncommon with financial institutions, especially one that sells itself as the "tech forward" solution. It will now be over 2 months and multiple hours from starting this process until I am able to complete this transfer.

They are entirely unapologetic and have said they aren't looking into making transfers more flexible.

by Troy, 10/10/2015

Pros: Great platfrom

Cons: High fees

They may be more on the expensive side, but they are worth the money. The platform is easy and nice to use.

by Matt, 8/10/2013



Definitely looks like a suitable way to invest for those who don’t want to dedicate the time to learning about direct investing. The slightly higher fees make sense if the alternative was to not invest at all due to not having the knowledge.

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Betterment Account

Automatic deposit of at least $100 per month is required for the Builder plan. (The frequency can be weekly, bi-weekly, or monthly.) Customers with a balance less than $10,000 and without automatic deposit will automatically be upgraded to the Better plan, and will pay $3 per month in lieu of the percentage management fee. A $100,000 deposit is required to be considered for the Best Betterment plan and its privileges.

If a deposit or withdrawal changes your plan eligibility, Betterment will update your plan automatically. Fees will be prorated.

Leading U.S. Brokerage Review Websites About Betterment

"Betterment is a perfect starting point for young investors. It helps teaches the ropes to investing and more importantly, proper asset allocation. For the more advanced investor or higher net worth individual, Betterment might not be the perfect fit. If you can roll your own asset allocation and know investment theory, there’s little need for using a service like Betterment. The more advanced investor will do better with a more diverse asset allocation selection and save money in annual fees in the process."

Investor Junkie

"Although the costs associated with investing with Betterment are very straight forward, it’s important to remember that there is a cost associated with automation. The automation Betterment provides helps to increase your investment dollars as fast as possible but, the increases do come at a cost. It’s important to decide if the added cost of automation is worth it for you."

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