Betterment, the largest automated investing service, today announced account aggregation for all customers.
Customers can now securely sync their outside financial accounts—such as 401(k)s, IRAs, taxable accounts, mortgages, and loans held at other institutions—with their Betterment account. This will allow customers to see their total net worth in one place, and it will help Betterment give better, more holistic personalized advice.
When customers sync their accounts, Betterment can help identify where they may be holding idle cash that could be turned into investment growth opportunities, identify where customers might be losing money to high fees, and then help customers take action on the advice.
"At Betterment, we aim to be the central relationship of your financial life," said Jon Stein, Founder and CEO of Betterment. "Seeing all of your wealth in one place is a step in that direction. By looking at all of your assets, we're able to provide even better advice for investing for some of the most important things in life, like retirement."
In the past year, Betterment has grown from managing just more than $1 billion to now managing more than $3.7 billion in assets. Betterment also recently released RetireGuide™, an advice engine that helps to inform customers as to whether or not they are invested correctly for a comfortable retirement.
Betterment offers its customers a globally diversified portfolio of index-tracking exchange-traded funds (ETFs) with personalized allocation 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 helps people pursue happiness efficiently by providing smarter technology and personalized advice on their entire wealth picture, so they invest better as they manage, protect, and grow their wealth.