TrustRadius Insights
Betterment solves key business problems for HR professionals managing employer-sponsored 401Ks. Users have reported significant time …
Overview
What is Betterment?
Betterment is an investing and savings app that serves one purpose—to help you grow your money. For one low, transparent fee, you can invest your money with automatic deposit and trading features that put your money to work. Earn with…
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What is Betterment?
Betterment is an investing and savings app that serves one purpose—to help you grow your money. For one low, transparent fee, you can invest your money with automatic deposit and trading features that put your money to work. Earn with interest and investment growth—plus maximize your savings…
Entry-level set up fee?
- No setup fee
For the latest information on pricing, visithttp://www.betterman.com
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Product Demos
Student Loan Management - Full Product Demo Video - Betterment
YouTube
Demo video Self Verification & Betterment Not Freeze
YouTube
The Betterment of the World full performance demo
YouTube
Betterment - Student Loan Management - Product Demo
YouTube
Student Loan Management - Demo Video for Plan Sponsors - Betterment
YouTube
Student Loan Management - Demo Video for Employees - Betterment
YouTube
Product Details
- About
- Tech Details
What is Betterment?
Betterment Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
Betterment solves key business problems for HR professionals managing employer-sponsored 401Ks. Users have reported significant time savings and a reduction in administrative burden through the platform's automated investment management process. This has resulted in improved productivity and cost-efficiency.
Employees have also benefited as the platform's seamless onboarding process helps them enroll in the 401K program automatically, saving them time and improving their overall experience. The simple displays of information and easy-to-interpret graphics make it less overwhelming than other 401K portals, providing a more user-friendly experience.
Betterment's good reputation with millennial and Gen X investors offers validation for those targeting these markets. Despite some users facing challenges with the platform's buggy integration and onboarding process leading to extended blackout periods and delays in setup, many have still found Betterment to be an effective solution for managing their 401Ks.
Low fees and costs: Several users have appreciated the low fees and costs of Betterment. They have found it to be an affordable investment option, making it easier for them to save more money in the long run.
Easy-to-use platform: Many reviewers have praised Betterment's user-friendly interface. They have found that setting up an account is hassle-free, and they appreciate the easy-to-use tools provided by the software.
Automated investing features: Users love that Betterment automates mundane tasks such as tax loss harvesting and portfolio balancing. This feature saves them time and effort while allowing their investments to grow at a steady rate. Additionally, users appreciate having access to automated rebalancing, tax loss harvesting, tax-coordinated portfolio feature, low costs, index fund approach, and fractional ETF shares.
Poor Onboarding and Support System: Several users have reported a poor onboarding experience, where Betterment fails to provide enough support in reviewing next steps and requirements. Some users feel that the dates on the website do not update based on real-time information provided, making it hard for them to track progress effectively. Additionally, unless users press for updates, they won't hear back from Betterment.
Difficulty Transferring Money out of Investment Class: Users struggle with transferring money out of their investment class into their investment account due to the process being difficult to find inside the mobile app. This has been a recurring issue mentioned by some reviewers.
Lack of Control Over Investments: Some users feel like they sacrifice control over their money when using Betterment since there is little visibility into how their portfolio performs or ways in which it could be improved. Few reviewers have mentioned this as an issue with using Betterment's services.