BrokAIr Reviews

Betterment Review

"Betterment is one of the most expensive online brokerages out there, despite its reputation as an affordable option." Is Betterment worth the premium price tag?

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Betterment Review - An Overview of the Online Brokerage

Betterment is one of the leading online brokerages and robo-advisors in the US. It was founded in 2010 by Jon Stein and Eli Broverman with the mission of helping people make smarter investments. The company has since grown to provide an array of services, from automated investing to personalized financial advice. Betterment boasts a wide array of features, low fees, and a user-friendly interface that make it an attractive choice for many investors.

Pros and Cons

Betterment offers a number of benefits for its users. The company’s low fees, automated investing capabilities, and personalized financial advice are just some of the features that make it stand out from other online brokerages.

However, there are a few downsides to consider with Betterment. The company does not offer access to mutual funds or other advanced investment products, which may be a deal-breaker for some investors. Additionally, the company does not provide tax preparation services or margin trading.

Founders

Betterment was founded in 2010 by Jon Stein and Eli Broverman. Stein is a serial entrepreneur who previously co-founded several technology startups. Broverman is an alumnus of Harvard Business School and previously worked as an investment banker at Goldman Sachs.

Public Opinion

Betterment enjoys mostly positive reviews from its users. Many praise the company’s user-friendly interface, low fees, and automated investing capabilities. Critics point out that Betterment does not offer access to mutual funds or other advanced investment products.

Newsworthy Events

In 2014, Betterment became the first financial technology startup to receive a license from the US Securities and Exchange Commission (SEC). In 2017, the company announced a partnership with JPMorgan Chase to provide investment advice to its customers. In 2019, Betterment raised $100 million in Series E funding from investors including Franklin Templeton Investments.