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Betterment Review & Rating [yyyy]

Betterment Review & Rating 2024

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Is Betterment good? It's not a problem if you have been avoiding investing due to uncertainty about how it works.

This Betterment review will examine the company's roboinvesting service, its pros, and how you can tell if it is right for you.

Cost is a critical factor to consider when you first start investing. It is important to invest in low-cost ETFs or mutual funds, and to use a cheap broker if you buy stocks and bonds directly from people. This brings us to the Betterment review 2022. It is an online tool that makes it easy to invest in stocks and bonds.

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Trading Platform
Account Types
Customer Support


9 /10

Betterment was founded by Jon Stein as the first robo-advisor. It allows advanced investors to place their money in ETFs of stocks or bonds. Stein set out to create an investment platform where the client was at the forefront of his mind and his focus.

Betterment's robot-advisor picks exchange-traded funds for you, based on your asset allocation. If you do not have $100,000 in your account, you cannot create a wallet by yourself. If you don't have $100,000, then you cannot choose wallets that have been professionally built.

All you need to decide is how much you want to put in bonds or stocks as an investor. Betterment's uniqueness is that everyone will have a different portfolio. No investment portfolio is the same. Betterment has many tools to help you decide where to invest your money.

What is Betterment?


There are many options for traditional investing or stock picking. You have two options: you can buy individual stocks or pre-diversified securities, such as mutual funds or ETFs. You will need to research each strategy. It is important to understand when you should buy and sell securities in order to maximize your tax benefits as well as the greatest gains. You will also need to keep an eye on the portfolio to ensure it is balanced and distributed as you wish.

Do you find this exhausting?

Betterment is here to help you with these problems and make your life easier. Remember when I said that their goal was to be customer-centric. ).

How does Betterment work?

Registering online takes only a few minutes. Betterment will ask for information such as your age, income, and expected retirement years. Next, they will ask questions about your goals. They will ask you questions about your goals, such as whether you are saving for retirement, college or emergency savings. They'll then use an algorithm to determine how aggressively your wallet should be managed.

They will use this short quiz to help you see the whole picture of your finances. Betterment can assess your financial goals, risk tolerance, and other accounts to determine the financial picture that is most relevant for you. This will allow them to create investment portfolios that are sensible.

These questions will determine how your Betterment core portfolio was constructed and the level of aggressiveness (or conservatism) of investments.

After you've decided on your tolerance for risk, you can build an investment portfolio.

Betterment will then automatically invest new funds where necessary to keep my investment portfolio balanced. They make the decisions about when and which stocks to purchase or sell and how to maintain the portfolio. All the work is done for your benefit.

The pros and cons of Betterment


  • It's very simple to use the investment tool.
  • Unique features: Multiple goal options and the corresponding asset allocations
  • PensionGuide: Advice and long-term planning for retirement
  • Portfolio options that work: Optimized investment portfolios and simple asset allocation
  • Reasonable price for what you get
  • Access to Certified Financial Planners. With the Premium plan Certified Financial Planners are also able to analyze accounts that are not part of Betterment.
  • Automated tax loss harvesting: Reduce your tax impact
  • Access to human advisers:Access human advisoryis available to Premium customers or those who purchase a separate advice package.
  • Unlimited access to a financial adviser


  • Restrictive: Investors who desire full control of the automated features may not appreciate them.
  • External accounts cannot be managed: You may have access to other accounts but your investment strategy will not work because they are managed elsewhere.
  • Only certain ETFs: You cannot invest in individual stocks or REITs, nor can you invest in commodities.
  • It can be costly: Guidance by financial advisors is very expensive.


9 /10

Betterment is a market leader so it's not surprising that they place a lot emphasis on transparency and trust.

You can find information about tariffs and other important information on the site via navigation or a quick search.

It is also possible to find information about the investment philosophy, methodology, and past performance of Betterment.

You can find the answer to any question you may have about Betterment products in just a few clicks.

Trading Platform

9 /10

We found Betterment's desktop platform intuitive and easy to use in our review.

Betterment is a prefabricated portfolio investing company. It doesn't provide any resources or tools for building your own portfolio.

Interactive charts and reports about the company's financial performance will not be available.

You will find plenty of information, from the reasons that Betterment portfolios use ETFs to links to each fund's prospectus.

You can track your progress toward each goal on the main Betterment page.

Click on any goal such as Retirement, Home purchase, or Savings to access analysis of your portfolio, profit, and performance. You can also view useful insights like percentage rejection and how likely you are to reach the goal based upon your current situation.

It is easy to set-up two-factor authentication, make deposits, change goals, strategies or allocate assets in a Betterment portfolio.

Betterment mobile platform

Betterment's mobile app offers nearly all the same features and benefits as its desktop platform.


Although some features can only be accessed via the desktop platform (e.g. activating automatic balance, closing accounts, and withdrawing funds), the app is still an excellent resource for investors who want to keep track of their investments at all times.

The app, just like the desktop platform allows users to check their progress toward their goals quickly.

Users can also easily modify the parameters of their portfolio distribution and goals at any time.

Analytics and research tools

Betterment offers an abundance of information and research materials on exchange-traded funds and algorithmic portfolio investing. It also provides specific assets that are included in the flexible portfolios available.

Betterment provides resources that are not limited to paper trading and watchlists. They also offer educational materials about portfolio management, ETF benefits, and other issues.

If you are interested in understanding the details that make Betterment tax-efficient, there is a link at the bottom to the tax-free withdrawal documentation. This document also explains how Betterment uses this strategy for minimizing investor tax bills.

Betterment offers a range of resources to assist investors in deciding the best products or strategies to achieve their goals. This includes a calculator that allows users to choose between a Roth IRA and a traditional IRA.

Account Types

8 /10

These are the Betterment account types at the time this review was written.

  • Individual retirement account
  • Roth IRA
  • Rollover IRA
  • Confidence
  • non-profit
  • Individual
  • Joint

cash management account and a Betterment Cash reserve account can also be set up. This allows you to manage all your checking, savings, and investment accounts in one place. The cash reserve account is a high-yield, fee-free savings account that can have funds deposited at multiple banks.

Withdraw and deposit

Once you register, you can link your checking account with Betterment. This will allow you to make online withdrawals and contributions. This allows you to make individual contributions or create a recurring contribution.

This makes it easy to manage your average dollar cost and monthly investments. Betterment does not require you to make a deposit immediately in order to open an investment account.


6 /10

Betterment does not recommend cryptocurrency as an investment option. However, if you do choose to invest in cryptocurrency it should be done in moderation.

It's fine to invest your money in a way you value. However, do it in an informed and principled manner.

Tax loss harvesting is a strategy that you might consider if you are investing in crypto.

Betterment automates the implementation of this strategy for customers who invest in our company. You can use losses that Betterment collects to offset gains from your cryptocurrency investments, for example.


8 /10

Two plans are available with Betterment. Each plan has a different minimum account and fee structure.


Minimum account fees: $0

Annual Fee: 0.255% for balances above $ 2,000,000 (drops to 0.15 once you reach $2 million).

Betterment Premium

Minimum balance in account: $100,000

Annual Fee: 0.45% on Balances Up to $ 2 Million (drops to 0.3% once you reach $2 million).

The only difference between the packages is how much attention you get. Betterment Premium gives you unlimited access to Certified Betterment Financial Advisors who can help you with your portfolios. This includes support for things such as your 401(k), which is amazing. Chat with a human advisor to get investment advice about life events or other financial planning issues.

Promo Code: Limited Time

Betterment is giving away a year of brokerage services for a limited period. You will receive months of free brokerage services depending on how much you deposit.

  • $15,000 - $99999 - 1 Month Free
  • $100,000 - $249999 - 6 Months Free
  • $250,000 + - 12 Months Free

Customer Support

8 /10

Betterment doesn't offer 24/7 support but broker staff can answer your questions seven days a week. Closed on holidays

You can access the extensive FAQ page and Tax Center to solve problems after office hours. Here you will find answers for many common questions.

You will need to wait until business hours to speak to someone. These are 9 am to 6pm Monday through Friday and 11 am to 6pm on Saturday and Sunday.

Email support is available seven days a semaine during business hours. Phone support is only available Monday through Friday.

The Betterment app allows employees to quickly and easily send messages, but it is not a chat function.

Instead, your message will be redirected to an Email and a reply is sent in the same time frame as other emails.


9 /10

Is Betterment safe? Betterment LLC is a registered investment advisor (RIA), and Betterment Securities acts in the capacity of a SEC-registered broker/dealer.

If you're wondering, is Betterment legal? We want to inform you that Betterment is a member SIPC and FINRA. All investments are federally managed and all client investment accounts are covered up to $500,000.

Two-factor authentication protects user accounts. The website is also encrypted and authenticated with strong protocols and encryption, as well key exchange technology.


Are you a candidate for Betterment? We think the answer is yes after reading this Betterment review 2022. Signing up for a Betterment account is free and there is no minimum balance. If you have never tried a robot-advisor before, this is the right one.

Betterment is the original robot advisor. I believe it offers the best service. They are able to give you control while still allowing you to make the decisions. A robo-advisor's goal is to make your life easier, reduce decision fatigue, and build a portfolio.

Betterment is not for you if you are looking to manage your entire portfolio and pick individual stocks. Betterment is a great option for new investors or those who want their money managed.

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