Betterment is a goal-based online investment company, delivering personalized financial advice paired with low fees and customer experience.
Betterment is the largest independent online financial advisor that serves one purpose: to help you make the most of your money.
Betterment was founded in 2008 in New York City, NY by Jon Stein, a Columbia Business School MBA graduate, and Eli Broverman, a lawyer out of NYU School of Law. The company has it's headquarter based in New York, New York.
Betterment invests in a portfolio of passive index-tracking equity and fixed income exchange-traded funds (ETFs) and offers both taxable and tax-advantaged investment accounts, including traditional and Roth individual retirement accounts (IRAs).
Betterment's current business model includes three areas of business: retail investment, a platform for advisors, and a 401(k) for mid-market business. In July 2017, Betterment announced its assets under management (AUM) had surpassed $10 billion, precisely 13.5 billion USD as of March 2018.
Betterments products also include Tax Loss Harvesting, a program that works to offset taxes on both gains and income; and RetireGuide, a series of online surveys to enable users to determine the success of their long-term financial goals.
Betterment is backed by leading investors including Bessemer Venture Partners, Menlo Ventures, Globespan Capital Partners, Kinnevik AB, & Citi Ventures among others. The company has raised a total of $275M in funding to-date. Betterment won the award of "Biggest New York Disruptor." in June 2010.