Fees and Deposit Limits8.2/10
Ease of Use9.0/10
Account Types and Services8.1/10
- No minimum deposit
- Great flexibility for hands-on investors (Betterment Premium)
- Full range of account varieties available
- No trade or transaction fees (Digital plan)
- $100,000 minimum deposit required for Premium plan
- Cannot work within current brokerage accounts
First off, we’ll start our Betterment review by analyzing the management fees and deposit limits. Back in 2016, Betterment offered the distinct benefit of not imposing any transaction, trade or rebalancing fees. This robo advisor assesses or rebalance fees according to your account balance.
But now, the same holds true with the Betterment Digital Plan.
This is the traditional hands-off Robo Advisor that gives advice on how to save for your retirement, saving for other financial needs (buying a new house or a new car), and choosing the best IRA. You get all this with no minimum balance, and it will only cost you 0.25% per year.
This is not bad. Considering the fact that the Betterment Digital Plan includes tax loss harvesting, automatic rebalancing, tax-coordinated portfolios, and unlimited access to licensed financial experts, this service will also allow you to sync all your external accounts so you can get a clearer view of all your investments.
Now, Betterment offers a new plan: Betterment Premium.
This plan is perfect for those who own multiple assets or want to be more involved, while getting access to unlimited financial advice. The Betterment Premium Plan requires an initial deposit of $100,000 and has a fee of 0.40%, so it’s definitely more suited for high-net-worth investors.
Flexibility is a crucial aspect in our Robo Advisor reviews. Betterment is a fully-automated investment service, with the option of being more hands-on with Betterment Premium.
Ease of Use
Account and Investment Types and Services
Suitability for Different Investment Budgets