NEW YORK, March 28, 2018 /PRNewswire/ -- Betterment for Advisors announced today the launch of a new portfolio strategy advisors can use to manage their clients' investments, Flexible Portfolio. Advisors using the Betterment for Advisor platform now have the ability to control asset class weights within their clients' core Betterment portfolio, allowing them to decide how money is distributed.
"One of our top priorities this year has been giving advisors more options and control to customize their experience on our platform," said Cara Reisman, Director of Betterment for Advisors. "With the launch of Flexible Portfolio, advisors can now offer an even more personalized service on behalf of their clients."
Using this new portfolio strategy, advisors now have the option to personalize a client's portfolio around their views, current holdings and personal circumstances. Advisors also have more flexibility to express their expertise and preferences within their clients' investment holdings.
"For years, Betterment has provided investors access to low-cost, efficient portfolios. The launch of Flexible Portfolios allows expertise from partner advisory firms, who may have different views about the expected risk and return of various asset classes, but still believe in the foundations of low-cost, evidence-based investing," said Brad Felix, CFA, Portfolio Manager and Founder at RhineVest and client of Betterment for Advisors. "We're thrilled that Betterment is giving us the opportunity to provide more control of our clients' investments. Adopting this platform has been instrumental for our firm-this update only enhances the service we'll be able to provide to our clients."
Since its launch, Betterment for Advisors has continuously improved its platform to meet the demands of advisors. The introduction of Flexible Portfolio follows a series of improvements to its platform to meet this goal, including enhancements to its allocation advice, and access to additional portfolio strategies including an SRI Portfolio, the BlackRock Target Income portfolio, Goldman Sachs' Smart Beta, and the Vanguard Portfolio.
At launch, Betterment's Flexible Portfolio will be available for all advisors to use to manage their clients' investments. Flexible Portfolio is complimented by Betterment's industry leading features designed to increase after-tax returns: Tax-loss harvesting (TLH) and Tax-coordinated portfolios (TCP).
Betterment is the largest independent online financial advisor with more than $13 billion in assets under management. The service is designed to help increase customers' long-term returns and lower taxes for retirement planning, building wealth, and other financial goals. Betterment takes advanced investment strategies and uses technology to deliver them to more than 340,000 customers across its three business lines: direct-to-consumer, Betterment for Advisors, and Betterment for Business. Learn more.
Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Determination of largest independent robo-advisor reflects Betterment LLC's distinction of having highest number of assets under management, based on Betterment's review of assets self-reported in the SEC's Form ADV, across Betterment's survey of independent robo-advisor investing services as of July 11, 2016. As used here, "independent" means that a robo-advisor has no affiliation with the financial products it recommends to its clients. If you also have a 401(k) account through Betterment For Business, that account is subject to a separate fee schedule and is not included in your balance for determining eligibility for the fee tiers or subject to the fee cap mentioned above.