NEW YORK, July 14, 2015 /PRNewswire/ -- Betterment, the largest automated investing service, today announced the release of SmartDeposit, a feature that makes it easy for customers to invest without having to think about it. SmartDeposit intelligently checks in on a customer's bank account balance and, based on a customer's personalized settings, determines when it's appropriate to invest—automatically. SmartDeposit is available for all Betterment customers.
SmartDeposit puts more of your money to work in the market and gives you the control to set your target balance and withdraw at any time. The new tool will transfer money from your bank account into Betterment if your balance is above a set threshold, removing excess cash sitting in your low-interest bank account and putting it into a globally diversified portfolio of ETFs that is customized based on your financial goals.
"At Betterment, we aim to automate the investing process," said Dan Egan, Betterment's Director of Behavioral Finance and Investing. "With SmartDeposit, we enable customers to reach their financial goals without worrying or thinking about their finances. Our goal is to continue to automate in areas where we know customers benefit."
Betterment offers its more than 98,000 customers a globally diversified portfolio of index-tracking ETFs, personalized allocation advice, and goal-based investing. Customers can open and customize regular investment accounts, traditional or Roth IRAs, trust accounts, and accounts for retirement income.
Since launching in 2010, Betterment has continued to add new features and improve its industry-leading service. In the past year alone, Betterment has released a suite of tax-efficient features to all of its customers regardless of balance, including Tax Loss Harvesting+ and Tax Impact Preview. Betterment also recently released RetireGuide™, an advice engine that informs customers whether or not they are invested correctly for a comfortable retirement.
For more information, please visit Betterment.com or watch the SmartDeposit video.
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Betterment is the largest, fastest-growing automated investing service, helping people to better manage, protect, and grow their wealth through smarter technology. With more than 98,000 customers and over $2 billion in assets under management, the service offers a globally diversified portfolio of ETFs, designed to help provide you with the best possible expected returns for retirement planning, building wealth, and other savings goals. Betterment is a CNBC Disruptor 50, Benzinga's Robo Advisor Tools of the Year and Webby award winner and has been featured in the New York Times, Forbes, and the Wall Street Journal. Betterment helps people to achieve a smarter financial future with minimal effort and at a fraction of the cost of traditional financial services.
Disclosures: Determination of largest, most trusted, most popular, and most preferred online financial advisor and automated investment service reflects Betterment LLC's distinction of having the most accounts, based on Betterment's review of accounts numbers self-reported in the SEC's Form ADV, across Betterment's survey of automated RIA investing services as of January 31, 2015.