Betterment Review : Robo Fund Advisor Reviews.
Betterment.com is one of the biggest players in the Robo Advisor game. A quick Google search will bring up hundreds of blogs and review websites praising Betterment for its ease of use and its slick interface. For people considering investing in a Robo Advisor service for the first time. The amount of choice out there can be staggering – and it’s growing all the time. It’s obvious what advantages Robo Advisors have, in general, over their human counterparts. Robo-Advisors use Softwares to automate investments which financial advisers would charge money to do. Robo-Advisors come with low fees and ready accessibility. But once you’ve settled on making the switch. where do you start?
The Simple Dollar describes Betterment as one of the best of many “low fee, no hassle options”. But once you start to dig deeper into the web……..beyond questionable reviews and pages that seem more like marketing affiliates than anything else. This issue, of what constitutes “hassle”, becomes increasingly important. It might often be perceived as a low-hassle option. but does it really achieve this? and are there any detrimental effects for you and your money?
We went around the web looking for user feedback on the service. Some of the comments are consolidated below.
On forums such as Mr Money Mustache and You Need A Budget. The general opinion seems to be that Betterment is certainly the Robo Advisor requiring the least input from you. But this doesn’t necessarily make it the best option. Customers generally agree that Betterment is easy to use, provides “a great product for a great price”.
“Betterment is fantastic, particularly for taxable accounts, where tax loss harvesting should more than pay for the betterment account fee”
One forum contributor commented that Betterment is certainly good for new investors.Also, that he’s recommended it to others in the past.Though he himself has just withdrawn all his money and reinvested it in Vanguard. Where a little more input from the investor can save money on Robo advisory fees. Interestingly others agreed on the viewpoint. Furthermore, one contributor suggested that investing in Betterment is more than a little bit lazy. Moreover, with Betterment’s fees covering tasks an investor could take care of his investments in less than fifteen minutes a year. Obviously, anyone who wants to use a Robo Advisor is in need of some amount of guidance. Investors may not want to make big financial decisions without someone – or something – else’s input.
On both Mr Money Mustache and YNAB. The main issue with Betterment seemed to be that a minimal amount of extra effort could get most investors a much better choice of mutual funds at Vanguard.