If you’re a newcomer to online investing, you may be understandably looking for advice. But financial consultations come at a cost, and fees can be notoriously high.
Now is your chance to get up to 12 months of personalized financial management from the Betterment investing platform, but there’s a minimum account investment of $15,000 for the promotion.
If you are planning on rolling over a larger account, this could be a great promotion for you.
In order to qualify for this promotion, you will need to open a new Betterment account and deposit at least $15,000. Another requirement is that you must make the deposit within 45 days of setting up your Betterment account.
How many free months of advice Betterment will give you depends on how much you deposit.
Here's a breakdown:
Betterment normally charges an annual asset management fee ranging from 0.25% to 0.40% depending on what plan you choose.
The platform is known as a “set it and forget it” investing platform. You start out by setting your goals – such as saving for a new home or vehicle – then Betterment will create a personalized investment plan to help you reach these goals over time.
How successful is the platform? In the 10 years since it was launched, it now has more than 500,000 customers and manages over $21 billion in investments.
The Betterment Digital plan has no minimum account value requirements, and carries a 0.25% annual fee.
Here’s what digital customers receive:
The Betterment Premium plan carries a $100,000 account minimum and an annual advisement fee of 0.40%.
This plan offers:
These life events may include:
For both the digital and the premium plans, Betterment will not charge you any additional trading fees for transactions like buying and selling securities.
Also, they won’t charge any additional transfer fees for depositing or withdrawing from your account.
This is a good incentive to sign up with Betterment if you have the minimum $15,000 to deposit.
When you are setting up your portfolio, you can take advantage of the 1-month’s worth of personalized advice. If you are playing in the big leagues and have significantly more money to invest, you will benefit from up to one year of financial planners catering to your needs.