Digital Financial Advisor Platform Betterment Introduces “Tax-Smart” Transitions Features for Advisors

Betterment, the independent digital financial advisor, today announced that Betterment for Advisors, its RIA custody division, has launched an integrated suite of tools that will provide financial advisors “with granular control over how client assets are managed, transferred, and sold.”

The new features will “give advisors the ability to set specific capital gains allowances and easily turn rebalancing on and off on behalf of clients in order to transition client assets to new portfolio models with greater precision and tax-optimization.”

The new automation is “built to help advisors deliver personalized, tax-efficient investment management at scale and pairs seamlessly with Betterment’s latest update to its suite of digital client onboarding options for advisors, which was released in April.”

New features include:

  • Tax optimization: Clients’ assets are automatically moved in a tax-efficient manner, whether when rebalancing or transitioning assets
  • Streamlined client onboarding: Automated features designed to help advisors quickly and efficiently onboard multi-client households
  • Customizable drift thresholds: Advisors can personalize drift thresholds for each risk level and goal

Tom Moore, Sr. Director of Betterment for Advisors, said:

“No one in the RIA marketplace is better positioned to help Financial Advisors tackle the age-old problem of transitioning clients out of legacy securities. Our tax smart trading technology takes what was once a burdensome task and automates it, saving advisors time and effort that can be better spent growing their businesses. This ultimately delivers a better experience for the advisors’ clients. We are modernizing their portfolio while keeping tax management top of mind.”

As noted in the update, Betterment for Advisors claims it is “a future forward RIA custodian for planning-focused advisors and their growing firms.”

By combining their technology with an advisor’s personal touch, we are reimagining what’s possible in wealth management.

Their automated, tax-efficient portfolio management, paperless back office, and intuitive user experience enables advisors to efficiently scale their businesses and focus their time on building deeper customer relationships.

Hundreds of firms trust Betterment for Advisors “to custody and manage client assets.”

As reported recently, Betterment at Work, a provider of modern financial benefits for today’s diverse workforce, is launching a 529 Education Savings solution. The new offering represents Betterment at Work’s evolution into a financial wellness platform with the 401(k) at its core, as it rapidly scales the number of employers it serves nationwide.

The 529 solution is “provided through a partnership with Ascensus — whose technology and expertise help millions of people save for retirement, education and healthcare.”

Sarah Levy, CEO of Betterment, said:

“Adding educational savings to our benefits solution further cements our commitment to help businesses support the financial needs of their employees. Our customizable financial benefits can be personalized to fit each worker’s goals – including retirement savings, emergency savings, and student loan management – all in one place.”

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