Betterment Advisor Solutions (BAS), the “all-in-one” custodian for modern RIAs, has recently announced the launch of an all-digital solo 401(k), designed for independent advisors and their self-employed clients.
Betterment‘s solo 401(k) is built upon its existing “record keeping system that today powers Betterment at Work.”
When it comes to retirement planning for self-employed individuals, solo 401(k)s offer “key advantages.”
However, the complexity of setup and maintenance can “be cumbersome and time-consuming for advisors and their clients.”
With its new solo 401(k) offering, Betterment Advisor Solutions aims to solve this issue by “providing a full-scale, digital experience for both advisors and clients.”
Key Features & Benefits for Advisors & Clients:
- Enables paperless account opening with no setup fees
- Supports fully digital contributions
- Allows spouse participation at no additional cost
- Offers both Roth and traditional tax strategies
Thomas Moore, Head of Betterment Advisor Solutions said:
“The solo 401(k) is one of our most requested new products, and we are thrilled to launch a solution tailored to this market. Self-employed owners have traditionally been underserved by retirement products, and this innovation closes the gap for them and the advisors who serve them.”
According to a recent Betterment Advisor Solutions survey, retirement planning is “critical for modern advisors.”
More than 80% of this rising generation of advisors currently “manage 401(k) plans, and of those who don’t already, the majority intend to.”
This announcement is reportedly the first of several new “product launches and upgrades coming from Betterment Advisor Solutions in 2025.”
As noted in the update, Betterment Advisor Solutions is the “all-in-one custodial platform for independent RIAs.”
They aim to combine an end-to-end custodian with “an automated back office, robust portfolio management software, and high-touch support to power advisor businesses, helping them streamline operations and serve more clients, more efficiently, across cash, investing, and 401(k)s.”