Betterment launches robo-adviser for advisers
By Joyce Hanson
Digital investment management firm Betterment on Wednesday announced the launch of an automated “robo-adviser” for traditional advisory firms, with Fidelity Institutional Wealth Services among the first to sign up for the platform that connects advisers and clients online.
Called Betterment Institutional, the platform is now in beta, with 25 advisory firms using it, said Jon Stein, Betterment’s chief executive. Fidelity IWS will bring a number of investment advisory relationships to the Betterment Institutional platform, he said, though he declined to give a specific number.