Betterment takes aim at 401(k) market
By Nick Thornton
The inevitable has happened.
Today, New York-based Betterment, the robo advisory that oversees more than $2.5 billion of retail investors’ assets, is rolling out Betterment for Business, a 401(k) platform that hopes to immediately compete for a slice of the $5.5 trillion defined contribution market.
“We think what we’ve built is how all retirement plans should work, and someday will,” said Jon Stein, Betterment’s CEO and co-founder.