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Financial Planning

Betterment’s hunt for assets turns to client bank accounts

By Sean Allocca

Betterment’s latest platform upgrade aims to solve a curious problem for many Americans — having too much cash in checking accounts.

The leading independent robo advisor introduced a new tool to its more than 400,000 retail clients that can monitor a client’s linked checking account and steer excess funds into a low-risk ETF portfolio generating returns of about 2%, according to the firm. The tool employs a cash flow analysis algorithm that scans linked accounts daily to transfer funds identified as excess.

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This article originally published December 4th, 2018 on Financial Planning

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