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.Read the Original Article
This article originally published December 4th, 2018 on Financial Planning