Finding Advice for More Modest Retirement Investments
Article by Ron Lieber
Investors at Betterment, which slashed its prices last year, now pay about 0.3 percent on average, and the company has taken in nearly $100 million since it cut its fees. People with more than $100,000 invested there pay only 0.15 percent annually and can get advice from the founder himself, Jon Stein.
Still, he said that not many people had sought him out and even then it was usually just to make sure they were on track with their goals.
“Most situations are well-handled by software,” he said. “In the long term, that’s going to be the way most people get their advice. We’re replacing the investment adviser with software.”
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This article originally published January 22nd, 2013 on The New York Times