CBS Money Watch
“Robo” adviser aims to cut retirement-plan costs
By Liz Weston
An automated investing service plans to bring a cheaper, computerized product to the 401(k) market, but some industry observers predict the company, Betterment, faces an uphill battle to win over the small- and medium-sized businesses it seeks.
Betterment, which manages over $2.6 billion in individual accounts, accelerated its plans for a 401(k) offering after struggling to find an affordable retirement plan for its own employees last year, spokesman Joe Ziemer said.