Robo Adviser Betterment Using Charity Giving to Entice Clients
By Julie Verhage
Competition to handle investors’ cash is forcing robo advisers to get increasingly creative in the services they offer clients. The latest battleground? Charitable giving.
Betterment, the largest independent electronic advisory firm with $11.6 billion in assets under management, is launching a new feature that will enable its 300,000 customers to donate shares from their portfolios to certain charities. With the automated program, users can increase their tax savings by avoiding capital gains levies and getting a deduction at the same time.