Robo Advisor Reboot: Betterment Gets Personal
By Alex Eule
Betterment wants to expand the way you think about your robo advisor. Last year, the pioneering robo added human advice to its offerings. On Wednesday, the company took another evolutionary step by allowing customers to personalize their portfolios.
Tweaking asset allocations is a big change from Betterment’s early days, when customers answered a survey about risk and got a fixed portfolio of ETFs. The passive approach was touted as a way to protect investors from emotional mistakes. Machine control prevents panic selling or euphoric buying, but it may have limited the audience.