When a Crash Comes, Will Robos’ Clients Run?
By Danielle Andrus
That appears to have been the case at Betterment. According to Arielle Sobel, a spokeswoman for the robo-advisor, “our customers behaved incredibly well,” with less than 2% changing their asset allocation.
The platform experienced very large onetime deposits from customers, saw a “strong increase” in signups and had a “record week for tax-loss harvesting, which helps our customers when the market drops.”