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On Hold? We’re Here. Promise.

Read the open letter from our CEO to learn how Betterment is addressing the increased servicing demands of a growing customer base.

Articles by Jon
By Jon Stein Founder, Betterment Published Feb. 05, 2020
Published Feb. 05, 2020
2 min read

Thank you for being a member of the Betterment community.

Our goal is to delight customers with our service, and we know our response times have been missing the mark over the past couple of months. I’m sorry if you had to wait for a response, and I appreciate your patience as we work to improve our Customer Support hold and response times.

You might be wondering, how did you let this happen? What are you doing to fix it? The short answer is, customer call volume grew faster than ever, and we’re racing to hire to get ahead of it.

We’re a smart money manager, meaning we have a lot of automation and self-service tech, and most customers never call us. When you do, we pride ourselves on the live, quality support we offer to our customers. We strive to answer every phone call in under 3.5 minutes. We exceeded our goal in mid-2019, freshly staffed up to handle additional inquiries from the introduction of our cash management products, Cash Reserve and Checking.

But, as we entered the new year, call volume continued growing. We underestimated the popularity of our new products, and therefore the volume of customer inquiries, which has been hitting record highs almost weekly. Our hold and response times grew longer as we grappled with a backlog.

We’re not out of the woods yet, but we’re running fast. To ensure that we continue to provide the excellent live support from qualified reps on which we pride ourselves, we’re hiring even more Support Associates in NYC, Philadelphia, and Denver to continue to serve you quickly and expertly. I’m sorry that, for the last few months, we are not living up to our standards of service and your expectations of us.

I appreciate your patience with us as we scale up. We are committed, as always, to serving (and delighting) you for decades to come.

Jon Stein's Cursive Signature

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