Not ANOTHER! When will all these startups stop wanting to democratize investing?
The tone suggests that Finance 2.0 is old news, as though we’re talking about Latin American revolutions in the ’60s: These upstarts are unlikely to succeed or change anything.
Fidel, Raul, and Che in 1959
We’ve been following the subject of this article, Covestor, since they were only this_tall. We think they’ve launched an interesting product, one that wraps all commissions into a single fee and gives anyone a chance to be an investment advisor (although data shows that few of them will be successful).
Here at Betterment, we do it even better: Make the fee lower. Make it a single account. Make it one decision. Cut out middlemen – don’t introduce more.
It’s not democracy at work, rather it’s efficiency, behavioral psychology, and decades of investing research at work. Now thats’ something to get excited about.
Betterment is the largest independent robo-advisor, helping people to better manage, protect, and grow their wealth through smarter technology. With more than 175,000
customers and over $5 billion
in assets under management, the service offers a globally diversified portfolio of ETFs, designed to help provide you with the best possible expected returns for retirement planning, building wealth, and other savings goals. Betterment also helps customers get on track for a comfortable retirement with RetireGuide™, a retirement planning tool that lets people know how much they should save and if they are investing correctly.
Betterment is a CNBC Disruptor 50 and Webby award winner, and it has been featured in the New York Times, Forbes, and the Wall Street Journal. Betterment helps people to achieve a smarter financial future with minimal effort and for a fraction of the cost of traditional financial services. Learn more here.