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Betterment Goes Social

A new feature of Betterment’s mobile app will allow customers to send instant messages to financial experts.

By Javier Simon editors@strategic-i.com | July 27, 2017

Online financial adviser Betterment is enhancing its mobile app by allowing its customers to access advice from licensed financial experts via instant messaging free of charge. The firm says a user can expect a response to any financial question within one business day.

Experts can guide customers through various money-focused tasks such as determining their risk level, deciding how much money to invest in an account, and figuring out which funds to move over to Betterment.

"We're always looking for ways to further personalize our offering so customers get the help they need in the way that works for their individual needs and preferences," says Alex Benue, CFP, VP of Financial Advice and Investing at Betterment. "Giving all customers the ability to connect with our experts through our app is a natural extension of this year's announcement of access to CFP professionals and licensed experts, and meets the needs of a growing, increasingly diverse customer base that wants more flexibility." 

This feature is available to anyone with a Betterment account regardless of selected plan and account balance. Betterment currently offers two plans for customers. Betterment Digital provides automated portfolio management, tax-efficient investing features and holistic investment advice for an annual fee of 0.25%. Betterment Premium offers all these benefits as well as unlimited calls with Betterment's team of CFP professionals for an annual fee of 0.40%.

Betterment currently serves more than 280,000 customers and manages more than $9.7 billion in assets. To learn more about the new messaging feature, visit betterment.com/financial-experts/ The Betterment iOS app can be downloaded here and the Android app here.