Betterment, an automated investing service, today announced that it now provides more than 50,000 customers with sophisticated investment management.
After adding more than 25,000 new customers in the past year, Betterment is the largest, fastest-growing automated investing service and the first in the industry to reach 50,000 customers, who currently have more than $1 billion of assets managed on the company's platform.
"Four years ago we set out to build a different kind of investing service—built to do what's best for our customers and designed to help them become smarter investors," said Betterment Founder and CEO, Jon Stein. "Reaching 50,000 customers tells me that we are making significant progress in our mission to be the best answer to the question, 'What should I do with my money?'"
A few highlights about Betterment's growing community of investors:
- Betterment has customers in all 50 states. The three states with the most customers are California, New York and Texas.
- Betterment's oldest customer is 99 years old; the youngest customer is 18 years old.
- The most popular investment goals are Retirement and Build Wealth.
Betterment provides a globally diversified portfolio of index-tracking ETFs, personalized allocation advice and goal-based investing to customers. Customers can open and customize regular investment accounts, traditional or Roth IRAs, and trust accounts as well as create an account for retirement income.
Since launching in 2010, Betterment has continued to add new features and improve its industry-leading service. In the past year alone, Betterment has released a suite of tax-efficiency features, including Tax Loss Harvesting+ and Tax Impact Preview, along with major updates to its highly rated mobile apps, which are available for both iPhone and Android.