Betterment Advisor Solutions

Betterment Advisor Solutions is the custody and technology platform Betterment sells to independent registered investment advisers. Betterment Securities holds client assets, and one platform covers portfolio management, tax features, reporting, billing, digital account opening and a client portal carrying the firm's brand, for a single fee. Betterment says many firms run it next to a Fidelity or Schwab relationship for a subset of clients where automation can improve profitability.

Advisors can build custom models or individual portfolios, or pick from a model marketplace. Rebalancing, tax-loss harvesting and fee billing run automatically across accounts, and a tax suite covers portfolio transitions. Account opening and ACATS transfer paperwork are prepared digitally. Other features include high-yield cash, securities-based lines of credit, securities lending, 401(k) and solo 401(k) plans, with direct indexing listed as coming soon. Firms are assigned a transition team, a relationship manager and support staff, and the platform connects to outside portfolio management, document management, financial planning, compliance and data tools.

Betterment Holdings Inc. is based in New York. Its consumer business offers automated investing, checking and retirement accounts, and the company reports more than 1 million customers and more than $70 billion in assets under management across its businesses. Clearing for Betterment Securities is provided by Apex Clearing Corporation.