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Betterment hits $3B in AUM
Betterment has been crowned the new king of the robo-advisors.
The 7-year-old wealth management platform now holds more than $3 billion in assets under management, almost three time as much as it managed in January, reports the New York Post. Betterment has made strides across the industry, as Goldman Sachs recently approved the platform for Goldman employees to use for investing. Betterment is also in talks with JP Morgan for a similar agreement.
Wealthfront, Betterment's main fintech rival, manages "nearly" $3 billion in assets, according to its website. Charles Schwab's robo-platform has the backing of a traditional firm, but a product that rivals fintech firms like Betterment. The Schwab robo-platform manages more than $4 billion.
Photo: OTA Photos