Betterment is a popular robo-advisor Android application designed to help users invest and save money. This utility creates a tailored portfolio with just $10 and no minimum balance requirement.
Goals and portfolio
Users can keep track of their financial life across short- and long-term savings goals such as buying a home, saving for education, or retirement. The app creates a personalized investment portfolio and optimizes the chances of reaching those objectives.
It is possible to set up recurring savings on your preferred schedule to contribute to your account regularly. The Smart Deposit feature analyzes your linked bank accounts and automatically invests excess cash. The app offers expert-built portfolios that you can customize based on your risk level and preferences. There are a lot of automated tools such as rebalancing, dividend reinvestment, and tax-loss harvesting to optimize your assets.
Recommendations and articles
The utility offers socially responsible investing options and retirement planning tools. There are recommendations on how users can optimize their savings and strategies to meet their goals. Customers can earn a high variable APY on cash deposits.
Betterment does not just provide a platform for investing, it also offers educational resources to enhance customers’ financial literacy. Blog articles, in-app guides, advice, and news are provided.
Features
- helps users to invest money;
- it is possible to set goals and plan savings, just like in Fidelity Spire;
- there are automated tools for creating and balancing portfolios;
- provides access to educational materials;
- the app is free to download and use;
- compatible with current Android versions.
