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  • 07.14.16

Betterment beats out other robo-advisers to reach $5 billion in assets under management

Wealth management startup Betterment, which earlier this year raised $100 million in venture capital, said today that it has surpassed $5 billion in assets under management. That milestone is modest by the standards of wealth management giants like Fidelity, but a first for an independent robo-advisor like Betterment. 

Competitors like Wealthfront and Personal Capital are going after the same market for young investors. These robo-advisors, as they are known, lower the barriers to investing by reducing fees and asset minimums, and manage portfolios using software intelligence. AH