Is Betterment a real bank?
Like most cash management account providers, Betterment is not a bank. It's an online financial service provider that helps customers invest their money. Betterment sweeps customers' funds into accounts at program banks, where it benefits from FDIC insurance.
Who is Betterment owned by?
Betterment (company)
Type |
Private |
Founder |
Jon Stein (Founder) Eli Broverman (Co-Founder) |
Headquarters |
New York City, New York , United States |
Key people |
Sarah Levy (CEO) |
Products |
Financial services, asset management, portfolio management, trust services |
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Can Betterment be trusted?
But can you trust Betterment with your money? The answer is unequivocally yes. When you manage your investments through Betterment, all the assets and securities in your portfolio are strictly under your ownership.
How does Betterment make money?
Betterment makes money via its Digital and Premium plans, receiving compensation from partner banks, fees on debit card transactions, referral fees by promoting insurance packages, as well as through Betterment for Business and Betterment for Advisors.