Practice Management

Betterment slashes fees for millionaire clients

Andrew Foerch / Mar 27, 2025
Portions of client balances between $1m and $2m will receive a discount of 10 basis points, while portions of balances above $2m will receive a discount of 15 basis points.
Robo-advisor giant Betterment has cut its fees for wealthy clients.
The firm disclosed in a regulatory filing this week that it has reduced its asset-based fees for retail clients with $1m or more, such that the portions of invested balances between $1m and $2m receive a discount of 10 basis points, or 0.1%, and portions of balances above $2m receive a discount of 15 basis points, or 0.15%.
Betterment’s fee schedule starts at an asset-based wrap fee of 25 basis points, or 0.25% of their total balance for accounts with $20,000 or more. Health savings accounts (HSA) come with an additional 0.25% asset-based fee for the HSA administrator on top of the 0.25% wrap fee, while 401(k) accounts through Betterment at Work bring additional fees for recordkeeping services.
Betterment also offers a hybrid model, Betterment Premium Services, through which it offers clients with a minimum of $100,000 the ability to receive discretionary or non-discretionary advice or financial planning from Betterment’s...
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