Betterment is an online option for investors that claim low annual fees and no minimum balance requirements. With an account on Betterment.com, users can transfer money between a linked checking account and their Betterment portfolio’s electronically and without transaction fees. Users decide whether to invest in stocks or bonds, and then the company helps you make investment decisions based on their research of the current market. There is a 30-day free trial for individuals interested in seeing how the system works before making a long-term commitment.
Betterment is maintained by an SEC Registered Investment Advisor, Betterment LLC. Betterment Securities provides brokerage services and is an SEC-registered broker-dealer and FINRA/SIPCA member. Like all investments, there are no bank guarantees for the performance of your portfolio, and the investments are not FDIC-insured.
When Betterment CEO Jon Stein was getting married, he was not satisfied with the options he had for gift registries. He was looking for something that would help his new family reach their future goals, and a new set of mixing bowls wasn’t going to do it! This led him to create something new: an investment gift registry called Betterment Gifts.
There are several major life events for which people commonly create gift registries of items they need or want from gift giving friends and family. Weddings are a common occasion for gift giving where the couple will often create a gift registry to help avoid duplicate gifts and give people an idea of the things they want or need. Now that many couples are waiting longer to get married it is not unusual for a couple to live together before they are married, and therefore many couples already have the housekeeping items that people normally give as wedding gifts.
The purpose of gift registries for gift-giving occasions is to help people who aren’t sure what the recipient would like choose an appropriate gift. It eliminates a lot of the stress associated with gift-giving for significant life events, and can reduce the number of duplicate gifts or unneeded items an individual receives that will need to be returned or exchanged.
Betterment Gift Registries
For couples who are not in need of specific products as wedding gifts, or would prefer to grow their investment portfolio for future goals, Betterment Gifts may be a better option for a gift registry. Other commonly created gift registries on Betterment Gifts are used for baby showers, college savings, or a new home purchase – but you can create a gift registry for any gift-giving occasion.
If you would like to set up a Betterment gift registry, you need to become a Betterment account holder and then set up the online registry to let your friends and family know what you are saving for. You will create a custom note to explain what your registry is for and which is displayed on your personalized landing page, as well as set up small gifts for your friends and family to choose from that contribute to your overall financial goals. Once your registry is created, you can share your gift registry across your social networks or by email. Some people create little cards with the URL to their personalized gift registry landing page to insert into their mailed invitations for the party or event accompanying the occasion.
The financial gifts received in a Betterment Gift Registry are added to your Betterment Portfolio, and have the potential to continue growing through your mix of stocks and bonds.