Betterment: An In-Depth Expert Review - 2021

Phil Strazzulla, HR Tech Expert
March 19, 2021

We spend hundreds of hours researching the best HR and recruiting software so you don’t have to.  We never take money from vendors during our research phase and rely heavily on practitioners and experts to help us recommend the right software.  However we may earn a small fee if you click on vendor links on this page. Learn more

You can questions about this tool in our free HR Tech Buyers Community.

What sets Betterment apart is that it isn't just a 401(k) platform, it offers holistic advice across all saving and investing goals.

What's Inside

Betterment Review

Betterment is a cloud-based financial and investment advisory platform with 3(16) and 3(38) support. It gives personalized, fiduciary advice for retirement planning, wealth building, and other financial goals so participants can invest wisely and make the most returns. Employers can use Betterment for Business to offer Traditional 401(k), Roth 401(k), Safe Harbor plans, and profit-sharing plans.

Betterment Customers

Betterment Stats

  • 16% higher contribution rate
  • $20 billion in assets
  • 460,000+ investors

Betterment Resources

No items found.

Buying HR Software? Here's some quick advice

Key Betterment Features

  • Automatic enrollment
  • Traditional 401(k) and Roth 401(k)
  • 3(16) and 3(38) fiduciary
  • Safe harbor 401(k)
  • Profit sharing

Betterment Implementation

Betterment is cloud-based which makes its implementation relatively easy (there isn’t anything to download or physically install). Simply head to Betterment’s website and click the “Get Started” button on their landing page. This will take you to a few forms where you can create an account and make your plan purchase.

Betterment Customer Success

Betterment has a searchable FAQ page that provides customers with answers to the most common questions about the platform’s usage. For additional help, customers can reach out to Betterment’s customer support team by email or phone.

Betterment Key Integrations

Betterment integrates with some of the most commonly used payroll providers including Ascentis, Rippling, ADP Workforce Now, Paylocity, Workday, Paychex, and Ceridian.

What to be aware of

Betterment Pricing

Betterment offers two pricing plans:

  • Standard: $42 per month (base fee) + $4 per participant 
  • Premium: $125 per month (base fee) + $4 per participant
» Save Money: Check out our resource on how to save money when buying HR tools

Betterment Alternatives

No items found.
PayChex

Integrated payroll and retirement

Human Interest

Scalable platform

ForUsAll

For small and mid-sized companies

401GO

Comprehensive and affordable

Betterment

Advice and investing goals

Ubiquity

15 minute setup

Guideline

Low fees