Betterment Expert Review, Pricing, Alternatives - 2022

Huda Idris
Technical writer, HR software advisor, and marketing strategist
May 16, 2022
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Betterment Versus the competition

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

Pros
Cons

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.

Who shouldn't buy Betterment

Betterment Customers

Betterment Stats

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

Betterment Key Features

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

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.

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
Motivosity Recognize
Motivosity Recognize
Motivosity Lead
Motivosity Listen
Free
$5 per person per month
$6.50 per person per month
$2 per person per month

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.

About Betterment

Betterment Alternatives

ForUsAll is a great choice for small and medium-sized businesses (SMBs) because it is very quick to set up and quite affordable.
401GO is comprehensive but also extremely affordable; it charges up $9 per participate per month without any base fee, administration fees, filing fee or compliance fee.
Human Interest is a scalable platform that works for both small businesses and large operations. It’s also quick to set up and offers transparent pricing.
Guideline is one of the biggest vendors in this space. It is robust, comprehensive and easy to use. Its low fees are also a bonus.
Ubiquity is very quick to set up. Any company can create an account and have it ready for use in as little as 15 minutes.
Paychex is an integrated platform that covers a great deal of HR needs. Having payroll and retirement benefits be managed on a single platform makes things a whole lot easier for businesses, especially small ones.
Listed in our research about the Top 401k Software
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