Betterment Institutional has been rebranded to Betterment for Advisors( B4A) and the company plans to expand the investment options open to its institutional clients.
Betterment launched its advisor platform in 2014 to give financial professionals access to its investment management technology.
Betterment insists that the name change is more than skin deep, revealing additional portfolio options that will be available to B4A clients in October.
Model portfolio strategies using Vanguard ETFs will be added to the platform to complement the company’s proprietary Betterment portfolios. Like the Betterment portfolios, the Vanguard model portfolios will use low cost, index-tracking ETFs.
While Betterment’s model portfolios, which already incorporate many Vanguard ETFs, tilt towards U.S. value and small-cap stocks, Vanguard’s offerings will allow advisors access to international equities and global investment-grade bonds.
Betterment said that additional portfolio options may be revealed in the near future.
The new B4A platform will also further streamline Betterment’s digital account opening processes, the company said. The platform will continue to include automated advisor-branded communications to clients, an advisor dashboard and Betterment’s automated back office and practice management assistance.
Betterment now has three business lines, a retail-facing robo-advisor, Betterment, B4A, which serves advisors and institutional clients, and Betterment for Business (B4B), which offers 401(k)s for employers.