Betterment for Advisors has launched a new strategy that gives advisors more flexibility in managing clients' core portfolios on the Betterment platform.
The strategy, called Flexible Portfolio, lets advisors adjust the asset weights of the funds offered under the Betterment Core Portfolio, which until recently, was comprised of several Vanguard stock ETFs as well as several Vanguard and iShares bond ETFs. Advisors could choose a certain risk allocation on the Core Portfolio, adjusting the weights between asset classes, but not the weights of the individual funds.
In addition to enhanced flexibility in the Core Portfolio, Betterment for Advisors added more funds to that portfolio: three REIT ETFs and three high-yield bond ETFs from several ETF providers. They include, in addition to Vanguard and BlackRock (iShares), State Street, Schwab and Deutsche Asset Management.
"One of our top priorities this year has been giving advisors more options and control to customize their experience on our platform," said Cara Reisman, director of Betterment for Advisors, in a statement. "Advisors can now offer an even more personalized service on behalf of their clients."