02.13.26

Betterment Launches Pilot of RIA Referral Program

by: Alex Ortolani

Betterment has launched a pilot client referral program for a select group of registered investment advisors using its custodial platform, according to the firm and a recent regulatory filing. Through the Betterment Advisor Network, participating resident investment advisors (RIAs) can receive referrals from Betterment’s retail client base and pay a 0.25% annual fee on referred clients’ assets, with matches based on factors such as service needs, cost preferences, location and communication style. The pilot shows growing competition among custodians to attract and retain RIAs, following similar referral initiatives disclosed by firms such as BNY Pershing and Goldman Sachs’ Ayco.
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