Website For Do It Yourselfers Throws Down The Gauntlet, Declares "Financial Advisors Are Bad For Your Wealth"

 

Betterment is not doing itself any favors. Instead of helping investors, it's scaring them. Perhaps the company is desperate for clients.

 

While some investors may be okay with a simple DIY service like Betterment, people with real wealth issues -- estate planning, tax issues, and portfolios diversified across private deals and business ventures as well as securities portfolios -- need professional advice. And many others simply don't want the burden of doing it themselves.
 
Moreover, tarring an entire profession for taking excessive fees is just plain dumb. Betterment acts as if all advisors are evil, which is about as silly as saying all DIY apps for investors steer them into bad portfolio decisions.
 
However, advisors need to take note of the marketing spin, which is why it is worth mentioning.

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