Betterment now offering robo advice

Betterment is the latest digital financial advice firm to incorporate live planners into their business model, as the line between traditional and robo-advisers continues to blur.

The New York-based firm has hired about a dozen financial advisers, half of them certified financial planners, whom Betterment’s retail clients can now reach out to for help via phone or email for an additional cost, the firm said Tuesday. It’s offering two tiers of service, with the initial digital-plus-adviser service requiring clients have a $100,000 minimum.

Additionally, Betterment will connect clients who want a full-time dedicated financial adviser with registered investment advisers who use the Betterment for Advisors platform, essentially providing a referral network to these advice professionals.

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