We previously reported on Betterment’s free trade offer. Betterment is now offering a tiered cash bonus of between $75-$599 for new customers who rollover an IRA or 401(k) to a Betterment IRA with at least $25,000. To receive the maximum $599 bonus, one would need to rollover at least $200,000.
Cash Bonus of Up to $599
To receive the offer, you must do the following:
- Open a Betterment IRA.
- Rollover your existing IRA (traditional or Roth) or 401(k) to a Betterment IRA with at least $25,000.
- A specific expiration date for this offer is not cited.
- You must maintain the qualifying deposit in the account for 365 days.
- Valid only for new accounts at Betterment.
- Not valid with any other offers and not transferable.
- Offer only available to U.S. Residents.
Betterment is increasingly gaining recognition for advocating a more streamlined, passive approach to investing. If this describes your goals, you may prefer Betterment’s approach over a more DIY approach that would tend to bow more readily to investor whims. Betterment’s website also makes the claim that its portfolio and tax-efficient algorithms tend to yield better average returns than the average DIY investor.
For those interested in rolling over their retirement accounts to Betterment, they note that their rollovers typically take less than one week to complete. In addition, Betterment has no trade or transaction fees. They offer management fee tiers whereby the more you invest, the less you pay in management fees.
Do you have experience with Betterment? Let us know in the comments below!