Betterment acquired Rowboat Advisors for a quicker path to direct indexing and to "do it all"
A conversation with Betterment's president Mike Reust
Betterment is known for catalyzing the robo-advisor phenomenon
Their latest ADV (March 2025) shows > $56 billion in regulatory assets under management, including ~919,000 accounts (~900k individual ~$44k, 19k HNW ~$640k).
Long-known for their retail focus, they have expanded into banking and services for RIAs.
No direct indexing… until now
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