11 Jun How to Sync and View Spousal Accounts with My Robo Adviser™
When couples sign up to invest with My Robo Adviser™ our technology partner, Betterment for Advisers, requires that each user maintain unique access credentials. Because IRAs are titled in the name of an individual, that individual has to open their own account with a separate email address and username, but even couples that open a joint or trust accounts are required to have separate, unique access credentials. Joint and Trust accounts can be linked so both users can transfer assets, but a spouse cannot link to another spouse’s retirement account.
However, to better obtain a view of their combined financial picture, the Spouse’s account can be “synced” as an External Account, which will allow each spouse to view the other’s account information while logged on to their own account. Clients can sync a number of outside accounts from other financial institutions. This aggregation allows for clients to get a better view of their overall financial picture.
How to Sync Your Spouse’s Account with Your Account
If you have not already done so, each spouse will need to open an account at My Robo Adviser™. For clients that have already opened an account, login to your account by navigating to the Client Login tab from the menu bar on our website at www.MyRoboAdviser.com.
Once you are logged in, from the Summary page (the default landing page upon login), scroll to the bottom of the page to view the External Accounts section. If you have already linked outside bank accounts or other brokerage accounts, these will be displayed.
In the External Accounts section of the page, navigate to the right side of the screen and click on the blue Sync external account tab. If there are existing synced accounts, this will be a Sync new button. Note- you will need your spouse’s credentials to sync their account information with your account.
Step 1: Search
- Type “Betterment” in the Search field. Select “Betterment” (do NOT select Betterment Institutional).
Step 2: Connect
- Email field
- type your spouse’s email address (the one they use to access their My Robo Adviser™ account).
- Password field:
- If your spouse has enabled Two-Factor Authentication* (this is the recommended setting for account security purposes), will need to use an App Password in place of their normal password. To generate an App Password, have your Spouse log in to their Betterment account and go to Settings > Security > App Password and click on the blue Generate a new app password A code will be texted to their phone. They may enter “Betterment” when asked what the code will be used for).
- If your spouse does not have Two-Factor Authentication enabled, you can enter their password in the Password When entered, click the blue Connect firm button.
*To enable Two-Factor Authentication, click on the Settings tab from the drop-down menu next to your name in the upper right portion of the screen. Click on the Security tab from the secondary navigation menu (located in the grey bar at the top), then Two-Factor Authentication. You can use a text message or an authenticator app to get verification codes.
It may take a few moments for your account to Sync. When the green check mark appears next to “Sync all of your external accounts”, click Confirm account on settings button.
After syncing external accounts, you will want to update the account details. You should automatically be taken to the External Accounts page, but if not, click on the External Accounts tab from the secondary grey menu bar. Click on the blue “pencil” icon next to each account you wish to Edit.
You can “personalize” each of these external accounts with a unique account name in the Name field, and use the drop-down menu to select Account Type and your Spouse in the Account Owner field. Providing these unique account details for each of the external accounts can help keep you better organized.
You may enter additional information, including Annual contribution, Advisor fee or check the box next to “Include this account in my retirement plan.” However, these additional fields do not provide any additional functions from with respect to your My Robo Adviser™ account.
Navigate back the Summary page and you will see the updated Total Net Worth next to your managed balance will now include the amounts from the external accounts.
Editing or Deleting External Accounts
To edit or delete external accounts, from the Summary page, navigate to the bottom External Accounts section, click Manage. From the Manage page, you can Delete external accounts. If there are any external accounts that you no longer wish to view, click on the three-dot menu icon on the far right, click Edit, then select “Hide”. You can also access your external accounts from the External Accounts tab located on the secondary menu bar at the top.
If you have any questions about syncing external accounts or perhaps have another question about our services, you can contact us directly at 920.785.6012 or email us at email@example.com. My Robo Adviser™ has partnered with Betterment for Advisors as our technology solution to provide our services to our clients. Betterment maintains a support line you can also call for help with navigation, linking your accounts or other site functionality. You can call the Betterment for Advisors support line at 800.400.1571.
Last updated, June 11, 2018
Disclosures: Content is for informational purposes only and is not intended as personalized financial planning or legal advice. Content is subject to change without notice. MyRoboAdviser.com provides investment recommendations based on a goals-based platform. Investments are not guaranteed, not bank insured, and may lose money. Investment Advisory Services provided to clients of My Robo Adviser™ by ETF Model Solutions, LLC, an SEC registered investment Adviser (registration does not imply any particular skill or training). Sub advisory services provided to clients of My Robo Adviser™ by Betterment, LLC, an SEC registered investment advisor. Brokerage services provided to clients of My Robo Adviser™ by Betterment Securities, an SEC registered broker-dealer and member FINRA/SIPC. Certain content on the Betterment, LLC website, including projected returns and tax-coordinated portfolios, may not apply to MyRoboAdviser.com’s investment recommendations. Clients must agree to provide and maintain accurate and current information with respect to their goals and financial circumstances. MyRoboAdviser.com does not provide financial planning or tax advice. Past performance is no guarantee of future results.