Tips and Best Practices For Betterment's New Interface - MyRoboAdviser™
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Tips and Best Practices For Betterment’s New Interface

18 Sep Tips and Best Practices For Betterment’s New Interface

MyRoboAdviser™ has partnered with Betterment for Advisors as our technology platform to help deliver our services to you. Betterment recently redesigned their user interface, and the next time you log in, you will notice some changes. See below for a few tips that can help you better navigate these changes.

For the most part, the changes that have been made to the display are cosmetic. Based on customer feedback, Betterment is attempting to help you navigate the site with fewer mouse clicks.

New Retirement Plan Tool

One of the biggest changes is the addition of the new Retirement Plan tool. This feature replaces the Retire Guide Program. The new tool incorporates external portfolios and is designed to help you get an idea on if you are on- or off- track to reach your desired goal. The next time you log in to your account, you will be asked to answer several questions with respect to your retirement goals. To optimize the retirement planning tool, complete the information requested, including your planned annual contributions, your retirement age and zip code, and your desired spending power. If you don’t have a clue what your desired spending should be in retirement, Betterment will estimate it for you.

After entering in these details, Betterment estimates if you are on- or off- track to meet this goal. Betterment will compare your projected spending power to your desired spending power. Once you estimate your retirement spending, a balance projection graph is provided. Another tool recommends the amount of annual contributions that you should save per year based on your desired spending amount you entered. You can always make changes to these goals whenever you would like. We recommend you go into your account and set all of these tools up in order to fully optimize your experience. Betterment’s tools are based on certain assumptions, and some of these assumptions are designed for their two-dimensional stock-bond portfolios, and may not directly apply to MyRoboAdviser’s 3-Dimensional portfolios. You can read more about these assumptions here. If you have questions, we encourage you to contact us to ask how these new tools apply to your goals and portfolios.

Keeping Track of All of Your Goals and Accounts

The new display lists all of your goals or “accounts” on the left margin. To help you better organize your goals, it might be helpful if you 1. Delete unused accounts or goals with zero balance that you do not intend to fund, and 2. Name or rename accounts so they are more specific. Deleting accounts is simple, when you are in the overview of your account, click on the account you wish to delete. When you are in the specific account, click “goal settings”, which is on the right side of your screen, and then “delete goal”. For your remaining accounts, it will be easier for you to identify them if you rename them. For example, if you have an individual account, a Roth IRA, a Traditional IRA, and a joint account with your spouse, Betterment’s default naming convention for these accounts may display them as: “General Investing”, “Retirement”, “Retirement”, and “General Investing”, respectively. Thus, for the above example, you might consider renaming them “Bill’s Taxable Account”, “Bill’s Roth IRA”, “Bill’s Traditional IRA” , and “Bill’s and Susan’s Joint Taxable Account”. It is easy to rename each goal- just click on the goal, and in the pop-up dialog box, just retype the name you wish the goal to be.

Enable Two-Factor Authentication

We recommend that you enable Two-Factor Authentication. Last week’s blog post highlighted security and Two-Factor Authentication, but we cannot overemphasize the importance of increased security for all of your online accounts. Cyber attackers are becoming increasingly better at hacking into accounts and other password protected locations. Thus it is imperative to setup Two-Factor Authentication and protect yourself from cyber-attacks. Check out our blog post on Two-Factor Authentication to learn more.

Have questions?

If you have any questions about holdings in your account or one of our models, or perhaps have another question about our services, you can contact us directly at 920.785.6012 or email us at support@myroboadviser.com.  MyRoboAdviser™ 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, September 18, 2018

Disclosures: Content contained herein is presented is for informational and educational purposes only and is not intended as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies, nor shall it be construed to be the provision of individualized investment, tax or legal advice

My Robo Adviser is a digital investment service advised by ETF Model Solutions, LLC.   Investments recommended by My Robo Adviser™ involve risk and will fluctuate in value.  Unless otherwise stated, investments are not insured or guaranteed. May lose money. My Robo Adviser™ utilizes the platform and technology services of Betterment LLC, an SEC Registered Investment Adviser.  Betterment provides the wrap fee program that assists us in providing our services to you. Custody and trading services for the program are provided by Betterment Securities, an SEC registered broker-dealer and member FINRA/SIPC.

My Robo Adviser’s services are specific to the investment goals that you identify.  We do not provide comprehensive financial or tax planning. Our advisory services rely upon an algorithm designed and maintained by Betterment to assist us in determining our portfolio recommendations.   Unless you directly consult with My Robo Adviser™ advisory personnel, the algorithm is the sole basis of the advice.

Clients and perspective clients should be aware that certain tools and content on the Betterment, LLC website, including projected returns, functionality, tax-coordinated portfolios and links to investment philosophy, research, educational materials and FAQs apply solely to Betterment’s 2-dimensional portfolios and may not apply to MyRoboAdviser.com’s 3-dimensional investment recommendations.

Existing My Robo Adviser™ clients are reminded to login and update personal information whenever their goals or personal financial circumstances change.  Clients should also confirm that their current goal allocation is aligned with the recommended target allocation provided for each goal. Clients with questions regarding their account, personal financial circumstances, goals, or an investment allocation with respect to our service should contact us via email or telephone.

Prospective clients contemplating opening an account with My Robo Adviser™ are advised to read My Robo Adviser’s Form ADV Brochure, Part 2A for important disclosures about our services, business practices, the costs and risks of investing, and other important considerations prior to opening their account.  You can access the most recent version of our Form ADV via a link on our website.

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