Betterment at Work Pros and Cons

It's an affordable solution that simplifies retirement planning for both employers and employees, and its costs and fees are lower than those of competitors. Implementation was seamless, thanks to the simple onboarding process and helpful customer support. The website is easy to navigate, making it simple for employees to monitor their accounts and manage their investments. Uploading payroll and adding employees via the website was very easy. I highly recommend Betterment to employers looking for a straightforward, cost-effective 401(k) provider. Review collected by and hosted on G2.com.

When I needed support as an employer to update employee email addresses and phone numbers, I initially struggled to find an immediate solution through the online 'Contact Us' options. I had to schedule an appointment for the following day to get assistance. However, I was pleasantly surprised when the representative reached out almost immediately via email to address my concern. They explained that such changes need to be submitted in writing and helped me take care of it. Thanks to their prompt response, I was able to resolve the issue the same day and cancel the next-day appointment. While the outcome was great, I would have appreciated more upfront clarity about how to handle these types of requests without scheduling an appointment. Review collected by and hosted on G2.com.

The ease of access to the website is great and it is very easy to navigate. I have never had to contact customer service to help with the website and that's great! Review collected by and hosted on G2.com.

I wish that if there was no known address for the employee that they would not send out paper statements. It becomes to much paperwork for me to take care of. Review collected by and hosted on G2.com.

The platform is incredibly user-friendly and intuitive, which has made it easy for our team to navigate and engage with. Once everything was up and running, the tools provided by Betterment at Work were well-received by employees and aligned with our goals for improving financial wellness. Review collected by and hosted on G2.com.

The implementation process was a major pain point for us. While we understand that Betterment was undergoing a significant internal shift at the time, the onboarding experience felt disorganized, with unclear communication and delays that added unnecessary stress. Although their team eventually addressed the concerns we raised, the initial rollout left much to be desired. Review collected by and hosted on G2.com.

I've been using Betterment for managing my retirement investments, and overall, the platform impresses with its intuitive design and ease of use. The dashboard is clean and straightforward, making it a great choice for those who are new to investing or prefer a streamlined experience. Review collected by and hosted on G2.com.

However, for more sophisticated 401(k) investors, the available options can feel somewhat limiting. The platform doesn't offer the advanced portfolio customization or the in-depth strategies that seasoned investors might be looking for. If you value simplicity and an accessible interface over complex investment features, Betterment is a solid choice. But if you're an experienced investor seeking nuanced control over your 401(k), you might find the options a bit too basic. Review collected by and hosted on G2.com.

Technology forward & ease of use for advisors & clients Review collected by and hosted on G2.com.

Onboarding of 401k plans. Specifically, the onboarding specialist I dealt with has a lot of room for improvement. Also, Betterment's use of Apple computers (instead of PCs like the rest of the business world), and Betterment's email system (whatever it is, but it's not MS Outlook like the rest of the business world) make email communication difficult, and things get lost in back-and-forth emails. Review collected by and hosted on G2.com.

Betterment provides a modern take on the 401k. Other providers seem to have a UX that has remained untouched since the 90s as well as horrible customer service (seemingly) designed to make changes difficult.

Betterment's platform is incredibly easy to use. Their robo-advisor tools have helped our employees understand and save up for their retirement. It has increased 401k participation across the organization and has been positively praised in internal feedback so far.

In addition, the integration with our PEO was much easier than expected and at this point requires very little investment of time for us.

Finding a good 401k provider can be a real hassle, but I would highly recommend Betterment! Review collected by and hosted on G2.com.

The sales process was a little challenging; potentially it's the nature of how 401ks work. But once we got onboarded things have been great! Review collected by and hosted on G2.com.

What I liked most about Betterment was the improved experience it offered to my employees. After transitioning from Slavic401k, which my employees found less user-friendly, Betterment's platform made investment management significantly easier. Their website was intuitive and allowed my team to navigate and manage their investments more efficiently. This enhancement was a noticeable improvement over our previous provider, and it positively impacted the overall employee experience with their 401k plans. Review collected by and hosted on G2.com.

The integration process with Justworks was not as seamless as promised. After onboarding, I discovered that manual synchronization was required between the two platforms. Additionally, Betterment's support options were limited to email, as screen-sharing was not available, which made troubleshooting difficult. The task of setting up automated withdrawals was ultimately pushed onto Justworks, complicating the process even further. These challenges, combined with my own frustration, led to the unfortunate default of my 401k loans. While I accept responsibility for my part, I believe Betterment oversold the ease and functionality of their integration. Review collected by and hosted on G2.com.

Betterment at Work is easy to use for a small organization such as ours. It has plenty of investment offerings for our employees to satifsy various levels of risk. Employees can manage their own changes to their contributions and changes to their investments which helps with minimizing mistakes and reduces employer workload. Review collected by and hosted on G2.com.

Not being able to communicate with support via telephone. You need to email support and sometimes there is a lag in response time if they are busy. You can schedule a time to speak with your dedicated support person via telephone; however, sometimes the schedule may not align with when you need an answer. Review collected by and hosted on G2.com.

The self-service portal makes plan management easy. It's convenient, low-cost, and hands-off after implementation. The portal provides automatic notices when reports are due and guides you through everything.

The investments do well and they offer a variety of options depending on the employees' level of knowledge and risk acceptance.

Their high-yield savings account is a great extra feature that is completely free and loved by everyone here.

Integrates seamlessly with our payroll & HRIS. Review collected by and hosted on G2.com.

Biggest pet peeve: Customer support is almost non-existent on the lower tier service. It can take weeks to get a response and email is the only option.

However, I will say it's VERY rare that anything comes up that I can't do on my own via the portal (Only needed support twice, although once was technically a sales question).

Mild annoyance: They frequently send me marketing emails to sign up for Betterment, even though we have been a customer for over 2 years. Review collected by and hosted on G2.com.

Up to date 401k softwares, helpful assistance, automatic payroll linking, significantly reduced form and other administrative tasks, and reduced possibility of mistakes Review collected by and hosted on G2.com.

No negatives so far, although we do not have a dedicated investment coach or specialist, the plans are simple enough to enroll based on risk and target dates Review collected by and hosted on G2.com.