The shift from B2c to B2BC
Betterment for Business, the robo-advisor's new 401(k) platform, officially launches today with about 50 plan sponsors already signed up to use it, Betterment announced. Retirement plan participants have been using the platform since late December, Cynthia Loh, general manager of the new platform, told ThinkAdvisor on Monday. “We announced our product in September and spent the quarter building it out,” she said. She added, “Without any formal sales effort, [we] were able to get the set of first 50 charter customers on board. We actually launched the platform with these customers with the first payroll in January. So participants actually got access to their 401(k)s with Betterment in late December.