Betterment is stepping up its efforts to support fee-only financial advisors by enhancing its partnership with XY Planning Network, the turnkey advice and planning platform co-founded by Michael Kitces.
The firm announced Thursday that it is eliminating technology fees for XYPN members who are using Betterment for Advisors, its RIA custody division.
"Betterment and XYPN have been working together for nearly a decade to give independent advisors the tools that they need to launch and scale their advisory practices," Tom Moore, head of Betterment for Advisors, said in a statement.
“We are thrilled to renew our commitment to their network of advisors as we strive to do even more for the RIA community,” he said.
Under the strengthened partnership, XYPN advisors will no longer have to grapple with AUM minimums, and they’ll continue to enjoy an exclusive discount on Betterment's platform fees.
The updated partnership also offers additional benefits for XYPN’s member advisors, including dedicated advisor support, streamlined client onboarding processes, and integration with XYPN's technology stack.
"We are always seeking out ways to help our advisors better run their firms and save money in the process," said Alan Moore, CEO and co-founder of XYPN.
Last month, XYPN announced it had forged a new partnership with Elements, giving its fee-only advisor members special access to the industry-leading financial diagnostics technology offered by Elements.
Earlier this year, Betterment for Advisors upgraded its platform by giving advisors the ability to add mutual funds to their custom portfolios.
There's more to come from the advisor fintech firm this year, as the fintech provider says it is planning many more partnerships and integrations in 2024.
With elder scam losses near $3 billion, 52 groups urge senators to pass H.R. 9500 before a new Congress resets the clock
White House also sends two CFTC commissioner picks to the Senate, marking the first Democrats tapped for either Wall Street regulator under Trump's second term
Record quarterly sales and 450 advisor hires in 18 months signal a wealth management transformation underway at Prudential
From managing embedded gains to diversifying concentrated wealth, NTAM's Ken Lassner examines how technology is making individualized portfolio construction more practical for advisors.
Thrivent Investment Management Inc. in May fired Nicholas Hale, according to his BrokerCheck profile.
Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
