Robo Adviser Betterment Pitches for Client Cash by Offering Traditional Banking

www.wsj.com

Everyone is getting into the cash game. Betterment, an early provider of digital-investing services, is introducing new banking products at a time when anxiety over slowing economic growth has led some investors to reduce market exposure and stockpile cash. Offering a market leading 2.69% annual rate on savings, they join Marcus, Wealthfront and a slew of other financial technology companies looking to attract deposits by directly attacking the meager rates offered by traditional banks.

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