Robo Adviser Betterment Using Charity Giving to Entice
Betterment, the largest independent electronic advisory firm with $11.6 billion in assets under management, is launching a new feature that will enable its 300,000 customers to donate shares from their portfolios to certain charities. With the automated program, users can increase their tax savings by avoiding capital gains levies and getting a deduction at the same time.
“This is something we’ve been thinking about doing for a couple of years,” Alex Benke, the firm’s head of financial advice and planning, said in an interview. “It’s becoming even more important from a tax perspective since markets are so high.”