Future of Investing, Member Exclusive

Behind Betterment’s partnership with Zenefits to give SMBs access to retirement planning

  • Betterment’s technology led 401(k) provider teamed up with HR software company Zenefits.
  • Zenefits SMB customers will gain access to Betterment’s retirement planning and financial wellness offerings.
close

Email a Friend

Behind Betterment’s partnership with Zenefits to give SMBs access to retirement planning

Last month Betterment’s retirement planning service Betterment 401(k) launched its partnership with HR and payroll firm Zenefits. Under the collaboration, Zenefit’s SMB customers have been given access to Betterment’s retirement plan in addition to a number of employee financial wellness products. 

The offering is available through Zenefit’s marketplace. Betterment will provide Zenefits customers with personalized financial advice, managed accounts and goals-based investing portfolios including socially responsible options. 

“Small businesses and startups make up the backbone of America, and have been faced with countless challenges during the ongoing pandemic,” said Kristen Carlisle, general manager of Betterment 401(k). “We firmly believe that supporting the financial well-being of their employees is vital to help them continue to grow and flourish, and want to make great benefits packages attainable and affordable for everyone.”

When the pandemic first hit, many SMBs had to work tirelessly just to keep the lights on. According to Matthew Eickman, the national retirement practice leader at Qualified Plan Advisors, SMBs that committed to their savings and investment strategies not only managed to stay afloat but also observed significant growth in their retirement accounts. 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “Behind Betterment’s partnership with Zenefits to give SMBs access to retirement planning”

Outlier OpinionsMakers

Green Finance, Member Exclusive

Green Finance Briefing: An intro to environmental sustainability in banking

  • For banks and financial institutions, sustainability initiatives present opportunities as well as risks, according to a new report on the current landscape of environmental sustainability in banking.
  • Sustainability is a business conversation - climate change is bound to create a shift in resources, bringing with it a reallocation of capital away from the status quo.
Iulia Ciutina | September 30, 2022
Blockchain and Crypto, Member Exclusive

Bankchain Briefing: How crypto firm Blockdaemon is bucking the “crypto bro” trend

  • This week, we explore the current state of gender equality in the crypto industry, and what firms in the space need to do in order to counter the long-standing “crypto bro” trend and make way for a more egalitarian future.
  • We also discuss the current state of crypto regulation in the US, and look at how the lack of regulatory clarity is impacting the growth of the industry.
Ismail Umar | September 29, 2022
Member Exclusive, Online Lenders

Lending Briefing: Debit cards are taking over

  • This year, debit cards have emerged as the preferred payment method for the majority of US consumers, dethroning credit cards.
  • Younger generations are behind this switch – even though they're also getting credit cards, Millennials and Gen Zers prefer to pay with debit.
Iulia Ciutina | September 28, 2022
Member Exclusive

Why are regulators cracking down on bank-fintech partnerships?

  • A higher level of regulatory scrutiny is on the way for fintechs and the bank partners on which they rely.
  • Increased regulatory scrutiny could result in a safer and more resilient market to the benefit of consumers, says Brian Graham, partner at Klaros Group.
Lindi Miti | September 27, 2022
Innovation, Member Exclusive

Slack and Salesforce launch industry-specific digital solutions – what’s in it for FIs?

  • Slack and Salesforce have built solutions to help their customers make the most of their digital tools.
  • How will these solutions benefit financial firms?
Sara Khairi | September 26, 2022
More Articles