Betterment Partners with Capitalize on 401(k) Rollovers

Betterment announced a new partnership to help Betterment customers find and consolidate retirement savings accounts.

Through the partnership, Betterment will integrate Capitalize’s Embedded Rollover API feature directly into its platform, allowing Betterment customers to digitally locate and transfer employer-sponsored retirement accounts, such as 401(k)s, into individual retirement accounts (IRAs) at Betterment.

“At Betterment, our mission is to empower people to build wealth with confidence and ease, and retirement plays a critical role in that journey,” said Mike Reust, president at Betterment. “Account rollovers are an important moment for investors, yet the process has remained unnecessarily complex for far too long. We’re excited to partner with Capitalize to help our customers consolidate their 401(k)s in a more modern, intuitive way, so they can stay focused on their long-term goals.”

“We’re excited to partner with Betterment, a company that has consistently raised the bar for thoughtful, goal-based investing and building wealth,” said Gaurav Sharma, CEO and co-founder of Capitalize. “Together, we’re addressing one of the biggest gaps in the retirement savings market by ensuring people make the most of their hard-earned 401(k) savings by consolidating them effectively. This partnership reflects a shared commitment to helping Americans grow their wealth using innovative investing and leading technology.”

This offering will be available to Betterment’s retail customers in the coming weeks.