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How this startup is taking on Wall St

Two of three floors in a building in Chelsea, Manhattan, there are standing desks, dogs, and cold brew on tap. This is Betterment HQ, the home of the startup that is taking on the Wall Street old guard. They are also my technology partner, back-office, and custodian for clients' assets. I was fortunate to attend the advisor conference last week, meet the team, and learn how they are helping our clients and plans for the future.

They have made big strides in streamlining complex investment transactions, reducing client costs, and adding tax mitigation strategies for clients. Using behavioral finance, they are keen to keep clients from making grave investment errors, such as selling assets during a short-term correction, by using specific colors that create an emotional response and by showing the tax consequences of a transaction before it happens. They are software engineers, quantitative analysts, and behavioral finance experts and they all take part in executing investments solutions for my clients.

Traditional financial services have been playing catch-up when it comes to leveraging technology to improve the lives of investors. It took a start-up, Betterment, to fill a void in the marketplace that demands automation of trading complex transactions, like rebalancing after a 3% drift from the initial asset allocation, and tax-loss harvesting, where investors can benefit from a tax-break after a drop in the market.

Betterment is among a few technology firms that will change the way investors take risks and manage money. This will further push away the old-guard of Wall St from the FinTech revolution forcing them to compete in a world where technology will outperform traditional methodologies.

Eureka Wealth Management uses Betterment to custody client assets and perform complex transactions, such as tax-loss harvesting, to improve performance for my clients. I also provide financial planning and tax & estate strategies. Call for a free, initial consultation at (760) 537-0791 or book a meeting online at eurekawealthmanagement.com.

​Mail: ​8605 Santa Monica Blvd, pmb 35721

West Hollywood, California 90069-4109 US


(760) 537-0791


Eureka Wealth Management is a registered investment adviser in the State of California. The adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment advisory services. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.