The online investment site Betterment announced that since its founding in May 2010 it has attracted more than $10 million under management and more than 4,000 users.
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The New York company has also launched a Flexible Auto Deposit tool for selecting an automatic savings plan to transfer funds into a Betterment account for future investment. The company already allowed users to set up monthly deposits, and 25% of its users do so. The new tool allows more control over when deposits are made.
Betterment said it also plans joint accounts, custodial accounts and individual retirement accounts.
