Saturday, December 4, 2021

FAQ: Integration Partners | Betterment

Do you integrate with portfolio management systems?

Yes, we currently integrate with Orion, BlackDiamond, and Addepar. Our integrations with portfolio management systems are at the firm level and include detailed account information for all clients across the firm, such as tax lots and cost basis.

Do you integrate with any CRMs?

Yes, firms using Redtail or Wealthbox CRM software can see Betterment client account information within the CRM interface once you enable the integration.

To enable Redtail integration, please email support@bettermentforadvisors.com with your Redtail username. Once you receive confirmation that the integration is enabled via email, you will be able to see client account information and balances in Redtail. This can take several days.

To enable Wealthbox, first login to Wealthbox.Visit the Applications area, select Betterment For Advisors, choose Enable and click “Request Betterment integration”. Once you receive confirmation that the integration is enabled via email, you will be able to see client account information, balances, recent transactions and tax lots in Wealthbox’s Betterment tab. This can take several days.

Do you integrate with any financial planning tools?

Yes, we currently integrate with RightCapitaleMoney Advisor and MoneyGuidePro. Our integration with RightCapital is at the firm level and at the client-level for eMoney and MoneyGuidePro. Client-level integrations require your clients to link their Betterment accounts using their username and password. Our planning integrations do not include tax lots and cost basis data.

Can my firm access our raw data feed?

Yes, in addition to publishing your firm’s data to our integration partners, we can also provide your firm with the raw files via SFTP. If you would like to receive the raw files please contact us at data@bettermentforadvisors.com*.

How long does it take to enable my data feed?

It can take up to 4-5 business days.

How do I get my data into my portfolio management system?

If your firm uses a system we integrate with, please email support@bettermentforadvisors.com and let us know if you’d like integration enabled. Once the integration is enabled we will email you to confirm. Please note it can take several days for the integration to be completed after your request.

How do clients automatically import their tax information into tax preparation software?

My clients’ tax preparation software has a limit on the number of transactions it supports. How can I use it to report all transactions?

Certain versions of tax preparation software have a limit on the number of transaction lines they support for automatic upload. If clients encounter this scenario and are unable to automatically import tax forms, the IRS allows clients to report the summary information on their electronic tax return and send a paper copy of their statement with Form 8453 to the IRS after the tax return has been accepted. For more information, see www.irs.gov/uac/About-Form-8453. Please note that Betterment is not a tax advisor and the information provided should not be construed as tax advice but should be used for informational purposes only. Please consult a qualified tax professional or the IRS to determine the rules that apply to your individual tax situation.

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