Every investment involves risk. But that risk should be based on the market, not on your broker. That's why we will protect both your better account and your investment with your better security measures. This is sampling.
Keep your excellent accounts safe in 4 ways
Two-factor authentication
Two-factor authentication (2FA) adds an additional layer of security to your account, like an extra lock on the door. In addition to regular passwords, 2FA requires second form of verification, such as codes that are texted to your phone (good) or codes provided by authentication apps like Google Authenticator (even more secure). This will help ensure that even if someone can get your better password, you won't be able to access your account without second form of verification.
Encryption
Whether it's our website or our app, your data is protected by an encrypted connection every time you interact with us. This means that the information sent between the device and the server is scrambled in a way that only we can understand.
Password hash
When you create a password for your Betterment account, it will not be saved in plain text. Instead, it uses a process called hash to convert the password into a unique string. This will ensure that, even if the system is compromised, the actual password is unknown and cannot be used by an unauthorized party.
App password
Connecting a third-party app to your Betterment account (or vice versa) unlocks some benefits. For example, you can easily track your net worth with Betterment. Alternatively, quickly import the improvement tax form into specific tax preparation software.
If a third-party app asks for better credentials instead of using a better login, then asks you to create a password specifically for that app. In a scenario, you can easily revoke read-only access to your Betterment account because the connections of third-party apps are compromised.
Please note that some apps may use the OAUTH standard. This allows you to use your regular login while maintaining a level of security similar to your app's password. Turbotax is one such example.
Four Ways to Keep Your Investment Safe
A simple verification of your holdings
Transparency is one of our key principles, so it's easy to make sure everything is in the right place. We not only show each transaction that has been made on your behalf and the exact number of shares you are investing in, but also list each share sold and each of their respective total revenue and cost base. Masu. All this information can be found in the Hold and Activities tab for each target.
Independent surveillance
We are regularly reviewed by independent auditors. This means that the auditor adjusts all the dollars we say we have against all the stocks and actual holdings. It also checks random customer accounts to ensure that the account statement matches the internal record. And they ask if something is even a penny.
There is no mix of funds
Your funds will be held separately from Betterment's operating funds. This means that your investment will be held in your name and will never mix with our finances. With an unlikely event, your assets will remain safe and untouched as you face financial difficulties.
SIPC Insurance
To add another layer of protection, your excellent securities are insured by the Securities Investor Protection Corporation (SIPC). The insurance covers up to $500,000 per customer, including a $250,000 limit for cash claims. SIPC does not protect against market losses, but provides a safety net in the event of a brokerage's failure. Explanatory brochures are available at sipc.org.
How can you help
Ultimately, the most important security measure is you. Looking for suspicious calls, texts, emails (such as odd URLs, messages covered in typos, etc.) and knows it Betterment will not ask for your password or 2FA code except when logging in or editing personal information within the app. Use a strong and unique password for your account. If you suspect a fraud message and need to confirm that we have reached out, please do not hesitate to contact us directly. We have your back, and between the two of us, we can keep the bad actors at bay.
