Personal Finance · head to head
Simplifi vs Betterment
The short version
- Each has a real cost: Simplifi there is no free tier at all; Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance
- They diverge on capability: Simplifi covers Budget tracking, Betterment covers Automated investing.
Where they differ
Only the attributes on which Simplifi and Betterment actually diverge.
| Attribute | Simplifi | Betterment |
|---|---|---|
| Starting price | On request | $5/month |
| Founded | 2020 | 2008 |
Identical on both: pricing model (subscription), free tier (No), platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Simplifi
- Budget tracking
- Spending analysis
- Cash flow insights
- Credit cards
Only in Betterment
- Automated investing
- Retirement planning
- Financial advisory
- Investment accounts
Both cover
- Goal tracking
- Bank accounts
- Web support
- IOS support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Simplifi
- Personal budgeting with automatic bank transaction importnot Betterment
- Tracking spending, savings goals and net worth in one placenot Betterment
Betterment
- Small investors starting with automated investing at no minimum balancenot Simplifi
- Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot Simplifi
- Premium advisory access for high-net-worth individuals with $100,000+ balancenot Simplifi
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Simplifi
- There is no free tier at all
- The advertised $3.99 a month requires annual billing, against $6.99 paying monthly
- The subscription auto renews yearly at the then current price, which the terms state is subject to change rather than fixed
Betterment
- Digital automated investing charges $5 per month fee for accounts under $24,000 balance
- Premium advisory service requires minimum balance of $100,000 in eligible investments
- Foreign transaction fees apply to checking account (though reimbursed after the fact)
- High-balance fee discounts only available above $1,000,000 account balance
Pricing, plan by plan
Simplifi
On request- Monthly$5.99/month
- Budget tracking
- Spending insights
- Goal setting
- Annual$59.99/month
- All monthly features
- Discounted rate
Betterment
$5/monthNo published plan breakdown. See the Betterment review.
Which should you pick?
Choose Simplifi if
- You need budget tracking.
- You work on Web, IOS, Android.
- You also want spending analysis.
Choose Betterment if
- You need automated investing.
- You work on Web, iOS, Android.
- You also want retirement planning.
Questions people ask
- Is Simplifi or Betterment better?
- Neither clearly leads. Simplifi starts at On request and Betterment at $5/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Simplifi or Betterment?
- Simplifi starts at On request and Betterment at $5/month.
- Does Simplifi or Betterment run on more platforms?
- Simplifi runs on Web, IOS, Android. Betterment runs on Web, iOS, Android.
- What is Simplifi best used for?
- Simplifi is most often used for personal budgeting with automatic bank transaction import, tracking spending, savings goals and net worth in one place. Of those, personal budgeting with automatic bank transaction import and tracking spending, savings goals and net worth in one place are not what Betterment is typically brought in for.
- What can Simplifi do that Betterment cannot?
- Simplifi covers Budget tracking, Spending analysis, Cash flow insights, Credit cards. Betterment covers Automated investing, Retirement planning, Financial advisory, Investment accounts. Both handle Goal tracking, Bank accounts, Web support, IOS support.