As the Dow Crashes, Betterment, Wealthfront Users Locked Out of Site, Mobile App


EXCLUSIVE—Users of roboadvisor investment service Betterment who hoped to minimize the damage of the DOW’s crash—1,500 points as of last count—are finding themselves unable to access their portfolios or even make it to the website.

The DOW’s present tumble led many to check on their investments and stocks, but Betterment customers trying to do so are currently unable to access the app, or log into the website. Those that can log into the site are reporting that the robo is lagging to the point of nonresponsiveness.

Users are receiving error messages when attempting to log into the app like the one below:

Website users are receiving messages like this one:

Users of rival roboadvisor service, Wealthfront aren’t having better luck, although the company’s Twitter account is assuring users that they can now log in to their accounts:

Meanwhile, others are flocking to Twitter to express frustration and outrage:

As a roboadvisor, the Betterment brand turns much of its day-to-day services over to automation, which is meant to be both quicker and more secure than dealing with a human broker or financial professional at the other end. However, no one seems particularly pleased with the site’s responsiveness, if those on Twitter are any indication:

Bank Innovation has reached out to Betterment for comment, and will update this story with further developments.

To learn more about roboadvisors, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to request an invitation.

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Grace Noto is Associate Editor of Bank Innovation. She has an MA from the University of Essex, as well as BA in English and a BA in Journalism from SUNY New Paltz. Prior to joining Bank Innovation in the summer of 2016, she worked on Electronic Products Magazine, an online publication surrounding technology and computer engineering, and has worked for other publications, including the Poughkeepsie Journal. She also writes in her spare time, and really needs more hobbies.

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