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Direct Investment  + Financial Advisory  + M&As  |  May 20, 2025
Betterment Acquires Rowboat Advisors to Enhance RIA Tech Solutions 
Joe Palmisano
By: Joe Palmisano

Betterment Acquires Rowboat Advisors to Enhance RIA Tech Solutions 

Betterment, a prominent digital investment advisor, has acquired Rowboat Advisors, a portfolio management software provider, to bolster its technology platform and accelerate the development of advanced tools for registered investment advisors (RIAs) through Betterment Advisor Solutions. 

“This marks a significant step forward in our mission to empower advisors with modern, automated investment tools,” said Sarah Levy, CEO of Betterment. “Rowboat brings exceptional talent and cutting-edge technology that will help us unlock new dimensions of tax-aware, customizable investing at scale.” 

Founded in 2016, Rowboat Advisors specializes in portfolio optimization software designed for investors seeking enhanced control, transparency, and tax efficiency. Its solutions will be integrated into Betterment Advisor Solutions, the company’s custodial platform for RIAs, starting in the second half of 2025. 

The acquisition aligns with Betterment’s strategy to expand advisor-focused offerings, following 2025 product launches like Solo 401(k) plans and securities-backed lines of credit (SBLOCs). Advisors can anticipate enhanced portfolio management features in 2025, including expanded single stock support, greater control and transparency tools, and advanced automation and tax management, with direct indexing planned for 2026. 

Post-acquisition, Iraklis Kourtidis, founder & CEO of Rowboat Advisors. will join Betterment’s engineering leadership as VP of Portfolio Management, reporting to CTO John Mileham.  

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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