[zeroer]

I stand corrected. I thought they had their own mutual funds that they charge an expense ratio on, but I took a closer look at their site and it looks like they put you in third-party mutual funds from e.g. Vanguard and iShares. Since this is the case, you can just do a transfer-in-kind to another brokerage if you want to leave, and this is not a taxable event. (Sorry for my mistake!)

[sf_rob]

Looking further, they don't support outgoing ACATS (what most brokerages do), but do support DTC which I'm not at all familiar with[1]. So hopefully you could do Betterment until the TLH stopped being worthwhile and do a direct security transfer to another brokerage.

Although Betterment offers fractional shares, which is confusing, not sure if they're actually ETNs representing fractional ownership of ETFs. I don't know how that works legally.

[1] http://support.bettermentforadvisors.com/customer/portal/art...