Robo-advisor Betterment has raised $100 million in new funding, according to a company release.
The news comes as the Department of Labor is preparing to finalize its fiduciary rule, which is expected to have massive ramifications on the small and midsize 401(k) plan market.
The proposed rule's sellers' carve-out would make all advisors to plans with fewer than 100 participants or less than $100 million in assets fiduciaries.
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