On February 8, 2022, Betterment LLC announced that it had entered into an agreement to acquire Argonaut Asset Management Inc., d/b/a Makara.
Under the terms of the transaction, Betterment LLC (“Betterment”) will acquire Argonaut Asset Management Inc., d/b/a Makara (“Makara”). Members of the Makara staff will join Betterment. The transaction, subject to customary closing conditions, is expected to close before the end of this quarter. Further terms were not disclosed.
Betterment, based in New York, is an independent registered investment adviser specializing in providing wealth management services on an online platform. As of March 2021, Betterment had approximately $28 billion in assets under management.
Makara, based in New York, is a registered investment adviser specializing in cryptocurrency-based portfolios.
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