Updated 2026-03-20

Lincoln Financial vs Betterment 401(k) Comparison

Compare Lincoln Financial (#17, 6.9/10) and Betterment at Work (#20, 6.7/10) side by side across fees, ratings, features, and investment options.

Overall Comparison

FeatureLincoln FinancialBetterment
Overall Score6.9/106.7/10
Rank#17#20
AUM$350 billion$45 billion
Participants8 million400,000
Plan Sponsors10,000+1,500+
Founded19052010

Ratings Comparison

CategoryLincoln FinancialBetterment
Fees & Costs3.3/54.0/5
Investment Options3.8/53.2/5
Customer Service3.9/54.0/5
Mobile App3.4/54.4/5

Fee Comparison

Fee TypeLincoln FinancialBetterment
Admin FeesVaries by plan size$150/month + $6/employee
Expense Ratios0.10% - 1.5%0.03% - 0.15%
Trading FeesPlan dependent$0
Advisory Fees0.40% - 1.0%Included in platform fee

Lincoln Financial Strengths

Betterment Strengths

Rollover, Loans & Withdrawals

FeatureLincoln FinancialBetterment
Rollover PlatformLincoln Financial PortalBetterment App
Loans AvailableYesNo
Withdrawal MethodsOnline via Lincoln Financial portal, Phone (800-454-6265), Through plan administratorOnline via Betterment app, Email support
Distribution OptionsLump sum, Partial withdrawal, Annuity conversion, Installment payments, Rollover to IRA, Required Minimum DistributionsLump sum, Partial withdrawal, Rollover to IRA, Required Minimum Distributions

Which Should You Choose?

Choose Lincoln Financial if you want:

  • Companies wanting guaranteed income options
  • Insurance-focused employers
  • Mid-size to large plans
  • Annuity seekers

Choose Betterment if you want:

  • Tech companies
  • Startups
  • Hands-off investors
  • ESG-conscious employers

Our Verdict: Lincoln Financial vs Betterment

Lincoln Financial wins this comparison with a score of 6.9/10 vs 6.7/10. Lincoln Financial excels with strong guaranteed income and annuity options, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.

Full Lincoln Financial Review Full Betterment Review

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Lincoln Financial vs Betterment: Complete 401(k) Comparison for 2026

Choosing between Lincoln Financial and Betterment at Work for your 401(k) is an important decision that affects your retirement savings. Lincoln Financial offers top 10 recordkeeper while Betterment is known for robo-advisor. In terms of fees, Lincoln Financial charges 0.10% - 1.5% expense ratios compared to Betterment's 0.03% - 0.15%. Lincoln Financial manages $350 billion in assets and serves 8 million participants, while Betterment has $45 billion AUM and 400,000 participants.

Key Differences: Lincoln Financial vs Betterment

When comparing Lincoln Financial and Betterment, consider their core strengths: Lincoln Financial excels with strong guaranteed income and annuity options, while Betterment stands out for fully automated portfolio management. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Lincoln Financial's customer service rating is 3.9/5 compared to Betterment's 4.0/5. For mobile experience, Lincoln Financial scores 3.4/5 while Betterment scores 4.4/5.

Which Provider is Right for You?

Choose Lincoln Financial if you prioritize companies wanting guaranteed income options. Choose Betterment if you're looking for tech companies. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Lincoln Financial and Betterment provider pages.

Frequently Asked Questions

Lincoln Financial scores higher in our 2026 rankings with 6.9/10. Lincoln Financial is best for companies wanting guaranteed income options, while Betterment is best for tech companies. The right choice depends on your employer's plan and your priorities.

Lincoln Financial charges expense ratios of 0.10% - 1.5% with admin fees of Varies by plan size. Betterment charges 0.03% - 0.15% expense ratios with admin fees of $150/month + $6/employee. Lincoln Financial's fees rating is 3.3/5 compared to Betterment's 4.0/5.

Yes, you can roll over between Lincoln Financial and Betterment. Lincoln Financial uses Lincoln Financial Portal for rollovers, while Betterment uses Betterment App. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.

Lincoln Financial offers 401(k) loans. Betterment does not offer 401(k) loans.

Lincoln Financial scores 3.8/5 for investment options, while Betterment scores 3.2/5. Both offer target-date funds, index funds, and managed accounts. Lincoln Financial's investment options include Mutual Funds, Target Date Funds, Fixed Annuities. Betterment offers ETF Portfolios, Target Date Portfolios, Socially Responsible Portfolios.

For small businesses, consider plan minimums and per-participant costs. Lincoln Financial is best for companies wanting guaranteed income options, insurance-focused employers, mid-size to large plans, annuity seekers. Betterment is best for tech companies, startups, hands-off investors, esg-conscious employers. Compare admin fees: Lincoln Financial charges Varies by plan size vs Betterment's $150/month + $6/employee.

Pavlo Pyskunov

Pavlo Pyskunov

Managing Director & Investment Fund Director

Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.

Last updated: 2026-03-20