(Reuters) - Betterment LLC, an automated financial adviser, suspended all trading on Friday morning as Britain's vote to quit the European Union sent a shock wave through global financial markets, The Wall Street Journal reported.
Clients were not aware of the halt, which ran from the market's 9:30 a.m. open until noon, the Journal said.
The company, which manages $4.8 billion, took the step to protect investors from paying the higher transaction costs associated with buying and selling securities during times of extreme market volatility, the WSJ said.
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Betterment was not immediately available for comment.
Wall Street suffered its largest sell-off in 10 months on Friday after Britain's decision to leave the European Union caught traders wrong-footed.
(Reporting by Anya George Tharakan in Bengaluru; Editing by Leslie Adler)