News, Vision & Voice for the Advisory Community


On strength of $1.4 billion of AUM and 90 RIA clients, Betterment raises $60 million of VC funding as it looks to disrupt RIA custody

The New York City-based robo added $1 billion in 11 months and (sources say) has bigtime RIAs contemplating it as a primary platform, CEO Jon Stein says

Author Brooke Southall February 19, 2015 at 2:01 PM
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Jon Stein: Every month is bigger than the last.

Bill Winterberg

Bill Winterberg

February 19, 2015 — 2:30 PM

“How much should I be saving in my IRA versus my 401(k)? Am I saving enough relative to my goals? We want to give that peace of mind in five minutes. That’s not an easy task,” says Stein.

WARNING: financial planning algorithms ahead. Proceed with caution.

Nevertheless, congratulations Jon and the Betterment team and keep doing what you’ve been doing.



February 19, 2015 — 7:23 PM

Congrats to Jon and the Betterment team on a fantastic win for fintech in NYC. I think you have it right Brooke, Motif and Betterment in a few years will be major players in the RIA custody space. More and more they are more of a TAMP than anything. This will open up the market for the Robo 2.0 players:


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Mentioned in this article:

Asset Custodian
Top Executive: Sanjiv Mirchandani

Consulting Firm
Top Executive: Michael Kitces

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein

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