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Exploding to near $24 billion* of assets under automation, Schwab creates robo-exec slot and fills it with ex-Betterment unit chief

Cynthia Loh puts fresh face on Schwab Intelligent Portfolios and Schwab Intelligent Advisory as Betterment puts out a help wanted sign

Author Lisa Shidler
October 3, 2017 at 7:58 PM
Admin:
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The ex-Betterment unit heads up Charles Schwab & Co's. robo-voltage at a critical phase.

Related Moves

Mike Alfred scores headhunt coup by hiring brother, Ryan -- and, oh yeah, he raised $6 million

The co-founder and CEO of Digital Assets Data not only got his ace sibling but co-founder Kurt Fenstermacher, ex-Bridgewater, took over as COO changing the trajectory of the startup

April 30, 2019 at 5:25 PM

Another RIA whisperer, Julian Lopez, has left Schwab Advisor Services after 24 years to join LPL, which he sees as more advisor-focused and 'entrepreneurial'

The Houston executive, like Kelly Smith in Chicago, was considered a key service talent for RIAs though Lopez says his circumstances differ.

February 23, 2023 at 8:14 AM

Biz Briefs: Schwab puts checks for $52 million in mail to robo-RIA customers allegedly misled about cash allocations • BlackRock blacklisted (again) • iShares beats NZAM-exiter Vanguard • Fidelity makes first acquisition in eight years • CFP board realizes Moms don't like CFPs

BlackRock gets Kentucky coal in stocking, and Vanguard keeps skating; iShares inches above -- by 2.8% -- Vanguard's annual net new ETF asset haul; Fidelity takes "natural next step" for stock plan business; new CFP chair outlines plans and the DOJ is set to become a major Robinhood shareholder..

January 13, 2023 at 3:01 AM

Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'

January 6, 2022 at 10:33 PM

See more related moves

Mentioned in this article:

BrightScope, Inc.
Data and ratings for RIAs

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein




Tom Zgainer

Tom Zgainer

October 9, 2017 — 10:43 PM
Be it startup plans or those with $30 million in existing assets, and everything in between we add each month, 401k participants have shown little interest in a robo only 401k (i.e.) pure technology play, versus the blend of personalization and technology we offer at America's Best 401k. While a participant can choose their own investments across all devices, we have found that giving access on demand via a 1-1 interaction with our advisor team is exactly what they want. Not just technology, and certainly not Joe the broker herding people into a room twice a year handing out stacks of paper...and donuts of course. Advisors themselves, primarily those with just a handful of 401k clients are going to be hard pressed to offer a competitive solution without this combination.

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