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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

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

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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 – 5:25 PM

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 – 10:33 PM

Oisín's snippets: Charles Schwab brand goes up on Omaha's TD Ameritrade stadium, home of college baseball world series • Interactive Brokers lands an RIA custody insider, Charlie Latimer, to climb the custodian ladder

The TDA brand lives on until the techies figure out how to make two systems into one, but change is in the air in Omaha, while Interactive Brokers gets a leg up in the custody business with a new hire.

December 27, 2021 – 9:58 PM

Fidelity Investments is paying 2,000 employees to hasten their corporate exits, including high-profile RIA overseer, Sanjiv Mirchandani, as part of its shift to a digital future

The Boston giant offered voluntary buyout packages and the 4% of staff who accepted will leave by June 30 to give other staff room to grow careers and make room for hires.

June 24, 2021 – 5:39 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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