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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
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The ex-Betterment unit heads up Charles Schwab & Co's. robo-voltage at a critical phase.

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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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

A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 AM

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

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

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Mentioned in this article:

BrightScope, Inc.
Data and ratings for RIAs

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein



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