RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Betterment reboots its RIA business big-time with new chief, ACATS for ETFs and the ability to fold existing holdings into robo portfolios

Cara Reisman absorbs duties of Tom Kimberley -- then gets to work making the New York robo-custodian more like classic RIA custodians

Author Brooke Southall March 29, 2018 at 12:06 AM
4 Comments
no description available
Cara Reisman: We want to meet as many needs as possible while still being easy to use.

RIA Custodians

|

Robo-Advisors


Jeff Spears

Jeff Spears

March 29, 2018 — 8:02 PM
While Betterment may be behind on the technology front I believe they will catch-up fast based of their new leadership who is listening to the end client rather than listening to the software engineers and Tech VCs.
ANI D. CHITALEY

ANI D. CHITALEY

March 29, 2018 — 9:08 PM
Simply automating old rules-of-thumb to the hilt can only make things faster, less expensive, but not necessarily better. The industry has serious lack of know-how of the latest, advanced methods of portfolio management. And poor investors are getting hurt seriously.
About time

About time

May 31, 2018 — 4:03 AM
They began talking about some of these services about two years ago, with half their company being engineers I can't imagine it took that long. Maybe if they spent less time "Advisor Network" and the human advisor experiment, they could have put this out sooner. Or maybe the issue was that Mr. Stein consolidated power by firing two C-level employees along half of the upper management team while the turnover of the engineering department began to sky rocket. Who's to say, really.
Josh W Oliver-EVP

Josh W Oliver-EVP

June 1, 2018 — 7:11 AM
I can think of endless opportunity, but I can also see potential trouble. For now I would like to ecco Ani Chitaley’s concerns. There is a lot here and to be honest, it would be a treat to speak with one of the heads. I would enjoy the opportunity to clarify a few things and work with someone that can help me determine if this would be a solid match for my own practice. I am purposely holding back on making any strong comments, as I do not feel 100% informed. 98% of my thoughts are screaming opportunity. I am aware this post adds little value. It is my wish that it is read by someone that would welcome a phone conversation. One thing I will say is I do not have a negative thought in my mind ever. I don’t allow room for that. That said I never post anything negative so my opinion is that if all this is coupled with CAUTION the sky is not the limit, as I feel this will prove to be without limits and extraordinary. I would love to be a part of this accelerated process. Please be well everyone. Josh

Related Moves

December 8, 2020 at 5:27 PM

Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer

Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.

June 29, 2024 at 3:00 AM

Second Betterment exec departs as new CEO Sarah Levy orients to her first month on the job and is confronted by personnel matters

Chief operating officer Dustin Lucien is the latest to leave the New York City robo-advisor, one of at least eight positions open as it prepares a push across multiple business lines to ignite growth.

January 19, 2021 at 6:32 PM

Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say

The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.

December 31, 2020 at 4:37 AM


Mentioned in this article:

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein

Upside
TAMP
Top Executive: Tom Kimberly



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings


Common Tags


Recent Articles


Popular Writers


RIABiz logo

RIABiz

About Us

Directory

Archives

Connect

RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.