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Betterment learns 'move fast, break things' has its price after settling SEC compliance charges for $9 million over transparency, disclosure lapses involving tax loss harvesting

The $36-billion New York City robo-advisor has since upped its game by hiring a Merrill Lynch compliance alumnus and a CEO steeped in 'operations.'

Author Oisin Breen April 28, 2023 at 1:52 AM
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Antonia Apps: Betterment … wasn’t transparent about the service’s changes, constraints, and coding errors that adversely impacted thousands.
Brooke Southall and Keith Girard contributed to the editing of this article.


Related Moves

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

Jon Stein ousts himself as Betterment CEO and taps Sarah Levy, who joins an exclusive club of top women executives, with a mission -- an IPO

The co-founder of the New York robo-advisor headhunted the ex-Viacom brass through Harvard professors on the down low to ostensibly scale operations.

December 8, 2020 at 5:27 PM


Mentioned in this article:

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein



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