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Articles tagged "Betterment"


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Jessie Proudman: We’re building the right product for long-term investors as opposed to traders.

Betterment reveals that it now owns Seattle crypto firm and that it will be a 'centerpiece,' yet the deal timing means it could be a 'big blunder,' Morningstar analyst says

The New York City robo-advisor closed Makara deal in March, skipped any PR, and will Betterment-ize it for Summer launch; never mind the collapse of the token market

May 24, 2022 at 2:33 AM

Mike Reust: It is the intent to sunset the brand in the future.

Betterment's new CEO spices up baked potato robo menu with self-directed crypto allocations; one guru calls it a 'square peg' in round hole, but Morningstar analyst sees 'leapfrog' potential

New York City robo-advisor CEO Sarah Levy bought 'Makara' after 90% demand it; they can choose crypto for 100% of portfolios but must pay a fee of 100 basis points.

February 15, 2022 at 2:39 AM

Stephanie Guild: We’re proud to help people build wealth for the long term.

As Charles Schwab Corp. shares soar and Robinhood's crater, the mobile-first brokerage makes seminal move past its ‘casino' model and sells 'fiduciary' portfolios

Just days after the Menlo Park, Calif., firm nabbed ex-TDA star Steve Quirk to call shots, Robinhood announced it'll sell automated portfolio management and the fantasy of beating market.

January 15, 2022 at 3:11 AM

Sarah Levy has already generated enough fresh momentum at Betterment that fresh capital has followed.

Betterment is ready to burn cash like its 2008 all over again with 2008 co-founder Eli Broverman leading a $60-million VC round to execute the plan he was credited with creating

The 13-year-old New York City startup is one year into a rebirth under new CEO Sarah Levy who is hiring like crazy and plans to invest aggressively in both B2B units -- for 401(k) and RIA custody.

September 30, 2021 at 1:42 AM

Sarah Levy: We continue to ramp up our investment in the RIA business.

After promising to make RIAs job one, new Betterment CEO puts trust in RIA brands --and knocks off XYPN-- to create an Envestnet-lite outsourcer for start-up shops and breakaways

Betterment is using four software and services vendors and discounts up to $3,100 per RIA per year after getting the idea from one of its largest customers

June 23, 2021 at 9:31 PM

Sarah Levy has changed distribution at Betterment and ramped up the 401(k) program

Betterment's net new clients jump 116%, in step with Sarah Levy's first few months at the helm, as burgeoning stock prices and Robinhood spillover lift the company Q1 results

Novice investors leave play money at the Silicon Valley broker but learn to value IRAs, portfolio management and tax help.

April 22, 2021 at 2:56 AM

Natalie Wolfsen: 'Absolutely, Assetmark is evolving.'

Natalie Wolfsen's sudden ascent as AssetMark CEO marks a whole new 'liberated' RIA vibe and could be a catalyst to fill service void left by custodian cutbacks

Put in place by AssetMark's new high-powered chairwoman, the Charles Goldman protégé sees a way to take on Envestnet and Schwab after demoting MoneyGuidePro and closing the biggest deal in her company's history

March 11, 2021 at 2:41 AM

Omer Ismail has swapped a position as Goldman's retail banking chief, to lead Walmart's financial technology venture.

Walmart gets fintech jump on Amazon but headwinds imperil pricey launch of new venture, even with Robinhood VC backer and top Goldman talent on board

The Bentonville, Ark.-based big-box retailer is likely bidding to become a bank, again. It also just trashed Goldman Sachs robo-bank, Marcus, by nabbing two top executives.

March 8, 2021 at 11:04 PM

Sarah Levy: I see more potential now than when I first arrived at Betterment.

Knocking down a 'wall,' Betterment will make RIA custody its 'biggest business' as Schwab/TDA merger opens door and robo-advice glut deepens

Charles Schwab undercut the New York City robo-advisor on price, but now Betterment, under new CEO Sarah Levy, can return the favor by chipping off some of Schwab's $3 trillion in RIA assets.

February 17, 2021 at 3:44 AM

Sarah Levy: 'It's about building on an awesome foundation to go public.'

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

[Sarah Levy and] Jon Stein: 'The time has come for someone else to lead the company through its next stage of growth.'

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

Boris Khentov: This is 100% a strategic move that is executed via very careful iterative tactics.

Betterment goes 'strategic' with ESG after stunning 2020 inflows and fortuitous 'accident,' stumbling on Rockefeller subsidy of NAACP play

Shunning direct indexing, yet set to get 'very creative,' the $24-billion New York City robo-advisor is data-assured that it can backfill its brand's implicit promise.

October 23, 2020 at 3:12 AM

Vanguard Group is a bricks, mortar and people company that just introduced a retail robo-advisor that lives on a server and may do a better job.

Ten months after it signaled it would, Vanguard Group unleashes its advice robot with analysts sure that 15 basis points and no-nonsense brand will net billions in no time

Almost out of its pilot stage, the Malvern, Pa.-based giant's 'Digital Advisor' shambles onto the robo scene almost a decade late but may catch Schwab and Betterment anyway with its pristine plainness, analysts predict

August 1, 2020 at 6:22 PM

Jon Stein: Personalized portfolios with specific stocks for specific clients that still track an index -- that’s clearly where things are trending

With Schwab in Motif mode, Jon Stein tells Bloomberg Betterment's ETF view is shifting, talks 'revolution,' but declines through spokesman to confirm any imminent shift to direct indexing

The New York robo's CEO pulls no punches in a Q&A about the impersonal nature of exchange traded funds, but observers say Charles Schwab & Co. may have forced his hand toward an accelerated direct indexing timetable.

July 21, 2020 at 11:16 PM

Advisor Patrick Ortman broke the silence about lack of black advisors in financial services

How an RIA's tweets pointed out the obvious--the lack of diversity in the mostly white RIA industry-- and opened the door to a dialogue on creating more minority opportunity

Patrick Ortman, a solo RIA who grew up among Black siblings, set out to congratulate RIA firms with diverse staffs, but a simple search found just the opposite.

June 25, 2020 at 1:51 AM

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