Articles tagged "Betterment"
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.'
April 28, 2023 at 1:52 AM
RIAs seek FDIC shelter for client cash in droves after Silicon Valley Bank meltdown with Betterment raising limit by $1 million
Firms are promising clients insurance on multi-million-dollar accounts, but banks face their own risk because brokered deposits aren't 'sticky,' expert says
March 24, 2023 at 4:58 AM
Sarah Levy makes second unpopular decision at Betterment in two months after showing forbearance her first two years as CEO
The Betterment executive raised prices last month, and she's cutting staff this month to buy time to execute the robo-advisor's strategic pivot to RIA servicing.
February 17, 2023 at 4:25 PM
Wealthfront pounces after Betterment jacks up prices on small investors, but Betterment claims last laugh -- 'thousands' of new customers, it says
The New York City robo-advisor imposes the charge so low balance accounts pay 'fair share,' prompting Wealthfront's CEO to say his rival is 'penalizing' those investors.
January 10, 2023 at 1:40 AM
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
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
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
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
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
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'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
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
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
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.