Robo-Advisor reached $5 billion in assets under management
Betterment Becomes First Independent Robo-Advisor to Surpass $5B of Assets Under Management
Company Also Welcomes Amy Shapero as Chief Financial Officer
Betterment announced that it is the first independent robo-advisor to reach $5 billion in assets under management. The company now helps more than 175,000 customers intelligently manage and grow their wealth.
Betterment is also announcing today that Amy Shapero has joined the company as Chief Financial Officer. Shapero brings extensive financial, strategic, and operating experience with emerging growth and Fortune 500 companies.
Prior to joining Betterment, Shapero was Chief Financial Officer at Sailthru, which provides personalized marketing communication technology. Prior to joining Sailthru, Shapero was Senior Vice President, overseeing corporate strategy, M&A, and communications at DigitalGlobe, a big data and analytics company. Prior to DigitalGlobe, Shapero served as Chief Financial Officer of Spot Trading, a financial technology company. Prior to Spot Trading, Shapero was the Chief Financial Officer of Standard & Poor’s, a business unit of The McGraw Hills Companies.
“We’ve seen tremendous growth,” said Jon Stein, Founder and CEO of Betterment. “In the past 18 months, we’ve grown from $1 billion of assets to more than $5 billion. This kind of growth is the reason why we’re attracting top talent like Amy. Amy’s deep financial and strategic experience will be a valuable asset to the company.”
“Betterment presented a unique opportunity that was extremely appealing,” Shapero said. “The company has built an impressive platform that serves more than 175,000 retail customers and hundreds of companies through its fast-growing advisory and 401(k) business lines. I’m excited to help the company grow and guide it to becoming a firm that serves millions of customers.”
Betterment offers its customers a globally diversified portfolio of index-tracking exchange-traded funds (ETFs) with personalized advice in a goal-based investing framework. Customers can open and customize regular investment accounts, traditional/SEP/Roth IRAs, trust accounts, and accounts for retirement income. Betterment also has expanded its platform to serve the RIA and 401(k) markets. For more information, please visit www.Betterment.com.
Betterment is the largest independent robo-advisor, helping people to intelligently manage and grow their wealth through smarter technology. With more than 175,000 customers and over $5 billion in assets under management, the service offers a globally diversified portfolio of ETFs, designed to help provide you with the higher expected returns for retirement planning, building wealth, and other savings goals. Betterment also helps customers get on track for a comfortable retirement with RetireGuide™, a retirement planning tool that lets people know how much they should save and if they are investing correctly. Betterment was a CNBC Disruptor 50, FT 300 and Webby award winner, and it has been featured in the New York Times, Forbes, and the Wall Street Journal. Betterment helps people work to achieve a smarter financial future with minimal effort and for a fraction of the cost of traditional financial services.
Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Determination of largest independent robo-advisor reflects Betterment LLC’s distinction of having highest number of assets under management, based on Betterment’s review of assets self-reported in the SEC’s Form ADV, across Betterment’s survey of independent robo-advisor investing services as of July 11, 2016. As used here, “independent” means that a robo-advisor has no affiliation with the financial products it recommends to its clients.
Source: PRNews – Betterment Becomes First Independent Robo-Advisor to Surpass $5B of Assets Under Management
