Betterment CEO: Robo Advisors Prevent Errors
By Cinthia Murphy
It’s increasingly evident that retirement-age and near-retirement investors are also jumping onto this bandwagon, Jon Stein, CEO of Betterment, told us in an interview. According to him, they too want low-cost simple solutions to ensuring that they will have enough money through retirement. And why shouldn’t they? As Stein points out, automation helps protect investors from giving in to their emotions and making mistakes that can cost them serious money.
Betterment should know it. A pioneer in the space, having launched in 2010, it now boasts north of $700 million in assets under management. The firm, which has been expanding by roughly fivefold a year, only sees the pace of this growth picking up steam ahead.