The Forbes Fintech 50 for 2018
By Janet Novack
Betterment, New York City
Robo-advisor manages ETF portfolios geared to investors’ goals and risk tolerance for 0.25% of assets a year. New 0.40% premium service, available to those with $100,000 or more invested, offers access to human advisors via phone, email and text. Now offers a socially responsible investing portfolio.
Bona fides: Largest independent robo, managing $13 billion plus for 300,000 customers.
Founder & CEO: Jon Stein, 38
Funding: $275 million from Anthemis Group, Bessemer Venture Partners, Citi Ventures, Northwestern Mutual. Latest valuation: $800 million
Threat to: Financial advisors, other robo advisors