Icons & Innovators: Jon Stein, Founder and CEO, Betterment
By Liz Skinner
Jon Stein launched the digital-advice provider Betterment six years ago to offer average investors access to first-rate, affordable financial advice because, in his view, most traditional financial professionals didn’t care about them.
With degrees from Harvard and Columbia Universities, Mr. Stein, 37, has grown the robo-advice platform into a business with $6.2 billion in assets under management. In addition to its work with retail investors, Betterment today has divisions that serve retirement plans and financial advisers.
The firm has seen lots of competitors emerge, the most challenging of which are digital offerings from industry stalwarts like the Vanguard Group Inc. and Charles Schwab & Co. Inc.
But Mr. Stein is holding his own by continuing to innovate in his business, which aims to serve the masses by putting fiduciary advice first.