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Philly Inquirer

Popular ‘robo-advisor’ Betterment picks Philly for its first office outside New York; to hire 20 by end of 2019

By Erin Arvedlund

Betterment, a digital wealth manager popular among millennials, has picked Philadelphia for the first office outside its New York home base.

The company, which manages $15 billion in assets, plans to open a Philadelphia office as soon as February, according to founder Jon Stein. Betterment is looking for office space in Center City, with the intent of adding 20 employees in its computer and engineering departments by the end of 2019.

Besides Philly’s popularity with millennials, the so-called robo-adviser — which gives digital financial advice based on set questions and algorithms — wanted to diversify geographically to attract talent and augment its team in a city with a lower cost of living.

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This article originally published January 30th, 2019 on Philly Inquirer

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