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Warren Buffett’s advice ‘doesn’t work anymore,’ robo-advisor CEO says

By Tom Anderson

Warren Buffett’s advice for ordinary investors is simple: Invest your retirement portfolio in an S&P 500 index fund.

However, at least one financial advisor thinks the Oracle of Omaha is off base.

That strategy “doesn’t work anymore. It’s not actually making the most of your money. You can do a lot better than that,” Jon Stein, CEO and founder of Betterment, a robo-advisor with more than $8 billion of assets under management, said in a recent CNBC “On The Money” interview.

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This article originally published March 5th, 2017 on CNBC