Spitzer identifies a pattern of brokers and traders taking advantage of retail investors, then says, “And underlying this pattern is a simple theme: conflicts of interest that violated the duty the market players had to their supposed clients.” We see this, too.
That’s why we made our fees simple and clear. That’s why we’re aligned with our customers – we charge based on how much money you invest with us (so we make more money when you make more money), not based on how much you trade or what kind of products we recommend for you. And that’s why we recommend only the most broadly accepted, straightforward investment advice.
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Betterment is the largest independent online financial advisor with more than $10 billion in assets under management. The service is designed to help increase customers’ long-term returns and lower taxes for retirement planning, building wealth, and other financial goals. Betterment takes advanced investment strategies and uses technology to deliver them to more than 270,000 customers across its three business lines: direct-to-consumer, Betterment for Advisors, and Betterment for Business. Learn more.
Jon Stein is the CEO and founder of Betterment. Passionate about making life better, and with his experience from his career of advising banks and brokers on risk and products, he founded Betterment in 2008. Jon is a graduate of Harvard University and Columbia Business School, and he holds Series 7, 24, 63, and is a CFA charterholder. His interests lie at the intersection of behavior, psychology, and economics. What excites him most about his work is making everyday activities and products more efficient, accessible, and easy to use.
You can contact Jon via email or follow on Twitter.
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