When Betterment recently rolled out the first robo-advisory platform for 401(k) sponsors and participants, CEO and co-founder Jon Stein fired several shots across the bow of the 401(k) industry's largest service providers, and its cadre of independent RIA fiduciaries.
"We think what we've built is how all retirement plans should work, and someday will," Stein told BenefitsPro.
He also said the advice offered through Betterment's automated platform, which is modeled on the low-cost ETF offerings already marketed to retail investors, will deliver an extent of "holistic" retirement guidance that participants "very rarely" get under the existing RIA model.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
