Why a new Betterment chief could usher in an IPO
Founder Jon Stein wasn’t able to achieve his ultimate goal of an initial public offering, but he transformed the little-known New York-based fintech into a digital behemoth
December 18, 2020 2 MINS
The departure of Betterment founder and CEO Jon Stein, after a decade at the reins of the industry’s leading independent robo-adviser, was certainly surprising and a bit bittersweet.
Stein wasn’t able to achieve his ultimate goal of an initial public offering, but he transformed the little-known New York-based fintech he started on the heels of the Great Recession in 2010 into a digital behemoth with more than $25 billion in managed assets and more than 550,000 customer accounts, according to the company.