Online Platform Lures Away Vanguard’s Retail Ad Chief
Reported by Tommy Fernandez
The online personal investing platform Betterment (www.Betterment.com), has hired away from Vanguard, Mike Ma, the fund giant’s former head of Retail Advertising and Prospect Marketing. will be responsible for driving Betterment’s customer acquisition strategy and increasing existing customers’ investments.
The personal investing site also hired Daniel Egan, previously a behavioral finance specialist at Barclays to serve as director of behavioral finance and investing.
Here is the press release:
Company Press Release
Betterment Starts 2013 with Record Month; Adds Chief Growth Officer and Director of Behavioral Finance & Investing
Mike Ma and Daniel Egan Join Growing Goal-Based Investing Company
NEW YORK – February 13, 2013 – Betterment (www.Betterment.com), a goal-based online investing platform, today announced that it has hired two key executives to continue to drive the company forward on the heels of its best month of growth to date.
Mike Ma, former Head of Retail Advertising and Prospect Marketing at The Vanguard Group, the world's largest mutual fund company, has been hired to serve as its Chief Growth Officer. Mike will be responsible for driving Betterment’s customer acquisition strategy and increasing existing customers’ investments. Daniel Egan, previously a Behavioral Finance Specialist at Barclays, has joined Betterment to serve as the Director of Behavioral Finance and Investing. Daniel is tasked with the behavioral and investing components of Betterment’s mission, ensuring each client achieves their goals and invests optimally.
Launched in 2010, Betterment has become one of the fastest rising companies in the financial industry. The New York-based company has quietly gained tens-of-thousands of customers, enabling them to invest towards their goals through a personalized, easy-to-use platform. The company currently has over $135,000,000 of assets-under-management and manages more than 40,000 financial goals.
“We’re ecstatic to have Mike and Daniel on board,” said Jon Stein, CEO of Betterment. “Mike’s senior leadership experience will undoubtedly increase our already strong momentum as an emerging player in the personal finance space.” Under Ma’s leadership, Vanguard became one of the advertising and financial services industry's most admired marketers for its success combining ROI-based marketing effectiveness with the best of digital advertising and creative brand campaigns. He was named to Advertising Age's "A-List Marketers for 2012" and was on the list of "Twenty Rising Stars in Financial Marketing" by The Gramercy Institute.
Betterment’s platform is centered on providing personal advice and improving the customer’s financial behavior. “Dan is unquestionably one of the most forward thinking behavioral economists that I’ve met. With his expertise, our customers will undoubtedly get even better behavioral advice to guide their financial lives.”
Following its last major public announcement in October when the company announced its Series B round of funding, Betterment has grown substantially. The company has nearly doubled its AUM and headcount in the last four months. January represented the company’s best month ever, adding over one thousand new customer goals and nearly $30M in AUM.
For more information, please visit www.Betterment.com.
About Betterment
Betterment is a goal-based online investment company delivering smart, personalized financial advice paired with low fees and a superb customer experience. Launched in 2010, Betterment’s automated platform eliminates the typical complexities and time of the traditional investment account, freeing up time for other important things in life. Behavioral guardrails built into the account help users make savvy, rational decisions with their finances.
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