Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Stein Opens Betterment's Doors to Two More Asset Managers Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 13, 2017

Stein Opens Betterment's Doors to Two More Asset Managers

Reported by Neil Anderson, Managing Editor

The largest independent roboadvisor is opening up its investment doors to two more asset managers.

Betterment will now offer an income portfolio strategy powered by BlackRock and a smart beta portfolio strategy powered by Goldman Sachs Asset Management, Betterment CEO Jon Stein revealed this morning. Until now all of Betterment's offerings have been powered solely by Vanguard ETFs.

A spokesman for GSAM was not immediately able to comment, and a spokesman for BlackRock did not return a call for comment.

Stein puts the New York City-based, venture capital-backed roboadvisor's move into the context of his growing and "increasingly diverse customer base." Betterment now manages more than $10 billion for more than 270,000 investors.

"They all want to put their money to work, but not necessarily in the same way," Stein states. "Adding these options to our existing portfolio strategies will help us deliver on our promise to provider customers with a personalized investment plan tailored for their individual needs and preferences."

Many roboadvisors and ETF strategists (roboadvisors' non-internet-focused brethren) have long worked only with certain ETF shops to build their portfolios. Indeed, the two biggest roboadvisors, offered by Schwab and Vanguard, are both part of much bigger financial services titans and are powered exclusively by proprietary ETFs.

Yet Betterment isn't the only one now turning to multiple asset managers for its portfolio building blocks. Indeed, BlackRock's own FA-friendly roboadvisor, FutureAdvisor, is powering LPL's cyborg advisor program out of ETFs from multiple firms. Invesco, which also owns a big ETF shop, has its own advisor-friendly roboadvisor, Jemstep, which also is not restricted to using one firm's wares. And independent ETF shop WisdomTree even backs an open-architecture, advisor-focused roboadvisor, AdvisorEngine. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q4Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. FutureProof Festival, Sep 7-10
  2. WE SoCal - Welcome Mixer at FutureProof, September 8
  3. WE US - ICI conference luncheon, September 8
  4. ICI ETF Conference, Sep 8-10
  5. WE Chicago - Unstoppable: A Journey of Resilience and Redefining Limits, September 9
  6. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  7. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  8. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  9. WE San Francisco - Annual Networking Event, September 11
  10. 2025 MMI Institutional Forum, September 11
  11. IDC webinar - Distribution for Fund Directors: Evolution and Trends, September 15
  12. IMEA Content Management Roundtable, September 16
  13. IMEA 2025 Star Awards Celebration, September 16
  14. IMEA Marketing Summit, Sep 16-17
  15. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  16. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  17. WE PNW - Mentorship Program Virtual Session: Building Trust to Win New Business and Influence Others, September 23
  18. Nicsa webinar - Utilizing AI to Enhance Distribution & Advisor Engagement, September 24
  19. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  20. IMEA Portfolio Construction Roundtable, September 24
  21. IMEA Models Roundtable, September 25
  22. Expect Miracles Atlantic Coast Classic 2025, September 29
  23. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  24. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  25. 10th annual Fuse Forum, October 8
  26. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use