Ric Edelman tells how he succeeds in advice's Death Valley -- online investing
For one thing the RIA maestro with $18 billion of advised asset charges full boat and people are an option
Related Moves
Wealthfront cedes to four years of investors clamoring for crypto by taking on expensive third-party vendor that Betterment rules out
The Redwood City, Calif., robo-advisor turned a hard 'no' into a soft 'yes' by dealing with Grayscale and its 200 basis-point-plus fees, which its robo rival in NYC -- also without a crypto path -- finds ludicrous.
August 14, 2021 at 2:20 AM
Second Betterment exec departs as new CEO Sarah Levy orients to her first month on the job and is confronted by personnel matters
Chief operating officer Dustin Lucien is the latest to leave the New York City robo-advisor, one of at least eight positions open as it prepares a push across multiple business lines to ignite growth.
January 19, 2021 at 6:32 PM
Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say
The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.
December 31, 2020 at 4:37 AM
Jon Stein ousts himself as Betterment CEO and taps Sarah Levy, who joins an exclusive club of top women executives, with a mission -- an IPO
The co-founder of the New York robo-advisor headhunted the ex-Viacom brass through Harvard professors on the down low to ostensibly scale operations.
December 8, 2020 at 5:27 PM
See more related moves
Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff
Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein
Robert Boslego
But the Edelman investment approach is buy-and-hold, which is out-of-touch with 85% of all investors, who want some form of downside protection.
The Wealthfront and Betterment business models can’t compete with Vanguard.
I think this may be Wealthfront’s third pivot, but a with new name, more VC money and an old investment approach from the1970s, disproved by Shiller (2013 Nobel Prize winner).
I don’t know what Betterment’s investment strategy is, beyond buy-and-hold.
