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As Charles Schwab Corp. shares soar and Robinhood's crater, the mobile-first brokerage makes seminal move past its ‘casino' model and sells 'fiduciary' portfolios

Just days after the Menlo Park, Calif., firm nabbed ex-TDA star Steve Quirk to call shots, Robinhood announced it'll sell automated portfolio management and the fantasy of beating market.

Author Oisin Breen January 15, 2022 at 3:11 AM
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Robinhood shares spike 25% after CEO Vlad Tenev finally goes back on the attack against Acorns, Fidelity, and Schwabitrade by adding their tricks and features to its quiver

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March 29, 2022 at 7:19 PM

Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

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January 6, 2022 at 10:33 PM

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

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


Mentioned in this article:

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein




Brian Murphy

Brian Murphy

January 15, 2022 — 10:11 PM
Interesting move by Robinhood, but probably without much of a great follow-through with existing clients, but I suspect this is only the first step to offering an SEC robo-advice service that will directly compete with Betterment/Wealthfront; similar to what Schwab does as well. They're going to have to go that way as only 10 to maybe 25% of the "investing market" has interest in short-term trading. Funny that we still haven't seen anyone broadly rethinking what it is that the consumers needs when it comes to financial services - something that includes investments, but extends to other verticals. Of course, it necessitates rethinking of firm business models, but the opportunity is huge; and what I'm working on with Kivalia.

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