Betterment founder and CEO Jon Stein describes career choices among his Harvard classmates upon graduating in the early 2000s.
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“80% of the graduating class from Harvard went into finance of some sort.”
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More from John Stein
AssertionSupported
Stein: Warren Buffett does not practice his own passive investing advice
“He's, he doesn't do what he preaches, right? He's an active investor himself.”
John SteinMay 25, 2017▶ 14:36670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein
Opinion
Stein: Betterment's 0.25% fee is more than offset by tax optimization
“I would compare an all in net return number, and I would think about that .2 to five percent being more than made up for in the tax optimizations alone, plus the behavioral optimization, the diversification, and the ease of use that we give you are worth a lot…”
John SteinMay 25, 2017▶ 16:35670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein
AssertionNot checkable as stated
Stein: Betterment is outgrowing historical adoption of ETFs and discount brokerages
“If you look at the growth of ETFs, we're growing faster than ETFs took off. If you look at the growth of say discount brokerages, we're growing faster than that.”
John SteinMay 25, 2017▶ 17:31670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein
PredictionOpen · timeframe May 2020
Stein: Betterment plans to IPO rather than sell to an acquirer
“We've always said we're going to make it a public company. We've always had our sights set on the long term. We're building an institution for the next century. We're not interested in selling out right now.”
John SteinMay 25, 2017▶ 19:17670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein
AssertionSupported
Stein: Betterment is the largest independent online investment advisor
“Betterment is the largest independent investment advisor online.”
John SteinMay 25, 2017▶ 2:05670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein
AssertionPartly supported
Stein: Betterment charges 0.25% AUM fee, lowest in industry
“It's .25%, which is the lowest in the industry, and by charging this one clear transparent fee we align ourselves with the customer.”
John SteinMay 25, 2017▶ 2:51670: Betterment Vs. Vanguard, Betterment Passes 200,000 Investors, $8B in AUM with CEO Jon Stein
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