Jonathan "Jon" Stein is an American

fintech Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...

entrepreneur. He is the founder and chairman of

Betterment In real estate, betterment is the increased value of real property from causes other than investment made by the property owner. It is, therefore, usually referred to as unearned increment or windfall gain. When, for instance, a property is rezo ...

, the largest independent online financial advisor in the U.S., with over $18 billion in assets under management. Stein served as chief executive officer from Betterment's founding in 2010 until December 2020, when he was succeeded by Sarah Levy. Under the umbrella of Betterment Holdings Inc., Stein manages Betterment's core retail platform, often referred to as a "

robo-advisor Robo-advisors or robo-advisers are financial advisers that provide personalized financial advice and investment management online with moderate to minimal human intervention. A robo-advisor provides digital financial advice that is personalised b ...

"; a

401(k) In the United States, a 401(k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401(k) of the U.S. Internal Revenue Code. Periodic employee contributions come directly out of their ...

platform called Betterment for Business, and a digital advisory platform called Betterment for Advisors. Stein received his B.A. from

Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...

and MBA from

Columbia Business School Columbia Business School (CBS) is the business school of Columbia University, a Private university, private research university in New York City. Established in 1916, Columbia Business School is one of six Ivy League business schools and one of ...

. Stein launched Betterment in 2008 at

TechCrunch TechCrunch is an American global online newspaper focusing on topics regarding high tech, high-tech and Startup company, startup companies. It was founded in June 2005 by Archimedes Ventures, led by partners Michael Arrington and Keith Teare. I ...

Disrupt and made it to the final five in the Startup Battlefield competition the same year. An outspoken critic of some traditional financial practices, Stein has become a recognized industry advocate for more transparency in investing and more customer-centric financial solutions, as well as public policy issues, such as the

U.S. Department of Labor The United States Department of Labor (DOL) is one of the executive departments of the U.S. federal government. It is responsible for the administration of federal laws governing occupational safety and health, wage and hour standards, unem ...

's fiduciary rule for retirement plans. In 2016, Stein was awarded the 27th spot on Fortune's 40 Under 40 list.

References

American financiers American stock traders American investors American chief executives of financial services companies American financial analysts Harvard University alumni Living people Year of birth missing (living people) {{US-CEO-stub Columbia Business School alumni