Advice Line with Jon Stein of Betterment

Hello and welcome to the advice line on how I built this lab. I'm Guy Raz. This is the place where we help try to solve your business challenges. Each week, I'm joined by a legendary founder, a former guest on the show. Who will help me try to help you. And if you're building something and you need advice, give us a call and you just might be the next guest on the show. Our number is 1-800-433-1298. Leave us a one-minute message that tells us about your business and the issues or questions that you'd like help with. Alright, let's get to it. Joining me this week is Betterment Founder and Chair John Stein. John, welcome back to the show. Thanks, guy. Great to be here with you. It's great to have you. You were first on the show, we told the story bettermen in 2018.

It's an awesome story, and we will drop a link to that episode in the show notes. So check it out if you missed it. The story basically started in two thousand eight, after the financial crisis, when you had been working for a firm and you kinda got laid off and had to start again. And basically you pioneered this business model. You wanted to to give ordinary investors access to the kind of advice that they would get from a financial advisor, but for a fraction of the fee. And so for for people who don't know about Betterment, you guys kinda simplify things by using algorithms mixed with with robo and human advisors. And I Think John I just checked. I think today you guys Betterman manages something like Almost sixty billion dollars in asset. That's right. Even even more than that today. And we manage money for

Over a million Americans. Wow. Which is quite an honor. Uh it's been amazing to see how it's grown. it's a really, really great offering service and and congrats. And you're not, of course, should mention you're not the CEO. You left in in twenty twenty, but you are still the chairman. And you are on the board of of directors. Can you tell us a little bit about About this.

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