NEW YORK, May 19, 2017 /PRNewswire/ -- Betterment for Business, the technology-led 401(k) provider that aims to deliver better retirement outcomes and personalized advice, announced that Judy Mares and Laraine McKinnon have joined its Board of Advisors. They each bring 20+ years of experience in the defined contribution market to Betterment for Business.
Judy Mares most recently served as Deputy Assistant Secretary for Policy in the Employee Benefits Security Administration of the U.S. Department of Labor from 2013 until January 2017. During her tenure, Judy was a member of the leadership team developing the Fiduciary Rule, the Department's guidance on ESG Investing and Shareholder Engagement among other products. Prior to this role, Judy was the Chief Investment Officer for multiple Fortune 500 companies including General Mills, Ameritech, and Alliant Techsystems.
As a member of the U.S. Department of Labor leadership team that developed the Fiduciary Rule, Mares has a strong affinity for unconflicted business models. "At Betterment, there is no uncertainty about where the customer stands. I'm proud to be part of a firm that puts its customers' interests first," Mares explained.
Laraine McKinnon spent over two decades at BlackRock where she most recently served as a Retirement Readiness Strategist. McKinnon built and delivered Defined Contribution tools and analytics to support senior finance and human resources executives as well as top financial advisors. Her work with Fortune 500 companies and state plans has positively influenced retirement outcomes for millions of Americans.
"The 401(k) industry all agrees on the key elements leading to retirement readiness: save the right amount of money, diversify and minimize behavioral mistakes," said Laraine McKinnon. "The Betterment for Business platform packages those elements into single solution, simplifying retirement planning and encouraging better outcomes for participants."
"We are thrilled to have Judy and Laraine join our Board of Advisors," said Cynthia Loh, General Manager of Betterment for Business. "Their deep expertise in the defined contribution space and strong advocacy for retirees will help further our mission to empower people to take control of their financial futures and make the most of everything they earn."
Betterment for Business' Board of Advisors now consists of six members whose diverse expertise and commitment to acting in their clients' best interests play an important role in advising the company's growth and strategy. The company's current Board of Advisors include Ray Kanner, Former Managing Director & CIO of IBM, Thomas E. Clark, Jr. Partner at The Wagner Law Group, Stig Nybo, Retirement Industry Strategist, and John Casey, Director of Global Benefits, Google.
To learn more about Betterment for Business, please visit www.bettermentforbusiness.com.
About Betterment for Business
Betterment for Business is a 401(k) service built from the ground up with the needs of the modern employee in mind. It's selected by employers who want to offer their employees tailored and smart financial advice that will help them create a more secure future. Betterment for Business is powered by Betterment's proprietary, smart technology that automates and optimizes asset allocation to enhance financial wellness. As a fiduciary that is independent of the funds it invests in, Betterment believes that everyone has the fundamental right to expert financial advice. Headquartered in New York City and created by the largest independent robo-advisor, Betterment for Business is used by leading employers like Casper and Boxed. For more information, visit www.bettermentforbusiness.com.
Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Determination of largest independent robo-advisor reflects Betterment LLC's distinction of having highest number of assets under management, based on Betterment's review of assets self-reported in the SEC's Form ADV, across Betterment's survey of independent robo-advisor investing services as of July 11, 2016. As used here, "independent" means that a robo-advisor has no affiliation with the financial products it recommends to its clients. 401(k) plan administration services provided by Betterment for Business LLC. Investment advice to plans and plan participants provided by Betterment LLC, an SEC registered investment adviser. Brokerage services provided to clients of Betterment LLC by Betterment Securities, an SEC registered broker-dealer and member FINRA/SIPC. Betterment LLC and Betterment Securities are affiliates of Betterment for Business LLC.
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