NEW YORK, April 12, 2016 /PRNewswire/ -- Betterment, the largest independent robo-advisor, today announced that John S. Clendening will join its Board of Directors. Clendening brings more than 25 years of experience in financial services to Betterment. Clendening is currently President and Chief Executive Officer at Blucora, a leading provider of technology-enabled financial solutions for consumers, small business owners and tax professionals.
Prior to joining Blucora, Clendening was Executive Vice President and Co-Head of the Investor Services Division at Charles Schwab & Co., where he was responsible for driving profitable, long-term retail growth. During his 11 years at Schwab, Clendening served in numerous roles, including Executive Vice President and Chief Executive Officer of Charles Schwab Bank. Prior to Charles Schwab, Clendening held leadership roles at eMac Digital LLC, Living.com and First Union Corporation.
"John is an established leader in financial services and we are thrilled to add him to the board," said Jon Stein, Founder and CEO of Betterment. "He brings a rare breadth of experience that will undoubtedly be a strong voice to our management team. Betterment aims to be our customers' central financial relationship, and we believe John's experience and passion will help us fulfill that goal."
"I've been incredibly impressed getting to know Jon and the team at Betterment," said Clendening. "The team is extremely talented, committed and focused on acting on its clients best interests. Betterment has clearly established itself as the leader of the space and is the best positioned to create a lasting, nationally recognized brand."
Betterment's Board of Directors also includes Robert Stavis, John Jarve, Peter Christodoulou, Phillip Riese, Chris Bischoff, Eli Broverman and Jon Stein.
Betterment offers its customers a globally diversified portfolio of index-tracking exchange-traded funds (ETFs) with personalized advice in a goal-based investing framework. Customers can open and customize regular investment accounts, traditional/SEP/Roth IRAs, trust accounts, and accounts for retirement income. Betterment also has expanded its platform to serve the RIA and 401(k) markets. For more information, please visit www.Betterment.com.
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Betterment is the largest independent robo-advisor, helping people to better manage, protect, and grow their wealth through smarter technology. With more than 150,000 customers and over $4.0 billion in assets under management, the service offers a globally diversified portfolio of ETFs, designed to help provide you with the best possible expected returns for retirement planning, building wealth, and other savings goals. Betterment also helps customers get on track for a comfortable retirement with RetireGuide™, a retirement planning tool that lets people know how much they should save and if they are investing correctly. Betterment is a CNBC Disruptor 50, FT 300 and Webby award winner, and it has been featured in the New York Times, Forbes, and the Wall Street Journal. Betterment helps people to achieve a smarter financial future with minimal effort and for a fraction of the cost of traditional financial services.
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 March 15, 2016. As used here, "independent" means that a robo-advisor has no affiliation with the financial products it recommends to its clients.
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