In today’s episode of Framework, Jamie talks with Jon Stein, the founder and former CEO of Betterment, an automated investing platform that makes it easier to do the right thing with your money.

Jon’s road to financial services started with a penchant for understanding and helping others. In college, he studied business and economics but was most intrigued by behavioral economics and psychology. After a brief foray into medicine, Jon used his obsession with efficiency and helping others to consult for the banking industry.

Though he met many well-meaning people in the financial services space, he felt that, at its core, the system was broken. It took several years to figure out how he wanted to use tech to improve people’s financial well-being. And once he started Betterment, he knew he was onto something that was filling a big gap in the market.

Jon talks with Jamie about why he created Betterment in the wake of the 2008 financial crisis, how roles are shifting for financial advisors, and why creating great tech is about adding more value for customers than they can get elsewhere.

(25:03) “Advisors aren’t going anywhere. I’m very bullish on that fact. Well-to-do people are going to want advisors, right? I can sell you a great lawnmower, the fanciest electric lawn mower that lets you ride around, but a lot of people are still going to choose to have someone mow their lawn, right? Even though you could do it on your own. ~ @jonstein

Main Takeaways

  • Advisors aren’t going anywhere, there will always be a place for in-person money management over robo advisors. However, they, like consumers, want the best tech available.
  • The success of tech comes down to creating value for customers — more value than they can get through other channels or platforms.
  • Customers should be aspiring to financial goals, something that they actually want to obtain. Otherwise, they don’t need financial management.

Links and Important Mentions

Get a Free Coaching Call From a Carson Group Executive Business Coach

It’s important to get an outside perspective from inside the industry. Our executive business coaches have years of experience in building and growing advisory firms. In fact, our coaching members grow 2.5x the industry average over a two-year period.

So here’s our challenge to you: put a framework in place for your business by getting a free coaching call. One of the most important calls with your coach is the first one. And we’re giving it away for free.

Go to to sign up for your free coaching call with a Carson Group Executive Business Coach.

Subscribe and Stay in Touch

facebook twitter linkedin mail print
Share Post: facebook twitter linkedin mail print
Recent Posts

What Thriving Advisors Understand: You’re in the Emotions Business

By: J.J. Peller
4 questions to start asking prospective clients now After reading the title of this blog, you might be thinking to yourself, “We don’t talk about emotions with clients!”  And, if…

Financial Literacy and Pushing Through Barriers with David Rhoiney

By: Jamie Hopkins
In today’s episode of Framework, Jamie talks with Dr. David Rhoiney, a surgeon and the founder of SurgiFi, a personal finance site dedicated to helping people achieve financial independence. Growing…

How to Manage Your Team Out of Crisis Mode and Beyond 2020

By: Gerry Herbison
2020 was a cakewalk, right? Only if a cakewalk can be characterized by chaos, change, stress and challenges. Not much has been easy. If there is an upside, it is…

Creating Value-Add Content and Educating Clients with Jason Ray

By: Jamie Hopkins
In today’s episode of Framework, Jamie talks with Jason Ray, the founder and CEO of  Zenith Wealth Partners, a financial planning firm in Philadelphia. Jason and his team are also…
1 2 3 74