Jon Stein

{{short description|American fintech entrepreneur}}

{{Multiple issues|

{{notability|Bio|date=May 2017}}

{{BLP sources|date=May 2017}}

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{{Infobox person

| name = Jon Stein

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| birth_name = Jonathan Stein

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| nationality = American

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| education = Harvard University
Columbia Business School

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| occupation = Investor, business magnate, and entrepreneur

| known_for = Founding and leading Betterment

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Jonathan "Jon" Stein is an American fintech entrepreneur.{{Cite web|url=http://www.investmentnews.com/section/40-under-40/2014/profile/36/Jon-Stein|title=InvestmentNews - 40 Under 40 2014: Jon Stein|website=www.investmentnews.com|access-date=2017-05-26}}{{Cite web|url=https://www.cnbc.com/2017/03/05/warren-buffetts-advice-doesnt-work-anymore-robo-advisor-ceo-says.html|title=Warren Buffett's advice 'doesn't work anymore,' robo-advisor CEO says|last=Anderson|first=Tom|date=2017-03-05|website=CNBC|access-date=2017-05-26}}{{Cite news|url=https://www.forbes.com/sites/samanthasharf/2015/06/17/betterments-jon-stein-curb-your-enthusiasm-for-stock-picking/#7342705f65be|title=Betterment's Jon Stein: Curb Your Enthusiasm For Stock Picking|last=Sharf|first=Samantha|work=Forbes|access-date=2017-05-26}}{{Cite web|url=https://www.brandeis.edu/global/innovation/news/2017-stein-asper-award.html|title=FinTech Debate at Brandeis International Business School (IBS) {{!}} Brandeis International Business School|website=www.brandeis.edu|language=en|access-date=2017-05-26}} He is the founder and chairman{{Cite web|url=https://www.betterment.com/resources/betterments-new-ceo-sarah-kirshbaum-levy/|title=The Pursuit of Betterment's New CEO (And Finding Happiness Along the Way)|date=8 December 2020}} of Betterment, the largest independent online financial advisor in the U.S., with over $18 billion in assets under management.{{Cite news|url=http://riabiz.com/a/2016/7/15/betterment-makes-cfo-hire-with-20-billion-aum-line-of-sight-and-ipo-mindfulness|title=Betterment makes CFO hire with $20 billion AUM 'line of sight' and IPO mindfulness|work=RIABiz|access-date=2017-05-26}} 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"; a 401(k) platform called Betterment for Business, and a digital advisory platform called Betterment for Advisors.{{Citation needed|date=August 2019}}

Stein received his B.A. from Harvard University and MBA from Columbia Business School.{{Cite web |title=How Jon Stein Built Betterment, From High-Minded Mission to Outsider Scrappiness {{!}} NYC Founder Guide |url=https://www.nycfounderguide.com/insight/jon-stein-built-betterment-high-minded-mission-outsider-scrappiness |access-date=2022-07-15 |website=www.nycfounderguide.com}}{{Cite web |title=Betterment Resources {{!}} Original Content by Financial Experts |url=https://www.betterment.com/resources/author/jon-stein |access-date=2022-07-15 |website=www.betterment.com |language=en}}

Stein launched Betterment in 2008 at TechCrunch Disrupt and made it to the final five in the Startup Battlefield competition the same year.{{Cite web|url=https://techcrunch.com/2010/05/26/the-techcrunch-disrupt-final-five-betterment-movieclips-publish2-soluto-and-ujam/|title=The TechCrunch Disrupt Final Five: Betterment, MOVIECLIPS, Publish2, Soluto And UJAM {{!}} TechCrunch|last=Arrington|first=Michael|date=26 May 2010 |access-date=2017-08-29}}{{Cite web|url=https://techcrunch.com/2010/12/01/bessemer-betterment-3-million/|title=Bessemer Backs Better-Savings Startup Betterment With $3 Million {{!}} TechCrunch|last=Schonfeld|first=Erick|date=2 December 2010 |access-date=2017-08-29}}

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's fiduciary rule for retirement plans.{{Cite web|url=http://www.thinkadvisor.com/2017/04/10/why-a-diluted-fiduciary-rule-is-bad-for-advisors-b|title=Why a Diluted Fiduciary Rule Is Bad for Advisors: Betterment, CFP Board|access-date=2017-05-26}}

In 2016, Stein was awarded the 27th spot on Fortune's 40 Under 40 list.{{Cite news|url=http://fortune.com/40-under-40/jon-stein-27/|title=Morgan Vawter|date=2016-09-22|work=Fortune|access-date=2017-07-25|language=en-US}}