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Betterment s new CEO is replacing founder Jon Stein at a super-competitive moment for the robo-advisory industry the startup has helped pioneer, with wealth- and investment-tech rapidly consolidating.
Sarah Kirshbaum Levy, a former longtime ViacomCBS executive, will grapple with growing Betterment s brand and drawing in new customers from legacy wealth managers that dwarf it in size.
While candidates for Stein s role largely felt confident in the brand, some had concerns around the general business model of robo-advisors, a source familiar with the process said.