The changes for two pioneers of the digital advice space come as the sector matures; major banks and wirehouses are ramping up their own digital advice offerings, and a preference for hybrid robo advice has emerged.Betterment's co-founder Eli Broverman posted Monday on LinkedIn that he is stepping away from daily operations at the New York-based robo adviser. Separately, former Wealthfront CEO Adam Nash joined the board at micro-investing app Acorns, the firm announced on Tuesday.
In a post that features a group photo of Betterment's team, Broverman, 38, says he made the decision several weeks ago to relinquish the president's role at the firm in order to focus on other startups. He will remain on Betterment's board. "It's time for me to get back to helping to build early-stage companies," he wrote. "[Jon Stein, Betterment CEO] and I have talked about this at length, and I can't thank him enough for his support." "It's time for me to get back to helping to build early-stage companies," said Eli Broverman. co-founder of Betterment, in a post on LinkedIn. From Betterment's earliest days, Stein, not Broverman, has acted as its most public face ― in front of the company's major announcements, appearing in national advertisements and television interviews and headlining industry events.