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As Betterment enters its growth stage to scale AUM, president Eli Brovernman is getting the itch to build a new technology company and move back to the earlier stage. "Call me a masochist, but I love the rollercaster," he says in his Linked-In post about his departure. As early stage investors ourself, we at FinTech Collective. can't agree more.
Jon Stein, co-founder and chief executive of the firm, said in an email that Betterment would not exist without Mr. Broverman's "leap of faith" starting the company with him and that the two remain friends. "I am grateful for the 10 years of service he gave to Betterment," he wrote. "I know he is as proud as I am of everything we've built together, and I'm excited to see what he'll do next." No one will be taking on the role of president, Mr. Stein said.
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