{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Robo advisor Betterment’s CEO says customers are ‘staying the course’","html":"","width":"100%","height":180,"duration":3055,"description":"After a gloomy March and a proverbially rainy April, May has shaped up to be a – dare one say it – positive market from a macro market perspective.\nDespite the ongoing tragedy of the global coronavirus pandemic, investors appear to be buying. The S&P 500 broke 3,000 for the first time in March and the Dow is up broadly on positive sentiment that efforts to reopen businesses in the U.S. – all in the hopes of coaxing back consumers – will be successful. Yet despite the sense of optimism, analysts hesitate to call it a clear win, given the risks that remain.\nThe Block sat down with John Stein, co-founder of robo advisor firm Betterment, who spoke about the macroeconomic picture in the context of his firm’s clients. Stein remarked that while the first quarter of 2020 was a strong one for signups – April even more so – the company has nonetheless felt the pinch amid difficult market conditions.\n“Our revenue is tied to assets under management. We see our pain, our own accounts are down. You know, my personal account is affected by a downturn in the market. And our customers feel that.” he told The Block. “But overall, our customers are staying the course.”\nWe also explore:\n\nHow Betterment has fared in a world where remote work is the rule, not the exception\n\nThe ways in which the firm’s customer base reacted to this year’s market turbulence\n\nHow the first quarter of 2020 was one of Betterment’s best\n\nIts checking account product\n\nStaying competitive in a hyper-fast space where all eyes are on the market\n\n\nThis episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}