Kimberly Chehardy, who moved into the role of chief compliance officer at Betterment less than a year ago, "is no longer with the company," according to a company spokesperson. Longtime employee Benjamin Alden, who is also the firm’s chief legal officer, has been named to the position, the company spokesperson confirmed.
The automated advice platform or so-called robo advisor recently opened a new office in Denver and last year saw the launch of a cash management product.
That product is built on a banking network provided by StoneCastle, which also powers cash management features provided by Square’s Cash App, Acorns, MoneyLion and Qapital.
According to its most recent regulatory filings, Betterment has $16.4 billion in assets under management across more than 540,000 accounts.