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Betterment sign Photo by Samuel Steinberger

Betterment and Its CCO Part Ways

Betterment assigned its legal officer to the vacated compliance role.

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. 

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