A U.S. debt default, unlike a government shutdown, would be unprecedented. Here’s why we don’t think it will occur.
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Author: Andrew Green
A message to my new class of Milestone Rewards clients
Every quarter, a new graduating class of clients makes it through their three-year anniversary with us and into our Milestone Rewards program. As Milestone Rewards members, clients are granted a lifetime (permanent!) fee reduction that they have earned with their loyalty to their own financial plan. If you can make it three years of stock and bond market volatility without panicking out of your portfolio, you can make it …
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Betterment Raises $160 Million in Growth Capital
Today, we’re announcing that Betterment has secured $160 million in growth capital comprised of a $60 million Series F equity round and a $100 million credit facility. This moment comes as Betterment is the largest independent digital investment advisor with $32 billion in assets under management and nearly 700,000 clients.
The Series F round was led by Treasury, with participation from existing investors, including Kinnevik, Bessemer Venture Partners, Francisco Partners, Menlo Ventures, Anthemis Group, Globespan Capital Partners, Citi Ventures, and The Private Shares Fund, as well as new investors Aflac Ventures and ID8 Investments. The financing valued the company at nearly $1.3 billion.
The $100 million credit facility was established with ORIX Corporation USA’s Growth Capital group and Runway Growth Capital. ORIX’s Growth Capital group acted as lead arranger and agent.
The additional funding will be used to accelerate the record growth Betterment has delivered year-to-date across its core retail investment products and advisor solutions, and particularly its rapidly growing 401(k) offering for small and medium sized businesses.
“From day one, Betterment’s mission has been to make people’s lives better with easy-to-use, personalized investment solutions. The record growth and demand for Betterment products and services proves how well we deliver,” said Sarah Levy, Betterment’s CEO. “We are thrilled to have the support of new and existing investors who believe in our business model and are excited by the opportunity to support our growth. We’re using these funds to further cement our category leadership with rapid innovation on top of our already differentiated product suite and unique, multi-pronged distribution model that serves retail investors, advisors and small businesses.”
“I’ve seen first hand the strength of Betterment’s business model since its founding over a decade ago. Participating in Betterment’s next chapter as an investor is an exceptional opportunity,” said Eli Broverman, a co-founder of Betterment and a founder of Treasury. “I believe in Betterment’s team and vision, and we are thrilled to support the company’s future success.”
To all of our customers, we couldn’t have achieved this without you. Thank you!
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Rookie Podcast 117: From 0 to 12 Units Overnight and House Hacking a…Farm?
Amanda Bolan, like many of us, had a “pressure cooker” moment where she realized that becoming a real estate tycoon was part of her future. At the time, she was […]
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Is Jay Powell a Dangerous Man?
5:30pm ET LIVE premiere today – Subscribe for the alert!
Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including:
►Yields Screaming Higher – Higher yields mean that tech stocks are getting smoked and cyclicals are going bananas.
►Volatility Is Back – Hayden,…
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Biden’s Proposed Tax Changes: What Investors Should Know
Many of you have been anxiously awaiting this information for several months, and it is finally here. We now have more insight into what the proposed tax policies and changes may look like.
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TODAY IN 1987!
“Are the traditionalists being too cautious? Some well-known Grahamites, after all, considered the market full valued as far back as two years ago. Clearly, something is going on that the old analytical concepts cannot account for.”
You could have written this article today and not had to change more than a dozen words or so. By the way, 14 trading days later the Dow Jones crashed 23% in a day. Have a nice afternoon….
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BiggerPockets Podcast 511: Getting Your Market, Money, and Mindset Right | 3 Coaching Calls!
So many BiggerPockets listeners are out there killing it in the world of real estate investing. But, with growth and positive change comes more and more questions. On today’s coaching […]
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Young Men
Is it harder to be a young man today than it was 20 years ago? I have to say, unequivocally, yes. Of course it is. All the XBoxes and iPhones in the world won’t change this. My friend Allison Schrager picks up on this idea in the latest edition of her Known Unknowns substack letter:
I worry about men in the labor force. The economy is changing. Most of the job growth is in traditional “women jobs” like health c…
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BiggerPocket Money Podcast 235: Why a High-Income Doesn’t Automatically Fast Track You to FI
High-income earners have a better shot at retiring early than those making a median income. That being said, with more money comes more investing risk. After the great recession, Bob […]
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