The stereotypical lawyer is risk-averse. But every stereotype has exceptions. Some lawyers — perhaps you? — have ideas for innovations that they leave the law to pursue.
Are you interested in leaving the practice of law to pursue an entrepreneurial venture? Maybe you can learn some lessons from the experiences of today’s lawyer turned businessperson….
Today’s “stealth lawyer,” which is the term our friends at Bloomberg Law use to refer to their profile subjects, is Eli Broverman. He’s the co-founder and COO of Betterment LLC, an online investment manager for the average person.
After graduating from a top law school without student loans — there’s one lesson for you (law school is okay if you can go debt-free to a T6) — he worked at a leading law firm. After two years in practice, he took his knowledge of securities law, connected with a friend, and launched Betterment. Check out this interview, in which he shares his story with Spencer Mazyck of Bloomberg Law:
Betterment sounds like a great product, doesn’t it? And the fees are low compared to traditional investment-management options. If you’re trying to get your financial affairs in order or save up for a particular goal or project, you should check it out.
Congratulations to Eli on the success of Betterment, which has been praised by the press for its innovative model, and best of luck to him and his colleagues in the years ahead.
Stealth Lawyer: Eli Broverman, Financial Startup Co-Founder [Bloomberg Law via YouTube]