Betterment
Registered investment adviser · New York, NY · CRD #149117
Form ADV data as of 2026-09-01Regulatory assets
$69.52 billion
Total accounts
1,344,483
Employees
794
Disclosure events
4
Firm details
- Website: https://www.twitter.com/bettermentatwrk
- Telephone: 212-228-1328
- SEC file number: 801-70171
- Most recent Form ADV filing: 2026-07-31
- SEC record: View this firm on the SEC's IAPD site
Disciplinary disclosures
This firm reports 4 disclosure questions answered Yes, covering 4 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.
- SEC or CFTC found a false statement or omission
- SEC or CFTC found a violation of its regulations or statutes
- SEC or CFTC entered an order in connection with investment-related activity
- SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Assets and accounts
| Provides continuous and regular supervisory or management services | Yes |
| Discretionary regulatory assets under management | $69.40 billion |
| Non-discretionary regulatory assets under management | $123.2 million |
| Total regulatory assets under management | $69.52 billion |
| Discretionary accounts | 1,334,211 |
| Non-discretionary accounts | 10,272 |
| Total accounts | 1,344,483 |
| Regulatory assets under management attributable to non-U.S. persons | $0 |
People
| Total employees (excluding clerical) | 794 |
| Employees performing investment advisory functions (including research) | 34 |
| Employees who are registered representatives of a broker-dealer | 34 |
| Employees registered as investment adviser representatives with a state | 29 |
| Employees registered as IARs for another investment adviser | 0 |
| Employees who are licensed insurance agents | 0 |
| Firms or persons who solicit advisory clients on the firm's behalf | 12,225 |
Custody
| Has custody of client cash or bank accounts | Yes |
| Has custody of client securities | Yes |
| Client funds and securities held in the firm's custody | $69.52 billion |
| Clients for whom the firm has custody | 1,017,091 |
| A related person has custody of client cash or bank accounts | Yes |
| A related person has custody of client securities | Yes |
| Client funds and securities held in a related person's custody | $69.52 billion |
| Clients for whom a related person has custody | 1,017,091 |
| The firm acts as a qualified custodian | Yes |
| A related person acts as a qualified custodian | Yes |
| Number of persons acting as qualified custodians for the firm's clients | 1 |
How the firm is compensated
Advisory services offered
Affiliated related persons
Reported conflicts of interest
Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:
- Buys or sells for itself securities it also recommends to clients
- Brokers or dealers selected under 8.C.(3) are related persons
- Recommends brokers or dealers to clients
- Brokers or dealers recommended under 8.E. are related persons
- Compensates a non-employee for client referrals
- Provides employee compensation specifically for obtaining clients
Client types
| Type of client | Clients | Assets |
|---|---|---|
| Individuals (other than high net worth individuals) | 992,194 | $46.63 billion |
| High net worth individuals | 24,685 | $17.12 billion |
| Pension and profit sharing plans (not the participants or government plans) | 4,792 | $5.43 billion |
| Charitable organizations | 11 | $1.3 million |
| Corporations or other businesses not listed above | 806 | $347.6 million |