AdvisorCensus / Financial advisors / New York / New York / Betterment
Betterment is an SEC-registered investment advisory firm in New York, NY, registered since 2009, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 31, 2026.
Quick answers
From the filingHow is Betterment compensated?
On its Form ADV (Item 5.E, October 2026), Betterment reports these compensation arrangements: a percentage of assets under its management.
Where is Betterment located?
Betterment's principal office is in New York, NY, according to its Form ADV; the March 2026 filing also lists 1 other office (Schedule D, Section 1.F).
Is Betterment registered with the SEC or a state?
Betterment is an SEC-registered investment advisory firm, registered since 2009. Status as filed: Approved. CRD 149117.
How much does Betterment manage?
Betterment reports $69,524,492,986 in regulatory assets under management in its Form ADV filing dated July 31, 2026 (100% discretionary).
How have Betterment's assets and staff changed since 2021?
In the Form ADV data for Betterment: Regulatory assets under management: $28,268,139,608 in the October 2021 data and $69,524,492,986 in the October 2026 data, up 146%. Total employees: 325 in October 2021 and 794 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Betterment serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (992,194); high net worth individuals (24,685); pension and profit sharing plans (but not the plan participants or government pension plans) (4,792).
Which custodians does Betterment use?
Betterment's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Betterment Securities (affiliated with the firm) as a custodian holding 10% or more of its separately managed account assets.
Does Betterment report any disciplinary disclosures?
Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(1) (SEC or CFTC finding of a false statement or omission), 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/149117
What changed in Betterment's recent Form ADV filings?
In the April 2026 filing data: Employees performing advisory functions went from 33 to 34. Regulatory assets under management went from $56,368,684,129 to $69,524,492,986 (+23%). No longer lists an office in Denver, CO.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2ASee the firm's brochure (dated July 31, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$69,524,492,986 as of October 2026, filing dated July 31, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services
- Educational seminars/workshops
Registration and firm details
Items 1, 2, 5- Legal name
- Betterment LLC
- Also doing business as
- BETTERMENT
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2009 (17 years)
- Employees
- Total: 794. Performing investment advisory functions: 34.
- Wrap fee program participation
- Yes.
- Custodians (Schedule D, Section 5.K(3))
-
Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.
- Other offices (Schedule D, Section 1.F)
-
1 other office, as of the March 2026 filing
- States registered or notice-filed
-
53 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 114 Reports 4 disclosure items on Form ADV Item 11. View on IAPD.
Questions answered yes on this filing
Regulatory matters Items 11.C to 11.G
- 11.C(1) Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?
- 11.C(2) Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4) Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5) Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. What happened, and who was involved, is on the Disclosure Reporting Pages of the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $69,524,492,986 | 794 | July 31, 2026 |
| October 2025 | $56,368,684,129 | 631 | July 31, 2025 |
| October 2024 | $45,932,816,617 | 532 | September 9, 2024 |
| October 2023 | $36,630,802,858 | 449 | September 28, 2023 |
| October 2022 | $33,838,765,280 | 397 | August 3, 2022 |
| October 2021 | $28,268,139,608 | 325 | September 1, 2021 |
Regulatory assets under management: $28,268,139,608 in the October 2021 data and $69,524,492,986 in the October 2026 data, up 146%.
Total employees: 325 in October 2021 and 794 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Employees performing advisory functions went from 33 to 34.
- Regulatory assets under management went from $56,368,684,129 to $69,524,492,986 (+23%).
- No longer lists an office in Denver, CO.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Betterment (CRD 149117): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/betterment-new-york-ny-149117