{
  "crd_number": 149117,
  "slug": "betterment-new-york-ny-149117",
  "primary_business_name": "BETTERMENT",
  "legal_name": "BETTERMENT LLC",
  "dbas": [
    "BETTERMENT"
  ],
  "city": "New York",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2009-05-21",
  "years_registered": 17,
  "period": "2026-10-01",
  "filing_date": "2026-07-31",
  "carried_forward": false,
  "raum_total": 69524492986.0,
  "raum_discretionary": 69401339525.0,
  "raum_non_discretionary": 123153461.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 794,
  "advisory_employees": 34,
  "client_count_bucket": null,
  "clients_by_type": {
    "charitable": {
      "raum": 1259571.0,
      "count": 11
    },
    "individuals": {
      "raum": 46630077847.0,
      "count": 992194
    },
    "pension_profit_sharing": {
      "raum": 5425833946.0,
      "count": 4792
    },
    "high_net_worth_individuals": {
      "raum": 17119725381.0,
      "count": 24685
    },
    "corporations_other_businesses": {
      "raum": 347596241.0,
      "count": 806
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "educational_seminars",
    "financial_planning",
    "pension_consulting",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 4,
  "states_registered": [
    "AK",
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "HI",
    "IA",
    "ID",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "MD",
    "ME",
    "MI",
    "MN",
    "MO",
    "MS",
    "MT",
    "NC",
    "ND",
    "NE",
    "NH",
    "NJ",
    "NM",
    "NV",
    "NY",
    "OH",
    "OK",
    "OR",
    "PA",
    "PR",
    "RI",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VI",
    "VT",
    "WA",
    "WI",
    "WV",
    "WY"
  ],
  "websites": [
    "https://betterment.com",
    "https://betterment.com/advisors",
    "https://betterment.com/work",
    "https://facebook.com/betterment",
    "https://instagram.com/betterment",
    "https://linkedin.com/company/betterment",
    "https://linkedin.com/in/sarah-kirshbaum-levy-889881a1",
    "https://linkedin.com/showcase/betterment-advisor-solutions",
    "https://linkedin.com/showcase/betterment-at-work",
    "https://pinterest.com/betterment",
    "https://reddit.com/user/bettermenthq",
    "https://tiktok.com/@bettermenthq",
    "https://twitter.com/better4advisors",
    "https://twitter.com/betterchecking",
    "https://twitter.com/betterment",
    "https://twitter.com/bettermentatwrk",
    "https://twitter.com/bettermenthelp",
    "https://youtube.com/user/betterment"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/149117",
  "disclosure_items": [
    {
      "item": "11.C(1)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?"
    },
    {
      "item": "11.C(2)",
      "question": "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?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "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?"
    }
  ],
  "city_as_filed": "NEW YORK",
  "url": "https://advisorcensus.com/firm/betterment-new-york-ny-149117",
  "display_name": "Betterment",
  "summary": "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.",
  "citation": "AdvisorCensus. Betterment (CRD 149117): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Pension consulting services",
    "Educational seminars/workshops"
  ],
  "quick_answers": [
    {
      "q": "How is Betterment compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Betterment reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "Where is Betterment located?",
      "a": "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)."
    },
    {
      "q": "Is Betterment registered with the SEC or a state?",
      "a": "Betterment is an SEC-registered investment advisory firm, registered since 2009. Status as filed: Approved. CRD 149117."
    },
    {
      "q": "How much does Betterment manage?",
      "a": "Betterment reports $69,524,492,986 in regulatory assets under management in its Form ADV filing dated July 31, 2026 (100% discretionary)."
    },
    {
      "q": "How have Betterment's assets and staff changed since 2021?",
      "a": "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."
    },
    {
      "q": "What types of clients does Betterment serve?",
      "a": "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)."
    },
    {
      "q": "Which custodians does Betterment use?",
      "a": "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."
    },
    {
      "q": "Does Betterment report any disciplinary disclosures?",
      "a": "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"
    },
    {
      "q": "What changed in Betterment's recent Form ADV filings?",
      "a": "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."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 28268139608.0,
      "total_employees": 325,
      "filing_date": "2021-09-01"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 33838765280.0,
      "total_employees": 397,
      "filing_date": "2022-08-03"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 36630802858.0,
      "total_employees": 449,
      "filing_date": "2023-09-28"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 45932816617.0,
      "total_employees": 532,
      "filing_date": "2024-09-09"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 56368684129.0,
      "total_employees": 631,
      "filing_date": "2025-07-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 69524492986.0,
      "total_employees": 794,
      "filing_date": "2026-07-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "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."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Betterment Securities",
      "name_as_filed": "BETTERMENT SECURITIES",
      "affiliated": true
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/betterment-new-york-ny-149117.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 992194,
      "fewer_than_5": false,
      "raum": 46630077847.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 24685,
      "fewer_than_5": false,
      "raum": 17119725381.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 4792,
      "fewer_than_5": false,
      "raum": 5425833946.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 11,
      "fewer_than_5": false,
      "raum": 1259571.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 806,
      "fewer_than_5": false,
      "raum": 347596241.0
    }
  ],
  "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/149117",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}