# 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.

- CRD: 149117
- Filed as: BETTERMENT
- Legal name: Betterment LLC
- Also doing business as: BETTERMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: July 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/149117
- AdvisorCensus page: https://advisorcensus.com/firm/betterment-new-york-ny-149117

## Quick answers

**How 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

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Betterment Securities (affiliated with the firm)

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.

### Regulatory assets under management (Item 5.F)
- Total: $69,524,492,986
- Discretionary: $69,401,339,525
- Non-discretionary: $123,153,461

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 992,194 | $46,630,077,847 |
| High net worth individuals | 24,685 | $17,119,725,381 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 4,792 | $5,425,833,946 |
| Charitable organizations | 11 | $1,259,571 |
| Corporations or other businesses not listed above | 806 | $347,596,241 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services
- Educational seminars/workshops

### Firm details
- Registered since: 2009 (17 years)
- Employees: 794 total, 34 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: 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
- Disclosures (Item 11): Reports 4 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 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. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/149117

### Other offices (Schedule D, Section 1.F), as of the March 2026 filing
- Denver, CO

### Websites listed on Form ADV (Item 1.I)
- betterment.com
- betterment.com/advisors
- betterment.com/work
- reddit.com/user/bettermenthq
- Facebook @betterment
- Instagram @betterment
- LinkedIn @betterment
- LinkedIn @sarah-kirshbaum-levy-889881a1
- LinkedIn @betterment-advisor-solutions
- LinkedIn @betterment-at-work
- Pinterest @betterment
- TikTok @bettermenthq
- X @better4advisors
- X @betterchecking
- X @betterment
- X @bettermentatwrk
- X @bettermenthelp
- YouTube @betterment

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $28,268,139,608 | 325 | September 1, 2021 |
| October 2022 | $33,838,765,280 | 397 | August 3, 2022 |
| October 2023 | $36,630,802,858 | 449 | September 28, 2023 |
| October 2024 | $45,932,816,617 | 532 | September 9, 2024 |
| October 2025 | $56,368,684,129 | 631 | July 31, 2025 |
| October 2026 | $69,524,492,986 | 794 | July 31, 2026 |

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.

## 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.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Betterment (CRD 149117): Form ADV filing data as of October 2026.