{
  "crd_number": 281515,
  "slug": "gusto-investment-services-llc-san-francisco-ca-281515",
  "primary_business_name": "GUSTO INVESTMENT SERVICES, LLC",
  "legal_name": "GUSTO INVESTMENT SERVICES, LLC",
  "dbas": [],
  "city": "San Francisco",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41860",
  "metro": {
    "cbsa_code": "41860",
    "common_name": "San Francisco",
    "msa_name": "San Francisco-Oakland-Fremont, CA",
    "path": "/advisors/ca/san-francisco"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2015-10-08",
  "years_registered": 10,
  "period": "2026-10-01",
  "filing_date": "2026-08-18",
  "carried_forward": false,
  "raum_total": 12698442351.0,
  "raum_discretionary": 9108834416.0,
  "raum_non_discretionary": 3589607935.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 3,
  "advisory_employees": 2,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 395385396.0,
      "count": 27676,
      "description": "INDIVIDUAL RETIREMENT ACCOUNTS"
    },
    "pension_profit_sharing": {
      "raum": 12303056955.0,
      "count": 50388
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "pension_consulting",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "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",
    "RI",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VT",
    "WA",
    "WI",
    "WV",
    "WY"
  ],
  "websites": [
    "https://linkedin.com/company/guideline",
    "https://retirement.gusto.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/281515",
  "city_as_filed": "SAN FRANCISCO",
  "url": "https://advisorcensus.com/firm/gusto-investment-services-llc-san-francisco-ca-281515",
  "display_name": "Gusto Investment Services, LLC",
  "summary": "Gusto Investment Services, LLC is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2015, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 18, 2026.",
  "citation": "AdvisorCensus. Gusto Investment Services, LLC (CRD 281515): 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": [
    "Portfolio management for individuals and/or small businesses",
    "Pension consulting services"
  ],
  "quick_answers": [
    {
      "q": "How is Gusto Investment Services, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Gusto Investment Services, LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Gusto Investment Services, LLC located?",
      "a": "Gusto Investment Services, LLC's principal office is in San Francisco, CA, according to its Form ADV; the September 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Gusto Investment Services, LLC registered with the SEC or a state?",
      "a": "Gusto Investment Services, LLC is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 281515."
    },
    {
      "q": "How much does Gusto Investment Services, LLC manage?",
      "a": "Gusto Investment Services, LLC reports $12,698,442,351 in regulatory assets under management in its Form ADV filing dated August 18, 2026 (72% discretionary)."
    },
    {
      "q": "How have Gusto Investment Services, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Gusto Investment Services, LLC: Regulatory assets under management: $3,445,503,395 in the October 2021 data and $12,698,442,351 in the October 2026 data, up 269%. Total employees: 174 in October 2021 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Gusto Investment Services, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (50,388); other (27,676)."
    },
    {
      "q": "Which custodians does Gusto Investment Services, LLC use?",
      "a": "Gusto Investment Services, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Benefit Trust Company as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Gusto Investment Services, LLC report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/281515"
    },
    {
      "q": "What changed in Gusto Investment Services, LLC's recent Form ADV filings?",
      "a": "In the June 2026 filing data: Regulatory assets under management went from $16,494,894,029 to $12,007,444,821 (-27%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 3445503395.0,
      "total_employees": 174,
      "filing_date": "2021-09-01"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 5890135888.0,
      "total_employees": 317,
      "filing_date": "2022-09-21"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 7263423988.0,
      "total_employees": 413,
      "filing_date": "2023-10-02"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 11710165540.0,
      "total_employees": 380,
      "filing_date": "2024-07-01"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 16494894029.0,
      "total_employees": 8,
      "filing_date": "2025-03-27"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 12698442351.0,
      "total_employees": 3,
      "filing_date": "2026-08-18"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-06-01",
      "period_label": "June 2026",
      "notes": [
        "Regulatory assets under management went from $16,494,894,029 to $12,007,444,821 (-27%)."
      ]
    },
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "No longer lists the business name Guideline.",
        "Changed its legal name from Guideline Investments, LLC to Gusto Investment Services, LLC.",
        "Added an office in Burlingame, CA.",
        "No longer lists an office in Solana Beach, CA.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Employees performing advisory functions went from 3 to 2.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Benefit Trust Company",
      "name_as_filed": "BENEFIT TRUST COMPANY",
      "affiliated": false
    }
  ],
  "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/gusto-investment-services-llc-san-francisco-ca-281515.md",
  "clients": [
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 50388,
      "fewer_than_5": false,
      "raum": 12303056955.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 27676,
      "fewer_than_5": false,
      "raum": 395385396.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "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/281515",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}