Clients
Betterment serves 1,022,488 clients, 992,194 of them other individuals. The average client has about $68,000 with the firm, and high-net-worth clients hold 25% of its $69.5 billion in assets.
- Individuals992,194 clients67%
- High-net-worth individuals24,685 clients25%
- Pension and profit-sharing plans4,792 clients8%
- OtherCharitable organizations, Corporations and other businesses1%
What it does
Betterment provides financial planning, portfolio management for individuals and small businesses, pension consulting and educational seminars. It is paid through a percentage of assets.
Betterment provided financial planning to 2,000 clients last fiscal year and advises no private funds.
99.8% of assets ($69.40B across 1,334,211 accounts) are managed with discretion; $123.2M across 10,272 accounts are not. $69.52B sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 246 clients received advice without assets under management last fiscal year.
Show the full tableHide the full table
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 992,194 | $46,630,077,847 | 67.1% | $47K |
| High-net-worth individuals | 24,685 | $17,119,725,381 | 24.6% | $694K |
| Pension and profit-sharing plans | 4,792 | $5,425,833,946 | 7.8% | $1.13M |
| Charitable organizations | 11 | $1,259,571 | 0.0% | $115K |
| Corporations and other businesses | 806 | $347,596,241 | 0.5% | $431K |
| Total | 1,022,488 | $69,524,492,986 | 100% | $68K |
- Regulatory AUM
- $46,630,077,847
- Share
- 67.1%
- Avg. per client
- $47K
- Regulatory AUM
- $17,119,725,381
- Share
- 24.6%
- Avg. per client
- $694K
- Regulatory AUM
- $5,425,833,946
- Share
- 7.8%
- Avg. per client
- $1.13M
- Regulatory AUM
- $1,259,571
- Share
- 0.0%
- Avg. per client
- $115K
- Regulatory AUM
- $347,596,241
- Share
- 0.5%
- Avg. per client
- $431K
What the accounts hold
- Funds79%
- Cash21%
Custodians
Betterment’s client accounts are held mainly at MTG, with 96% of managed assets. Betterment has custody of $69.52B for 1,017,091 clients.
- MTGMTG, LLC · New York, NY · $66.84B96%
- All other custodians$2.69B4%
Ownership and leadership
Betterment Holdings, Inc. owns 75% or more of Betterment, and Sarah Levy is its CEO.
- Owns 75% or more of Betterment LLC
Betterment Holdings, Inc.
Control person · since April 2009
Leadership
- Sarah LevyChief Executive Officer
- Peter LorimerChief Financial Officer
- Khaley SestakChief Compliance Officer
- Seth RosenbloomGeneral Counsel
Staff
- 794 employees
- 34 in advisory functions
- 29 state-registered reps
- 34 broker-dealer reps
- 12,225 soliciting firms
Reported holdings
Betterment’s reported 13F holdings total $59.1M across 675 positions, and the ten largest make up 67.3% of it.
- $59.1M
- Reported 13F value
- 675
- Positions
- 67.3%
- In the 10 largest
- +12.0%
- Value vs. prior quarter
- Vanguard Tax Managed Intl FD · Van FTSE Dev Mkt16.7%
- Vanguard Index Fds · Total Stk Mkt15.0%
- SPDR State Street Global Advisors · State Street Spd14.5%
- Vanguard Intl Equity Index F · FTSE Emr Mkt ETF5.4%
- iShares TR · National Mun ETF3.8%
- iShares TR · Core S&P Ttl Stk2.9%
- iShares TR · Core US Aggbd ET2.6%
- J P Morgan Exchange Traded · Core Plus BD ETF2.3%
- SPDR State Street Global Advisors · State Street Spd2.2%
- SPDR State Street Global Advisors · State Street Spd1.9%
Together, the ten largest are 67.3% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $59.1M is not its $69.52B in regulatory assets and does not represent any individual client's portfolio.
Fees
Betterment is paid through a percentage of assets under management.
Betterment’s fee rates are not included in this profile. Read its fee schedule in its SEC-filed brochure.
Offices and registrations
Besides its headquarters, Betterment has 0 offices, with 1 listed address in 1 state.
New York · 1 listed address
- 450 West 33rd Street, Floor 11, New YorkHQ
Other business names
Betterment has reported 1 other business name to the SEC.
- Betterment
Registration details
- Legal name
- Betterment LLC
- Headquarters
- 450 West 33rd Street, Floor 11, New York, NY 10001
- Phone
- 212-228-1328
- Website
- www.betterment.com
- SEC file
- 801-70171
- Structure
- Delaware LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Betterment have?
Betterment has 1,022,488 clients and manages $69.5 billion for them, as of July 2026. They include 992,194 other individuals, 24,685 high-net-worth individuals and 4,792 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 July 2026
What services does Betterment offer?
Betterment provides financial planning, portfolio management for individuals and small businesses, pension consulting and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Betterment use?
Betterment’s separately managed account assets are held at MTG, LLC (New York, NY), with $66,836,084,335. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 July 2026
How many financial advisors does Betterment have?
Betterment has 29 investment adviser representatives registered with state securities authorities, out of 794 employees, and 34 perform investment advisory functions. 34 are registered representatives of a broker-dealer and 0 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Betterment invest in?
At the end of its last fiscal year, Betterment’s separately managed accounts held 79% registered funds (mutual funds, ETFs, BDCs) and 21% cash and equivalents. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Betterment?
Betterment’s direct owner is Betterment Holdings, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 31 July 2026
How does Betterment get paid?
Betterment is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file