Clients
Gusto Investment Services serves 78,064 clients, 50,388 of them pension and profit-sharing plans. The average client has about $163,000 with the firm.
- Pension and profit-sharing plans50,388 clients97%
- Other27,676 clients3%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Pension and profit-sharing plans | 50,388 | $12,303,056,955 | 96.9% | $244K |
| Other | 27,676 | $395,385,396 | 3.1% | $14K |
| Total | 78,064 | $12,698,442,351 | 100% | $163K |
- Clients
- 50,388
- Regulatory AUM
- $12,303,056,955
- Share
- 96.9%
- Avg. per client
- $244K
- Clients
- 27,676
- Regulatory AUM
- $395,385,396
- Share
- 3.1%
- Avg. per client
- $14K
Total
- Clients
- 78,064
- Regulatory AUM
- $12,698,442,351
- Share
- 100%
- Avg. per client
- $163K
What it does
Gusto Investment Services provides portfolio management for individuals and small businesses and pension consulting. It is paid through a percentage of assets.
Gusto Investment Services advises no private funds.
71.7% of assets ($9.11B across 475,580 accounts) are managed with discretion; $3.59B across 52,272 accounts are not. 0% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Funds99%
- Cash1%
Custodians
Gusto Investment Services’ client accounts are held mainly at Benefit Trust, with 3% of managed assets. Gusto Investment Services has custody of client assets.
- Benefit TrustBenefit Trust Company · Leawood, KS · $395.4M3%
- All other custodians$12.30B97%
Ownership and leadership
Gusto Retirement Holdings, LLC owns 75% or more of Gusto Investment Services.
- Owns 75% or more of Gusto Investment Services, LLC
Gusto Retirement Holdings, LLC
Control person · since April 2026
- Owns 75% or more of Gusto Retirement Holdings, LLC
Gusto, Inc.
Control person · since April 2026
Leadership
- Elizabeth MastrobattistoManager / Chief Compliance Officer
- Qian LiuManager
Staff
- 3 employees
- 2 in advisory functions
Fees
Gusto Investment Services is paid through a percentage of assets under management.
Gusto Investment Services’ fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Gusto Investment Services has 1 office, with 2 listed addresses in 1 state.
California · 2 listed addresses
- 525 20th Street, San FranciscoHQ
- 1412 Chapin Ave, Burlingame
Registration details
- Legal name
- Gusto Investment Services, LLC
- Headquarters
- 525 20th Street, San Francisco, CA 94107
- Phone
- 888-228-3491
- Website
- Not reported
- SEC file
- 801-106732
- Structure
- Delaware LLC
- Fiscal year end
- April
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 Gusto Investment Services have?
Gusto Investment Services has 78,064 clients and manages $12.7 billion for them, as of August 2026. They include 50,388 pension and profit-sharing plans and 27,676 other clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 18 August 2026
What services does Gusto Investment Services offer?
Gusto Investment Services provides portfolio management for individuals and small businesses and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Gusto Investment Services use?
Gusto Investment Services’ separately managed account assets are held at Benefit Trust Company (Leawood, KS), with $395,385,396. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 18 August 2026
How many financial advisors does Gusto Investment Services have?
Gusto Investment Services has 0 investment adviser representatives registered with state securities authorities, out of 3 employees, and 2 perform investment advisory functions. None are registered representatives of a broker-dealer or 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 Gusto Investment Services invest in?
At the end of its last fiscal year, Gusto Investment Services’ separately managed accounts held 99% registered funds (mutual funds, ETFs, BDCs) and 1% 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 Gusto Investment Services?
Gusto Investment Services is owned through a holding company by Gusto, Inc. Its direct owner is Gusto Retirement Holdings, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 18 August 2026
How does Gusto Investment Services get paid?
Gusto Investment Services 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
