{"url":"https://nivawealth.com/firms/gusto-investment-services-281515","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/281515","regulatoryAum":12698442351,"crd":"281515","secFileNumber":"801-106732","legalName":"Gusto Investment Services, LLC","displayName":"Gusto Investment Services","website":null,"founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"April","headquarters":{"street":"525 20th Street","city":"San Francisco","state":"CA","stateName":"California","country":"United States","postalCode":"94107"},"tradeNames":[],"registration":{"secApproved":"8 October 2015","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":3,"advisory":2,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":9108834416,"discretionaryAccounts":475580,"nonDiscretionary":3589607935,"nonDiscretionaryAccounts":52272,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Pension and profit-sharing plans","clients":50388,"regulatoryAum":12303056955},{"label":"Other","clients":27676,"regulatoryAum":395385396}],"fees":[],"feeNotes":[],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[{"name":"Benefit Trust Company","shortName":"Benefit Trust","location":"Leawood, KS","smaAssets":395385396}],"custodyNote":"Gusto Investment Services has custody of client assets.","otherCustodians":[],"leadership":[{"name":"Elizabeth Mastrobattisto","title":"Manager / Chief Compliance Officer","crd":"5667446"},{"name":"Qian Liu","title":"Manager","crd":"5562584"}],"ownership":[{"label":"Gusto Retirement Holdings, LLC","detail":"Sole owner in the 75% or more ownership band and a control person, since April 2026."},{"label":"Gusto, Inc.","detail":"Indirect owner: a sole owner of Gusto Retirement Holdings, LLC in the 75% or more band and a control person, since April 2026.","parent":"Gusto Retirement Holdings, LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":1,"privateResidences":0},"listedOfficeAddresses":2,"officesByState":[{"state":"California","offices":2,"addresses":[{"street":"525 20th Street","city":"San Francisco","headquarters":true},{"street":"1412 Chapin Ave","city":"Burlingame"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"888-228-3491","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management"],"activities":["Portfolio management for individuals and/or small businesses","Pension consulting services"],"financialPlanningClients":null,"assetMix":[{"label":"Securities issued by registered investment companies or business development companies","percent":99},{"label":"Cash and cash equivalents","percent":1}],"privateFunds":0},"sources":{"adv1FilingDate":"18 August 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/281515/PDF/281515.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Gusto Investment Services have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Gusto Investment Services offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Gusto Investment Services use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Gusto Investment Services have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Gusto Investment Services invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Gusto Investment Services?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Gusto Investment Services get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}