Wealth manager, wrap-program sponsor · New York, NY
Betterment
Betterment LLC · SEC-registered investment adviser · CRD 149117 · SEC 801-70171
At a glance
Betterment is an SEC-registered investment adviser based in New York, New York, with $69.5 billion in regulatory assets under management as of its Form ADV filed July 31, 2026. Its largest client group by assets is individuals, and it reports 1,016,879 individual clients. By Form ADV it is a wealth manager (wrap-program sponsor), ranked 30th of 8,915 wealth managers and 349th of 17,210 SEC-registered advisers by assets.
Main office 212-228-1328betterment.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $70B
- Rank among wealth managers
- #30 of 8,915
- Rank among all SEC RIAs
- #349 of 17,210
- Rank in New York
- #93 of 2,591
- Individual clients
- 1,016,879
- High-net-worth clients
- 24,685
- Accounts
- 1,344,483
- Discretionary
- 100% of AUM
- Employees
- 794
- Advisory staff
- 34
- Offices
- 1
Owners and executives on its Form ADV
- Peter B. LorimerChief Financial Officer
- Seth J. RosenbloomGeneral Counsel
- Khaley A SestakChief Compliance Officer
- Sarah K. LevyChief Executive Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Betterment is a hybrid RIA: 34 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: MTG, LLC.
- MTG, LLC ↗CRD 47788
An introducing broker-dealer: its trades clear through Apex Clearing, which holds the brokerage accounts. Its annual audited report filed with the SEC, February 2026
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Individuals | 992,194 | $47B | 67% |
| High-net-worth individuals | 24,685 | $17B | 25% |
| Pension and profit sharing plans | 4,792 | $5.4B | 8% |
| Corporations or other businesses | 806 | $348M | <1% |
| Charitable organizations | 11 | $1M | <1% |
Disciplinary disclosures
Betterment answers yes to 4 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Pension consulting
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
Form ADV and brochures on the SEC’s adviser search ↗betterment.com ↗
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The full record on Betterment
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 70 peers of its type and size
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- Owners and executives, with titles and stakes
- 4 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Betterment manage?
Betterment reports $69.5 billion in regulatory assets under management across 1,344,483 accounts, 100% of it on a discretionary basis, on its Form ADV filed July 31, 2026.
What kind of firm is Betterment?
Betterment is a wealth manager by its Form ADV answers. At least half of its regulatory assets are managed for individuals and high-net-worth individuals.
Who are Betterment’s clients?
By assets, its largest client types are individuals ($46.6 billion, 992,194 clients); high-net-worth individuals ($17.1 billion, 24,685 clients); pension and profit sharing plans ($5.4 billion, 4,792 clients).
Does Betterment have any disciplinary history?
Betterment answers yes to 4 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is Betterment’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-07-31), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →