Asset manager · SAN Francisco, CA
Gusto Investment Services, LLC
SEC-registered investment adviser · CRD 281515 · SEC 801-106732
At a glance
Gusto Investment Services, LLC is an SEC-registered investment adviser based in SAN Francisco, California, with $12.7 billion in regulatory assets under management as of its Form ADV filed August 18, 2026. Its largest client group by assets is pension and profit sharing plans. By Form ADV it is a asset manager, ranked 460th of 3,218 asset managers and 1,173rd of 17,210 SEC-registered advisers by assets.
Main office 888-228-3491retirement.gusto.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $13B
- Rank among asset managers
- #460 of 3,218
- Rank among all SEC RIAs
- #1,173 of 17,210
- Rank in California
- #123 of 1,873
- Clients
- 78,064
- Accounts
- 527,852
- Discretionary
- 72% of AUM
- Employees
- 3
- Advisory staff
- 2
- Offices
- 2
Owners and executives on its Form ADV
- Elizabeth A. MastrobattistoManager / Chief Compliance Officer
- Qian LiuManager
Custody and brokerage
Broker-dealer
Affiliated broker-dealer
It names an affiliated broker-dealer: Gusto Brokerage, LLC.
- Gusto Brokerage, LLC ↗CRD 332412
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pension and profit sharing plans | 50,388 | $12B | 97% |
| Other | 27,676 | $395M | 3% |
Disciplinary disclosures
Gusto Investment Services, LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for individuals and small businesses
- Pension consulting
How it’s paid
- A percentage of assets under management
Form ADV and brochures on the SEC’s adviser search ↗retirement.gusto.com ↗
AtlasMembers
The full record on Gusto Investment Services, LLC
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
- Locked
- Growth over one, three and five years
- Locked
- Rank against 500 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 2 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 5Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Gusto Investment Services, LLC manage?
Gusto Investment Services, LLC reports $12.7 billion in regulatory assets under management across 527,852 accounts, 72% of it on a discretionary basis, on its Form ADV filed August 18, 2026.
What kind of firm is Gusto Investment Services, LLC?
Gusto Investment Services, LLC is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals.
Who are Gusto Investment Services, LLC’s clients?
By assets, its largest client types are pension and profit sharing plans ($12.3 billion, 50,388 clients); other ($395 million, 27,676 clients).
Does Gusto Investment Services, LLC have any disciplinary history?
Gusto Investment Services, LLC reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Gusto Investment Services, LLC’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 (2026-08-18), 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 →