Betterment LLC is a large advisory firm based in New York. It manages $16.4 billion of regulatory assets for 542,046 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.
Betterment provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for approximately 900 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Betterment LLC is $16.4 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 1772% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has several streams of revenue. Clients pay Betterment LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Betterment is individuals with 417,088 clients and $13.34 billion of assets under management. Among the 7 most similar advisory firms, Betterment has the highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $16.4 billion for 419,543 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.
Betterment doesn't advise any private funds.
The company employs 245 people that are either part- or full-time employees. 7 percent of the employees work as investment advisers or researchers. 8 employees are registered as investment adviser representatives with the state securities authorities.
There are 57,287 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Betterment LLC performs its advisory services is located at 61 West 23 Rd Street, New York, NY 10010, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 203-518-6993 or by fax N/A. The normal business hours are 9:30 - 6:00 on Monday - Friday. You can find more information about the New York firm at betterment.com and its LinkedIn profile.