Betterwealth LLC (San Jose)


Betterwealth LLC is a large advisory firm based in San Jose. It manages $252.37 million of regulatory assets for 1,083 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Oregon, and Texas.

Betterwealth provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Betterwealth: assets under management

The assets under management (AUM) of Betterwealth LLC is $252.37 million. The firm's AUM has grown by 145% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $245.42 million in discretionary accounts and $6.95 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $229.58 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $496.34 thousand.
Betterwealth has custody of $24.43 million in cash and securities for 296 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 48% of the total AUM. The second-largest asset type is state and local bonds, which make up 22% of the firm’s portfolio. Investments in exchange traded securities form 19% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Betterwealth LLC for their services and products based on a percentage of assets under management, hourly charges, 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.

What kind of clients Betterwealth serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Betterwealth is high net worth individuals with 137 clients and $193.85 million of assets under management. Among the 6 most similar advisory firms, Betterwealth has the 3rd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $252.37 million for 316 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.

Betterwealth doesn't advise any private funds.

Careers at Betterwealth LLC

The company employs 5 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
W Scott Stauffer Managing partner/ceo/chief compliance officer 1 May 2015 75% - 100% 4488351
Winfield Scott Stauffer Managing member/ceo/chief compliance officer 1 May 2015 75% - 100% 4488351
Suzanne H Cox Chief operating offcier 1 Jun 2015 Other 2318241
Andrew Lane Howard Principal 1 Jan 2018 25% - 50% 4752191

Based in San Jose

The principal office where Betterwealth LLC performs its advisory services is located at 1475 Saratoga Avenue, San Jose, CA 95129, 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 866-659-2522 or by fax 408-659-2391. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday.