# Betterment

Betterment is a Bank / Wealth / Trust based in New York, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 450 West 33rd Street Floor 11, New York, NY, United States
- **Founded:** 2009
- **Assets under management:** $70B+
- **Website:** www.betterment.com
- **LinkedIn:** https://www.linkedin.com/company/betterment

## Regulatory record

- **CRD number:** 149117
- **SEC file number:** 801-70171
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-05-15T05:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/149117

## About

Betterment was established in 2009 as a US wealth manager and registered investment advisor. It focuses on advisory services for individuals, trusts, employer-sponsored plans, and legal entities. The firm provides portfolio management and financial planning. Asset classes center on equities, fixed income, and cash equivalents through automated allocation. Geographic reach stays within the United States. Betterment reports 5000 million USD in assets under management. No additional offices or team size figures appear in available records. No dated operational events from the last 24 months are documented. The firm functions as a direct-to-client platform without disclosed ties to external fund structures or family wealth vehicles.

## Sectors

- FinTech
- Private Credit

## People

- Sarah Levy — Chief Executive Officer
- Mike Reust — President
- Peter Lorimer — Chief Financial Officer
- John Mileham — Chief Technology Officer
- Boris Khentov — SVP, Investing & Capital Markets

## Questions

### Who makes investment decisions at Betterment?

Betterment's portfolios are designed and managed by the firm's investing and capital markets team, led by SVP Boris Khentov. The CEO is Sarah Levy, who oversees strategy. Day-to-day portfolio adjustments are systematic, based on proprietary algorithms for rebalancing and tax-loss harvesting.

### How does Betterment generate proprietary deal flow?

Betterment does not source proprietary private-market deals. It invests solely in publicly traded ETFs and bonds through its automated platform, using a curated set of portfolio strategies. It is not a venture or private-equity firm.

### Is Betterment a brokerage or a robo-advisor?

Betterment operates as an RIA (registered investment advisor) and also provides brokerage services through Betterment Securities, a registered broker-dealer. Clients hold accounts that allow investing in ETFs, bonds, and cash products under Betterment's advisory model.

### Does Betterment offer access to human advisors?

Yes, Betterment offers one-on-one financial planning and advice services for an additional fee, in addition to its core automated investing product. Clients can speak with advisors by phone or schedule a call.

### What asset classes does Betterment invest in?

Betterment's portfolios include U.S. and international stocks, bonds, real estate (via REITs), commodities, and cash. It also offers thematic portfolios that tilt toward innovative technology, climate impact, and social impact, as well as a crypto ETF portfolio tracking Bitcoin and Ethereum.

### What is Betterment's fee structure?

Betterment charges an annual advisory fee of 0.25% for its digital plan (automated investing) and 0.40% for its premium plan (includes unlimited access to financial advisors). No commission or management fees are charged on trades. The Cash Reserve account has no fees.

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Last updated: 2026-07-08T20:58:27.348Z

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