Partner Referral Program Terms and Conditions

To enroll in the offer, you must click on the offer link in your email, complete the Qualified Contact Referral information form, and agree to these terms. By referring prospective clients to Betterment at Work, you are acting on behalf of Betterment LLC (“Betterment”), an SEC registered investment adviser, and agree to make referrals consistent with these terms.

This offer is only available to current Betterment at Work 401(k) plan clients in good standing who make a Qualified Referral on or before December 31, 2024. 

A “Qualified Referral” is a prospective referral to Betterment at Work of a new or conversion tax-qualified 401(k) plan (“Plan”) with more than 50 Active Employees not currently serviced by Betterment at Work, where a decision-maker from the prospective Plan attends a product demonstration meeting with a member of the Betterment at Work sales team. Betterment in its sole discretion will determine whether referral information you submit constitutes a Qualified Referral following the product demonstration meeting with the prospective Plan. “Active Employees” is defined as (i) eligible participants for new 401(k) plans, and (ii) active participants already contributing to the plan for conversion plans. Betterment at Work clients can make up to four Qualified Referrals.  

If you make a Qualified Referral, a $250 credit will be automatically applied to your upcoming plan fees at the time of your next quarterly billing statement, and any excess amount of such credit will be applied to offset future plan fees. This offer cannot be applied to fees assessed to individual participant accounts and cannot be applied to fees charged by a third-party Advisor servicing your plan. 

You will not receive more than four $250 credits for Qualified Referrals (for a maximum possible compensation of $1000 in fee credits). Once you have successfully made four Qualified Referrals, you do not become eligible for additional Qualified Referral fee credits under this offer. Even when you are not eligible to receive additional fee credits, you will be permitted to send Qualified Referrals to Betterment at Work.

This offer is non-transferable, available to plans only in the U.S., and can be revoked by Betterment at any time. This offer does not favor highly compensated employees. Tax information provided by Betterment is not a substitute for the advice of a qualified tax advisor. You should consult with your tax advisor to discuss tax-related concerns. 

Betterment reserves the right to limit the discounts you are eligible to receive, and to refuse or recover a discount if Betterment determines that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account, or that any terms of the Betterment at Work Master Services Agreements, Betterment Participant Terms & Conditions and/or any other Betterment agreements have been violated. Please see additional information at www.betterment.com.

You represent and warrant that you have informed Betterment, in writing, of any conflicts of interest between your plan and Betterment (e.g., an investor in your company is also an investor in Betterment) as of the date of the referral (the “Referral Date”). If a conflict between you and Betterment subsequently arises, you must notify Betterment in writing to support@betterment.com within 5 business days.

By making a Qualified Referral, you represent and warrant that you are not an “ineligible person” as defined in 17 CFR § 275.206(4)-1, also known as Rule 206(4)-1 of the Investment Advisers Act of 1940 (the “Marketing Rule”). This means that you have not been subject to a disqualifying action by the SEC or a Disqualifying Event (defined below) in the last 10 years. Betterment conducts periodic reviews to ensure you had no Disqualification Events, and you acknowledge and agree to such reviews as a condition of your participation in this referral program. 

“Disqualification Events” are:

1. Making false or misleading registration statements to the SEC
2. Convictions of felony or misdemeanor crimes (A) involving securities, false oaths, false reports, bribery, perjury, burglary, or conspiracy to commit any of those offenses, (B) arising out of conduct of the business of a broker-dealer, securities dealer, investment adviser, bank, insurance company, or fiduciary (among other securities-related businesses), (C) involving larceny, theft, robbery, extortion, embezzlement, forgery, counterfeiting, fraud, misappropriation of funds or securities, (D) violations of the federal securities laws, (E) punishable by imprisonment for 1 or more years, or (F) substantially equivalent crimes by foreign courts.
3. Permanent or temporary injunctions from acting as an investment adviser, broker-dealer, underwriter, or similar function
4. Wilful violations of the Securities Act of 1933, including wilfully aiding, abetting, counseling, or inducing another person to violate the Securities Act of 1933
5. Subject to any order of the SEC barring or suspending your rights to be associated with an investment adviser
6. Being found by a foreign financial regulatory authority to have engaged in any of the above conduct
7. Being found by a final order of any State securities commission (or agency performing similar functions) to have engaged in any of the above conduct.