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Client Agreement Updates

On April 25, 2024, we updated our Betterment client agreements and Betterment for Advisors client agreements. The revisions are effective as of May 25, 2024. Please review the latest version applicable to our services to you. 

Below is an overview of the changes. Please note that this is a summary only and is not intended to be comprehensive.

Betterment Client Agreements

  • To streamline the client agreements and promote readability, we restructured our client agreements to create a set of “Common Provisions” that are incorporated into both the Advisory Agreement and Brokerage Agreement. Certain provisions that previously appeared in both (or, in some cases, only one) of the agreements have been moved to the Common Provisions. This includes the arbitration clause and class action waiver, which now appear at Section 36 of the Common Provisions.
  • We also relocated information regarding certain products and services describing how those products and services function. Product and services disclosure information is available on our Products and Services Disclosures page. Please review the disclosures linked on that page, including the following new disclosures and terms:
  • We removed terms relating to the Betterment Advisor Network referral program, which has been discontinued. Clients referred to an advisor through the Betterment Advisor Network program are subject to the Betterment for Advisors Client Agreements.
  • We updated the “Telephone Calls and Recordings” section of the Common Provisions to describe how Clients may elect to be placed on Betterment’s Do-Not-Call list and certain related limitations.
  • We updated the “Client’s Responsibility” section of the Common Provisions to make clear that Betterment is not liable for unauthorized withdrawals that occur prior to receiving notice from Client that such withdrawals were unauthorized.
  • We updated the “Limitation” sections of our Advisory Agreement and Brokerage Agreement.
  • We revised our Wrap Fee Schedule to reflect changes to our Premium plan pricing. These changes go into effect on April 25, 2024 for clients that enroll in the Premium plan on or after that date.

Betterment for Advisors Client Agreements

  • To streamline the client agreements and promote readability, we restructured our client agreements to create a set of “Common Provisions” that are incorporated into both the Sub-Advisory Agreement and Brokerage Agreement. Certain provisions that previously appeared in both (or, in some cases, only one) of the agreements have been moved to the Common Provisions. This includes the arbitration clause and class action waiver, which now appear at Section 32 of the Common Provisions.
  • We also relocated information regarding certain products and services describing how those products and services function. Product and services disclosure information is available on our Betterment for Advisors Agreements & Disclosures page. Please review the disclosures linked on that page.
  • We updated the “Telephone Calls and Recordings” section of the Common Provisions to describe how Clients may elect to be placed on Betterment’s Do-Not-Call list and certain related limitations.
  • We updated the “Client’s Responsibility” section of the Common Provisions to make clear that Betterment is not liable for unauthorized withdrawals that occur prior to receiving notice from Client that such withdrawals were unauthorized.
  • We updated the “Limitation” sections of our Sub-Advisory Agreement and Brokerage Agreement.