Certification Regarding Investment Delegation

Updated January 2, 2024

 

By executing the Betterment at Work Master Services Agreement (“MSA”), you consent to this Certification, which sets forth Client’s representations and warranties regarding its investment authority with respect to Assets belonging to the Plan.

This Certification is made with respect to the Account identified in the Services Agreements (the “Account”); such Account being opened and maintained for the benefit of the Plan described in the Services Agreements.

By signing the MSA, Client represents, warrants and certifies:

  1. Client has appointed or will appoint Inspira Financial Trust, LLC (f/k/a Millennium Trust Company, LLC) as the nondiscretionary trustee (the “Trustee”) of the Plan trust (the “Trust”);
  2. As a nondiscretionary trustee, the Trustee will only act upon direction of the Client or, if so directed, an investment advisor or investment manager appointed by the Client with respect to Assets belonging to the Trust;
  3. Client has directed or will direct the Trustee that Betterment Securities is authorized to act as a brokerage firm and to open and maintain the Account for the Trust, and Betterment is authorized to act as an investment adviser to the Account for the Trust, in accordance with all agreements applicable to the Account (Betterment Securities and Betterment LLC hereafter collectively referred to as the “Firms”).
  4. Client has directed or will direct the Trustee that Betterment Securities is authorized to accept, hold and deliver Assets belonging to the Trust; to otherwise maintain custody, possession, and control of Assets belonging to the Trust.
  5. Client has directed or will direct the Trustee that Betterment LLC is an investment manager under ERISA 3(38) and as such, is authorized to manage the Assets of the Account on a discretionary basis and to provide other investment advice as an investment manager to the Trust.
  6. Client agrees to notify the Firms immediately in writing of any change that would cause this Certification become incorrect or incomplete.
Client hereby agrees to indemnify both of the Firms, and to hold them harmless against, any claims, judgments, surcharges, settlements, or other liabilities or costs of defense or settlement (including investigative and attorneys’ fees) arising out of any inaccuracies in the representations and warranties set forth herein. The representations, warranties, and obligations set forth in this Certification will survive the termination of the Account.