Additional Advisory Services Terms & Conditions

Updated February 6, 2024

These Additional Advisory Services Terms & Conditions are entered into by Client and Betterment LLC (“Betterment”). Capitalized terms used but not defined in these Terms have the meanings set forth in the Betterment at Work Master Services Agreement (“MSA”). Except as expressly provided in these terms, all of the terms, conditions and other provisions of the MSA and Statement of Work (together, the “Services Agreements”) are incorporated herein and shall continue to be in full force and effect.

By executing the Services Agreements and making the Additional Advisory Services described below available to its Participants, Client agrees to the following terms: 

  1. Additional Advisory Services. Betterment agrees to provide Participants with the opportunity to receive non-discretionary investment advisory services consisting of telephone or video consultations with a licensed financial consultant affiliated with Betterment (“Betterment Consultant”), who will provide personalized financial planning advice and information relating to particular financial topics including Participants’ use of the Betterment platform and general financial education, information relating to debt (such as student loans and credit card debt), mortgages, and savings, and retirement information (the “Additional Advisory Services”). Client understands and agrees that such Additional Advisory Services do not constitute legal advice or advice requiring licensure as a Certified Public Accountant. 

    Additional Advisory Services consultations may be scheduled without charge to the Participant at times agreed upon in advance by the Participant and the Betterment Consultant providing such Additional Advisory Services. Participants will be entitled to an unlimited number of telephone and/or video consultations per year with a Betterment Consultant, subject to the availability of such Betterment Consultants, which may be adjusted to take into account scheduling needs of other Betterment clients. Betterment uses a team-based approach to providing Additional Advisory Services: if a Participant schedules multiple consultations, the Participant is likely to interact with multiple Betterment Consultants. Consultations will be scheduled on Business Days during Betterment’s normal business hours. 
  2. Limitations. Client acknowledges that Participants will be under no obligation to accept or follow any recommendations made by the Betterment Consultant during such consultations and neither Betterment nor the Betterment Consultant will have any discretion over any Participant’s assets or accounts with respect to the implementation of such recommendations. Client acknowledges that the Betterment Consultant is not an attorney or accountant, and no information or advice given to a Participant through the Additional Advisory Services should be interpreted as legal or tax advice. Client further acknowledges that certain financial topics, such as investments in real estate, may fall outside the scope of the Additional Advisory Services.

    Client acknowledges that any financial planning advice provided in connection with the Additional Advisory Services shall be based on information provided by Participant to the Betterment Consultant, and the Betterment Consultant will not be required to independently verify any such information. Betterment shall rely on such information and cannot be held responsible for any recommendations based on inaccurate or incomplete information. Client acknowledges that if a Participant provides false, inaccurate, or incomplete information to Betterment, the financial planning advice that Betterment provides through the Betterment Consultant may not match the Participant’s needs.  

    To the extent Client is allocating access to Additional Advisory Services among Participants, Betterment understands that Client will not favor highly compensated individuals in making such sessions available to such individuals.  
  3. Term and Amendment. These Terms shall apply so long as the Services Agreements are in effect, provided that either party may terminate the Additional Advisory Services at any time for any reason upon forty-five (45) days advance written notice to the other party. Client shall be responsible for Additional Advisory Services fees set forth in the Statement of Work, if any, incurred prior to the termination. Betterment reserves the right to amend these terms and conditions and to make changes to the Additional Advisory Services at any time in its sole discretion.