FAQ: Agreement Automation Process
The Betterment Advisor Solutions Client Agreement Automation function will make onboarding your new clients fast, easy, and completely paperless.
Will my firm need to update our ADV and/or Client Agreement to reflect the incorporation of Betterment Advisor Solutions into my practice?
Yes, you will need to update your Form ADV Part 2A and most likely your Client Agreement to reflect the incorporation of Betterment Advisor Solutions into your practice, including (among other things) how your firm uses Betterment’s sub-advisory and brokerage services, and Betterment’s fees. Since each situation is unique, please consult with your attorney or compliance officer.
Can Betterment Advisor Solutions automate the signing of my agreement with my client?
Yes, you can provide PDF versions of your Client Agreement, Form ADV Part 2, and privacy policy to include as part of the electronic signup process a client undergoes with Betterment. We also provide reporting in your dashboard about which versions your clients have agreed to, and when. You can read more about our agreement automation feature, including legal disclosures, here.
If you choose to enable DocuSign for your firm, your clients will electronically sign your Client Agreement with a visible signature (including their name and the date signed) that appears on the downloaded PDF.
Note that DocuSign signatures apply to your firm’s Client Agreement only.
What relationship does the client have with Betterment?
Betterment acts as the sub-advisor to your client. You still remain the primary advisor to your client. When your client goes through the new account opening process, they will sign an agreement with Betterment directly as the sub-advisor, and, if you wish, an agreement with your firm directly as the primary advisor.
Am I able to see an archive of electronically executed client agreements? If so, what does this look like?
If you enable the agreement automation feature to deliver a paperless account opening process for your clients, an archive of the date and time stamp and the version of the agreement that each client electronically signed is housed on the "Client packages" page within the “Agreements” tab of the advisor dashboard.
You can download all signed agreement packages in bulk. Each agreement package includes your firm’s Client Agreement (with a visible DocuSign signature if you have DocuSign enabled), along with any firm disclosure documents you have uploaded—such as your Form ADV, Form CRS, and privacy policy—which reflect checkbox consent. Note that Betterment’s own agreements are not included in these packages.
To learn more about our agreement automation feature, please see here.