Managed Account Letters and Duplicate Statements

TABLE OF CONTENTS

• What is a 3210 letter?
• How can I find my managed account letter?
• What if my employer needs duplicate statements?
• What about my spouse?
• What is a data feed?

What is a 3210 letter?

A 3210 letter—formerly known as a 407 letter—refers to the written permission that an employer gives for certain member employees to hold investments. Firms can also request to receive duplicate account statements so that they can see the securities held in a member’s personal investment accounts.

Your employer can email your 3210 letter of approval to approvals@betterment.com.

How can I find my managed account letter?

There are two ways to get a managed account letter from us, which is sometimes also referred to as a discretionary account letter.

Upon Signing Up

When you set up your account for the first time, you will be asked if you are employed by or associated with a broker-dealer. If you choose yes, you can enter the name of your employer and a managed account letter will be automatically generated for you. You will be able to find it in your account under Documents > Other Documents.

If you’ve already signed up and entered your employer’s name, head directly to the Other Documents section and download your managed account letter.

Upon Request

If your employer asks you to provide a managed account letter after you have already signed up, we are happy to generate one for you.

Please email approvals@betterment.com from the email address associated with your Betterment account. We will generate and place your letter in your account under Documents > Other Documents.

After you’ve spoken with us, head directly to the Other Documents section and download your managed account letter.

What if my employer needs duplicate statements?

Some employers require us to send copies of your monthly or quarterly statements to them for compliance review. The only way we can currently send these is through the mail.

Your employer can email your 3210 letter to approvals@betterment.com, and we’ll mail statements to your compliance department per the instructions in the letter.

What about my spouse?

If your employer requires a managed account for your spouse’s Betterment account, please have your spouse email approvals@betterment.com. We will generate a letter and place it in their account under Documents > Other Documents.

If your employer requires duplicate statements for your spouse’s Betterment account, please provide us with the 3210 letter from your compliance department, and statements will be mailed to them at the address they provide in the letter.

What is a data feed?

Some firms will not accept trading information in paper form, and require that outside firms send electronic data feeds of employee activity. If your firm already has an electronic data feed set up with us, please reach out to your compliance department to determine next steps.

If your firm is interested in setting up a data feed, please have your compliance department email approvals@betterment.com.

Back to Top