Betterment Statistics 2026: Assets Under Management (AUM), number of users, Revenue, & More

Betterment is one of the leading robo-advisors in the United States, offering fully automated investment management. Founded in 2008, it has grown into one of the largest independent players in the sector, popular with investors for its diversified, low-cost portfolios and straightforward platform.

In this article we examine the latest Betterment statistics, including its assets under management (AUM), client numbers, revenue, and related metrics. Together these offer a useful view of the company’s growth and how it has fared against increasingly well-funded competition from incumbent asset managers.

Whether you already use Betterment, are considering it, or simply follow the robo-advisory industry, this article brings together the current figures.

Overview

Betterment is a US-based robo-advisor offering automatically managed portfolios built from low-cost ETFs, designed around a diversified, passive investment approach. Core features include socially responsible investing options, automatic rebalancing, tax-loss harvesting, personalised retirement planning, and access to financial advisers.

The platform is structured in tiers: the standard Digital service charges an annual management fee, while Betterment Premium adds unlimited access to certified financial planners for clients with balances above $100,000. Notably, Betterment Premium now stands largely alone in that segment following Schwab’s decision to discontinue its hybrid Intelligent Portfolios Premium service in 2026.

Betterment has broadened its offering considerably over the years. It acquired Makara, a crypto portfolio manager, in 2022, and has since expanded into cash management with an FDIC-insured high-yield Cash Reserve account and a Checking account with a debit card. It has also built a substantial business serving independent financial advisers through Betterment Advisor Solutions, and offers Betterment at Work, a 401(k) platform for employers – both of which have become meaningful growth drivers alongside the retail robo-advisory service.

Here are the key corporate facts:

• Founded: 2008;
• Headquarters: New York, United States;
• Founders: Jon Stein and Eli Broverman;
• CEO: Sarah Levy (appointed December 2020);
• Sector: financials;
• Industry: robo-advisory, investment management;
• IPO status: privately held, with no public listing to date;
• Number of employees: 600+ (August 2026).

Ownership

Betterment is privately held, backed by more than 30 investors including its founders and a range of venture capital firms across several funding rounds. Its most recent disclosed round was a $60 million Series F extension in 2021, which valued the company at approximately $1.3 billion.

Founder Jon Stein stepped down as CEO in December 2020, succeeded by Sarah Levy, previously COO of Viacom. The transition was widely read at the time as preparation for an eventual public listing, though Betterment has not confirmed any such plans and no IPO has taken place.

Here are Betterment’s major investors:

Betterment investors

Betterment users

Since launch, Betterment has attracted a broad range of clients, from young professionals to retirees, drawn by its low-cost passive approach and straightforward interface. In 2014 it became the first automated investing service to pass 50,000 customers, and by 2019 the client base had grown beyond 500,000.

As of 2026, Betterment serves over 1 million customers across its investing and cash management products, with assets under management exceeding $65 billion.

Betterment users per year

Betterment does not disclose active user numbers, only total customers, and has reported “over 1 million” on its website since 2023 without updating the figure further. That makes the last four rows of the table less informative than they appear: growth may well have continued, but Betterment has simply stopped publishing a more precise number.

Assets under management are the better growth indicator here. AUM rose from roughly $22 billion in 2021 to over $65 billion by 2026, driven by market appreciation, continued net inflows, and expansion into the adviser and workplace retirement channels through Betterment Advisor Solutions and Betterment at Work.

Betterment AUM

Betterment’s assets under management have grown substantially over time. The company crossed the $1 billion threshold in 2014, and in 2017 became the first independent online financial adviser to reach $10 billion in AUM, helped by a low minimum balance that opened the platform to a broad client base.

As of May 2026, Betterment manages more than $65 billion on behalf of its clients.

Two things have driven that growth beyond market appreciation. The first is diversification of the business: Betterment Advisor Solutions, serving independent financial advisers, and Betterment at Work, its 401(k) platform for employers, now contribute meaningfully alongside the original retail proposition. The second is consolidation in the sector, with several competitors either exiting the automated advice market or narrowing their offering, leaving Betterment as one of the few independent robo-advisors operating at scale.

Betterment AUM by year

The 2024-2025 period stands out: AUM rose from around $45 billion to over $63 billion, a jump of roughly 40% in a single year. That reflects a combination of strong equity market performance and continued net inflows, particularly through the adviser and workplace channels rather than retail alone.

Whether that pace continues is less certain. Betterment competes against far larger incumbents – Vanguard, Schwab, and Empower all operate automated advice offerings backed by vastly greater distribution – and its growth is also sensitive to market conditions, since a meaningful portion of AUM growth in any given year comes from appreciation rather than new money. What has clearly worked is the shift beyond retail robo-advisory into adviser and employer channels, which is where much of the recent momentum has come from.

Betterment average account size

While Betterment does not publicly disclose the average account size of its users, it is possible to estimate this figure based on available data. According to Betterment’s SEC filings, the company had +1,000,000 accounts with $63 billion in assets under management as of October 2025. This gives an average account size of approximately $63,000.

By following the same calculation, we get the following breakdown by year:

Betterment average account size

It is important to note that this is an estimated calculation. It may not accurately reflect the true average account size. The actual average account size could be higher or lower, depending on the reporting date and fluctuations in market conditions during the year. Nevertheless, this estimated average account size gives us some insight into the typical account size of a Betterment user.

Betterment valuation

Betterment’s valuation has risen steadily since inception, with a particularly sharp jump between 2014 and 2015. The company has completed around ten funding rounds, the most recent in September 2021, raising $160 million in growth capital at a valuation of roughly $1.3 billion.

Because Betterment is privately held, subsequent valuations come from secondary sources rather than primary funding rounds. In December 2022, Kinnevik, which holds a stake in Betterment, marked its holding at a level implying a total valuation of around $1.03 billion. Later estimates put the company at roughly $1.15 billion in 2023 and back near $1.3 billion in 2024. Kinnevik’s most recent quarterly report, covering March 2026, implies a valuation of approximately $1.36 billion.

Worth noting the disconnect: Betterment’s AUM roughly doubled between 2021 and 2026, from around $28 billion to over $65 billion, while its valuation moved only marginally from $1.3 billion to $1.36 billion. That gap reflects the broader repricing of fintech valuations since 2021 rather than anything specific to Betterment’s performance, and it is a useful reminder that private company marks lag operating results in both directions.

Betterment valuation by year

Valuations from 2022 onwards are derived from secondary sources, including Kinnevik’s quarterly holding valuations, rather than primary funding rounds. Private company marks are estimates and can differ materially between sources.

Betterment has made no official announcement regarding a public listing, and none appears imminent. The 2020 CEO transition from founder Jon Stein to Sarah Levy was widely read at the time as preparation for an eventual IPO, and the company has since been described by market analysts as well positioned for one in the medium term.

Two things would likely need to shift first. Public market appetite for fintech has been considerably more selective since 2021, though the successful listings of Wealthfront in December 2025 and eToro in May 2025 suggest that window has reopened somewhat. And Betterment’s valuation has been broadly flat for five years despite AUM more than doubling, which is not the trajectory a company typically wants to present to public investors.

If Betterment does list, it would join Wealthfront as one of the few pure-play robo-advisors with publicly reported financials – a development that would give the sector a great deal more transparency than it currently has.

Betterment revenue

Betterment generates revenue through several streams, with portfolio management fees remaining the largest contributor. The company charges between 0.25% and 0.65% in annual management fees depending on account type, client balance, and whether the client is on the standard Digital tier or Premium. Beyond that, Betterment earns interchange revenue from its checking debit card, income from partner banks through its Cash Reserve product, fees for on-demand financial consultations, and revenue from Betterment at Work, its 401(k) platform for small and mid-sized employers.

The business has also broadened considerably in recent years, adding crypto investing, automated tax-loss harvesting, and tiered advice packages, alongside Betterment Advisor Solutions – the custody and technology platform serving independent financial advisers, which has become a meaningful contributor in its own right.

As a privately held company, Betterment is not required to publish financial statements. Analysts estimated revenue at roughly $50 million in 2018. With AUM now exceeding $65 billion, management fees alone would plausibly generate well over $150 million annually at a blended rate around the middle of its fee range. Including the other revenue lines, total revenue is likely somewhere in the region of $170 to $200 million per year.

Treat those figures as informed estimates rather than reported results. Betterment discloses no revenue data, and the calculation depends on assumptions about the blended fee rate across account tiers and how much of AUM sits in lower-fee institutional and adviser channels – both of which materially change the answer.

Conclusion

Betterment has established itself as one of the most successful independent robo-advisors, with over $65 billion in assets under management and more than 1 million clients, placing it among the largest robo-advisors by AUM. Its appeal rests on low-cost, automated portfolio management delivered through a platform that remains genuinely straightforward to use.

Two things stand out from the figures in this article. The first is how much the business has diversified: what launched as a retail robo-advisor now derives substantial growth from Betterment Advisor Solutions and Betterment at Work, serving financial advisers and employers rather than individual investors directly. That shift is a large part of why AUM has more than doubled since 2021.

The second is the gap between operating growth and valuation. AUM doubled over five years while Betterment’s implied valuation moved from $1.3 billion to roughly $1.33 billion – a reminder that private company marks track public market multiples rather than business performance.

Betterment remains privately held, so much of what we have compiled here comes from regulatory filings, third-party valuations, and company statements rather than audited financial reporting. That may change: with Wealthfront having listed in December 2025, the sector now has at least one publicly reported comparison point, and a Betterment listing would add another.

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