DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

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SEC-registered adviser

B•••••••••

Independent wealth managerNew York, New YorkCRD 149117SEC 801-70171websiteIAPD
Legal name B••••••••• L••
Latest filing Jul 31, 2026
First filing on the tape Nov 7, 2011 · 160 filings
SEC status approved since May 21, 2009
RAUM
$70B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
92%
$64B individuals and HNW
Advisors
28
registered through the firm on IAPD
RAUM per advisor
$2.5B
derived; firm RAUM over IAPD count
Employees
794
34 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
160 filings and snapshots on the tape
RAUM$70B as of Jul 31, 2026
Apr 3, 2012$36.0M then
HNW client RAUM$17B as of Jul 31, 2026
Mar 28, 2018$1.8B then
State-registered IARs (5.B.3)29 as of Jul 31, 2026
Apr 1, 20130 then
Employees (5.A)794 as of Jul 31, 2026
Apr 1, 201320 then
Private funds: no history
RAUM +23% over the last fiscal year+27% a year over threeIARs 24 to 29offices 1 to 0
Practice profile
derived from the filing of Jul 31, 2026; every figure names its basis
Archetypes, each a printed rule
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
  • Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
  • Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
RAUM per advisor
$2.5BderivedRAUM over IAPD advisors; not a book size
Clients per advisor
36,317derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$693,527derivedHNW RAUM over HNW clients
Average account
$51,711derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
7.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
28.4derivedItem 5.A over advisors
Advisors per office
28.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+23%derivedbetween the last two annual amendments
Advisor growth, one year
+21%derivedItem 5.B.3 between annual amendments
Client growth, one year
+11%derived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consulting, educational seminarsreportedItem 5.G
Financial planning clients
2,000reportedItem 5.H
Wrap fee program
$70BreportedItem 5.I
Custody
$70B, 1,017,091 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
  • the adviser acts as qualified custodian (9.D.1)
  • a related person acts as qualified custodian (9.D.2)
  • marketing includes testimonials (5.L.1.c)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$47B67%
  • High-net-worth individuals$17B25%
  • Pension and profit-sharing plans$5.4B7.8%
  • Corporations and businesses$348M0.5%
  • Charitable organizations$1.3M0.0%
Individual clients
992,194reported
HNW clients
24,685reported
Pension plan clients
4,792reported
Charitable clients
11reported
Accounts
1,344,483reported
Financial planning clients
2,000reported
Wrap fee programs
$0 sponsored, $0 managedreported
Custody of client assets
$70B for 1,017,091 clientsreported
Compensation
% of AUMreported
Class basis
private_client_share=0.92 fund_share=0.0 institutional_share=0.08 related_bd=true related_bank=false bd_reps=34.0derived
Advisors registered through the firm
28 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
N••••••• H••••••Certified Financial PlannerNew York, NyJan 12, 201812 y0
J••••••• W•••••New York, NyJun 21, 201810 y1
C••••• B•••••••• D••••••Certified Financial PlannerNew York, NyOct 17, 201811 y3
A••••• L•••••• N•••••••••New York, NyMar 30, 202110 y0
D••• C••••••• T•••••••••New York, NyMar 30, 202112 y0
K••• M••••••Certified Financial PlannerAlgonquin, Il Oct 25, 202113 y1
S••• K••••••Certified Financial PlannerNew York, NyNov 2, 202111 y4
A••• D••••• P•••New York, NyNov 19, 202112 y1
M•••• Y•New York, NyDec 6, 202112 y2
T•••• J•••• M••••Longmont, Co Oct 2, 202213 y0
R••••• J•••• H•••••••••New York, NyNov 14, 202211 y0
H••••• M•••• K••••••Certified Financial PlannerNew York, NySep 29, 202311 y1
C••••• J••••• T•••••••New York, NyMar 27, 202413 y0
M•••• L•••••••Certified Financial Planner, Chartered Financial ConsultantNew York, NyMar 27, 202412 y2
N••••• A••••• P••••••Certified Financial PlannerNew York, Ny Apr 25, 202410 y2
N•••••• K•• R•••••New York, NyJun 12, 202414 y1
E•• G••• S••••••New York, NyJul 23, 202413 y5
S••••••• L••••• B•••••••Certified Financial PlannerBoynton Beach, Fl Aug 30, 202411 y1
J••••• G••••New York, NySep 5, 202410 y0
C•••• A••• H•••New York, NyJan 1, 202512 y0
L•••• E••••• M••••••New York, NyJan 3, 202511 y0
M•••••• T••••••• R•••••••Scottsdale, Az May 24, 202514 y3
J••••• J••• B••••••New York, NyAug 22, 202517 y0
R••••• J••• G••••••••New York, NyAug 25, 202511 y2
R••• A••••••• F•••••••New York, Ny Aug 30, 202511 y0
D•••• A•••• C•••••••New York, NyJan 30, 202612 y1
B•••• M•••••••New York, NyJan 30, 202611 y4
C•••••••• H•••••••••Brooklyn, Ny May 4, 202613 y2
Advisor movement
1 left, 3 joined in 12 months
net +2 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 3.6% of current headcount4 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • L•••• S••••• K•••••••• · Chief Executive Officercontrol
    since 12/2020 · owns less than 5%
  • L••••••• P••••• B••••••• · Chief Financial Officercontrol
    since 10/2018 · owns less than 5%
  • R••••••••• S•••• J••••• · General Counselcontrol
    since 06/2020 · owns less than 5%
  • S•••••• K•••••• A• · Chief Compliance Officercontrol
    since 06/2020 · owns less than 5%
Entity owners
  • B••••••••• H•••••••• I••• · Managing Member, Parent Entity
    direct · owns 75% or more
Related persons
Schedule D 7.A
Advisers that list B••••••••• as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
New York, Ny · principal2830
New Port Richey, Fl001
Offices
Schedule D 1.F, the 25 largest
  • Denver, CO
  • Washington, Dc, DC
What changed
consecutive filings, newest first
  • Accounts · 1,200,673 to 1,344,483
    Feb 27, 2026 to Mar 30, 2026
  • Advisory employees · 33 to 34
    Feb 27, 2026 to Mar 30, 2026
  • BD registered reps · 33 to 34
    Feb 27, 2026 to Mar 30, 2026
  • Charity clients · 13 to 11
    Feb 27, 2026 to Mar 30, 2026
  • Corporate clients · 597 to 806
    Feb 27, 2026 to Mar 30, 2026
  • HNW clients · 19,186 to 24,685
    Feb 27, 2026 to Mar 30, 2026
  • Individual clients · 899,683 to 992,194
    Feb 27, 2026 to Mar 30, 2026
  • Pension plan clients · 4,298 to 4,792
    Feb 27, 2026 to Mar 30, 2026
  • Assets in custody · $56B to $70B
    Feb 27, 2026 to Mar 30, 2026
  • Employees · 631 to 794
    Feb 27, 2026 to Mar 30, 2026
  • State-registered IARs · 24 to 29
    Feb 27, 2026 to Mar 30, 2026
  • Other offices · 1 to 0
    Feb 27, 2026 to Mar 30, 2026
  • Discretionary RAUM · $56B to $69B
    Feb 27, 2026 to Mar 30, 2026
  • HNW RAUM · $12B to $17B
    Feb 27, 2026 to Mar 30, 2026
  • Individual RAUM · $40B to $47B
    Feb 27, 2026 to Mar 30, 2026
  • Non-discretionary RAUM · $0 to $123M
    Feb 27, 2026 to Mar 30, 2026
  • Pension RAUM · $3.8B to $5.4B
    Feb 27, 2026 to Mar 30, 2026
  • RAUM · $56B to $70B
    Feb 27, 2026 to Mar 30, 2026
  • Financial planning clients · More than 500 to More than 500
    Jun 30, 2025 to Jul 31, 2025
  • Accounts · 1,103,630 to 1,200,673
    Dec 20, 2024 to Mar 28, 2025
  • Advisory employees · 32 to 33
    Dec 20, 2024 to Mar 28, 2025
  • Advisory activities · 3 to 4
    Dec 20, 2024 to Mar 28, 2025
  • BD registered reps · 32 to 33
    Dec 20, 2024 to Mar 28, 2025
  • Charity clients · 7 to 13
    Dec 20, 2024 to Mar 28, 2025
  • Corporate clients · 273 to 597
    Dec 20, 2024 to Mar 28, 2025
  • HNW clients · 15,873 to 19,186
    Dec 20, 2024 to Mar 28, 2025
  • Individual clients · 827,627 to 899,683
    Dec 20, 2024 to Mar 28, 2025
  • Pension plan clients · 3,593 to 4,298
    Dec 20, 2024 to Mar 28, 2025
  • Assets in custody · $46B to $56B
    Dec 20, 2024 to Mar 28, 2025
  • Employees · 532 to 631
    Dec 20, 2024 to Mar 28, 2025
  • State-registered IARs · 18 to 24
    Dec 20, 2024 to Mar 28, 2025
  • Other offices · 2 to 1
    Dec 20, 2024 to Mar 28, 2025
  • Discretionary RAUM · $46B to $56B
    Dec 20, 2024 to Mar 28, 2025
  • HNW RAUM · $9.9B to $12B
    Dec 20, 2024 to Mar 28, 2025
  • Individual RAUM · $33B to $40B
    Dec 20, 2024 to Mar 28, 2025
  • Pension RAUM · $2.7B to $3.8B
    Dec 20, 2024 to Mar 28, 2025
  • RAUM · $46B to $56B
    Dec 20, 2024 to Mar 28, 2025
  • Accounts · 1,028,431 to 1,103,630
    Jan 3, 2024 to Mar 29, 2024
  • Advisory employees · 29 to 32
    Jan 3, 2024 to Mar 29, 2024
  • BD registered reps · 27 to 32
    Jan 3, 2024 to Mar 29, 2024
Signals
20 dated events
  • E•••• N••••• G•••••• left Betterment for R••• F•••••••• P••••••• (registered 2026-05-20)
    Jun 12, 2026 · Advisor changed firm · fact
  • R••••• J••• G•••••••• left Betterment for R•••• A•••••••• L•• (registered 2025-02-09)
    Jan 7, 2025 · Advisor changed firm · fact
  • Y•••• G•••••• left Betterment for R•••• A•••••••• L•• (registered 2024-10-10)
    Sep 26, 2024 · Advisor changed firm · fact
  • Betterment reported RAUM $45.9B, up 25% from $36.6B (2024-01-03 to 2024-03-29)
    Mar 29, 2024 · RAUM change · derived
  • B•••• T••••• S••••• left Betterment for S•• F••••••••• L•• (registered 2024-04-17)
    Mar 27, 2024 · Advisor changed firm · fact
  • Babcock J••••••• Stein (Shareholder) no longer on Schedule A of Betterment (listed 2023-03-01, absent 2023-03-30)
    Mar 30, 2023 · Control person left · inference
  • Betterment reported RAUM $28.3B, up 56% from $18.1B (2021-01-04 to 2021-03-30)
    Mar 30, 2021 · RAUM change · derived
  • Mathias Dustin Lucien (Chief Operations Officer) no longer on Schedule A of Betterment (listed 2020-12-10, absent 2021-01-04)
    Jan 4, 2021 · Control person left · inference
  • Kirshbaum S•••h Levy (Chief Executive Officer) appeared on Schedule A of Betterment
    Dec 10, 2020 · Control person joined · fact
  • Todd Benjamin Alden (General Counsel) no longer on Schedule A of Betterment (listed 2020-03-30, absent 2020-06-05)
    Jun 5, 2020 · Control person left · inference
  • J••••• Seth Rosenbloom (General Counsel) appeared on Schedule A of Betterment
    Jun 5, 2020 · Control person joined · fact
  • A Khaley Sestak (Chief Compliance Officer) appeared on Schedule A of Betterment
    Jun 5, 2020 · Control person joined · fact
  • N••• K••••••• C••••••• (Chief Compliance Officer) no longer on Schedule A of Betterment (listed 2020-01-02, absent 2020-02-04)
    Feb 4, 2020 · Control person left · inference
  • N••• K••••••• C••••••• (Chief Compliance Officer) appeared on Schedule A of Betterment
    May 23, 2019 · Control person joined · fact
  • J••••• Seth Rosenbloom (Chief Compliance Officer) no longer on Schedule A of Betterment (listed 2019-03-29, absent 2019-05-23)
    May 23, 2019 · Control person left · inference
  • Clayton Alex Benke (President) no longer on Schedule A of Betterment (listed 2019-03-29, absent 2019-05-23)
    May 23, 2019 · Control person left · inference
  • Clayton Alex Benke (President) appeared on Schedule A of Betterment
    Mar 22, 2019 · Control person joined · fact
  • Brailler Peter Lorimer (Vp, Finance) appeared on Schedule A of Betterment
    Mar 22, 2019 · Control person joined · fact
  • J••••• Seth Rosenbloom (Chief Compliance Officer) appeared on Schedule A of Betterment
    Mar 20, 2019 · Control person joined · fact
  • R••••• Paul Walsh (Chief Compliance Officer) no longer on Schedule A of Betterment (listed 2019-02-26, absent 2019-03-20)
    Mar 20, 2019 · Control person left · inference
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
Business phone
646-809-4181reportedpublished by the firm, firm site, Sep 16, 2026
Business phone
718-400-6898reportedpublished by the firm, firm site, Sep 16, 2026
Firm profile
linkedin.com/company/bettermentreportedpublic record, Form ADV, Sep 19, 2026
Website
betterment.comreportedpublic record, Form ADV, Sep 19, 2026
Principal office phone
212-228-1328reportedpublic record, Form ADV, Jul 31, 2026
Provenance
Form ADV
SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
Advisors
IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
Class
Independent wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor
$2.5Bderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026