Betterment retains your personal information for as long as your account is active or as needed to comply with legal obligations, even after you close your account.
This analysis describes what Betterment's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The retention requirement reflects Betterment's obligation to comply with federal recordkeeping standards that mandate preservation of customer financial records. This practice affects the company's data management operations and establishes the baseline duration for which customer information remains in the company's systems.
Previous version had empty excerpt; current version now includes detailed retention criteria and factors considered when determining retention periods.
View full change record →Even after closing your Betterment account, your data may be retained for regulatory or legal reasons, meaning your information persists with the company longer than you might expect.
How other platforms handle this
Uber retains personal data for as long as necessary to fulfill the purposes for which it was collected, including for the purposes of satisfying any legal, accounting, or reporting requirements, and as otherwise described in this notice.
We retain personal data for as long as necessary to provide our services, fulfill the purposes described in this Privacy Policy, comply with our legal obligations, resolve disputes, and enforce our agreements. The specific retention period for each category of personal data depends on the purpose fo...
We retain your personal information for as long as necessary to fulfill the purposes outlined in this privacy policy, unless a longer retention period is required or permitted by law. We may also retain and use your information to comply with our legal obligations, resolve disputes, and enforce our ...
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"Due to US regulatory requirements, we do not delete residual copies of outdated information and must preserve all customer data for a minimum of three years. Please note that we retain information on deleted accounts as required for legal, regulatory and security purposes.— Excerpt from Betterment's Betterment Privacy Policy
Retention of financial records is mandated by SEC, FINRA, and IRS regulations for registered investment advisers and broker-dealers. Compliance teams should confirm retention schedules align with applicable regulatory minimums while not over-retaining data beyond legal necessity, which could increase CPRA exposure.
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The retention requirement reflects Betterment's obligation to comply with federal recordkeeping standards that mandate preservation of customer financial records. This practice affects the company's data management operations and establishes the baseline duration for which customer information remains in the company's systems.
Even after closing your Betterment account, your data may be retained for regulatory or legal reasons, meaning your information persists with the company longer than you might expect.
ConductAtlas has identified this type of provision across 16 platforms. See the full comparison.
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