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.
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
We retain your personal information for as long as necessary to provide you with our products and services, to comply with our legal obligations, to resolve disputes, to enforce our agreements, and for other legitimate and lawful business purposes.
We store information until it is no longer necessary to provide our services and WhatsApp Products, or until your account is deleted or becomes inactive, whichever comes first. This is a case-by-case determination that depends on things like the nature of the information, why it is collected and pro...
You may request deletion of your account at any time. When you request account deletion, we will delete or anonymize your personal information unless we are required to retain it by law, or unless we need to retain it for legitimate business purposes such as resolving disputes, enforcing our agreeme...
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"Due to US regulatory requirements, we do not delete residual copies of outdated information and must preserve all customer data for a minimum of three years.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 15 platforms. See the full comparison.
No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by Betterment.