Betterment says it takes steps to protect your personal information, but explicitly acknowledges that it cannot guarantee your data will always be secure.
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
Despite holding extremely sensitive financial data including SSNs and bank account numbers, Betterment's policy includes a standard disclaimer that no security system is impenetrable, which is standard but relevant given the sensitivity of the data involved.
The updated policy discloses a new Fully Paid Securities Lending program through Apex Clearing, under which Betterment will share customer personal information and account details with Apex if customers choose to participate. The revised terms also establish that generative AI service providers have committed that personal information will not be used for model training. For customers participating in promotional offers requiring offline fulfillment, the policy now explicitly states that personal information including mailing address may be shared with third-party partners. You can review the FPSL Program supplemental disclosures for details about the securities lending arrangement, or choose not to participate in the program.
View change record →New provision explicitly details security implementation measures and provides liability limitation, addressing consumer expectations for financial data protection.
View full change record →This provision means that while Betterment maintains security measures, it limits its liability if your sensitive financial data is compromised, and users should be aware that no security guarantee is provided.
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We employ physical, electronic, and managerial measures to safeguard the data we collect online. However, no company can fully eliminate security risks, so we cannot make guarantees about any part of our services.
DATADOG ASSUMES NO LIABILITY OR RESPONSIBILITY FOR ANY (i) ERRORS, MISTAKES OR INACCURACIES OF DATA OR INFORMATION POSTED, DISPLAYED, PUBLISHED OR MADE AVAILABLE...
TINDER ASSUMES NO RESPONSIBILITY FOR ANY CONTENT THAT YOU OR ANOTHER USER OR THIRD PARTY POSTS, SENDS, RECEIVES, AND/OR ACTS ON THROUGH OUR SERVICES, NOR DOES TINDER ASSUME ANY RESPONSIBILITY FOR THE IDENTITY, INTENTIONS...
"We implement technical, administrative, and physical security measures designed to protect your personal information from unauthorized access, disclosure, alteration, or destruction. However, no security system is impenetrable, and we cannot guarantee that your personal information will be secure in all circumstances.Excerpt from Betterment's Privacy Policy
1) REGULATORY LANDSCAPE: GLBA and SEC Regulation S-P require registered investment advisers and financial institutions to maintain written information security programs with specific safeguards.
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Despite holding extremely sensitive financial data including SSNs and bank account numbers, Betterment's policy includes a standard disclaimer that no security system is impenetrable, which is standard but relevant given the sensitivity of the data involved.
This provision means that while Betterment maintains security measures, it limits its liability if your sensitive financial data is compromised, and users should be aware that no security guarantee is provided.
ConductAtlas has identified this type of provision across 287 platforms. See the full comparison.
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