"Betterment's privacy practices present a high risk due to extensive data collection and sharing with third parties, including sensitive personal information. The retention of data even after account closure and the use of cookies for targeted advertising further elevate privacy concerns."
betterment Privacy Concerns & Scorecard
Betterment collects extensive personal and sensitive information, including financial status, social security numbers, and biometric data.
Betterment shares personal information with multiple third parties, including service providers and advertising networks.
Betterment retains customer information indefinitely and has vague retention policies.
Betterment uses cookies and similar technologies for targeted advertising and collects web navigational information.
Users have limited options to opt-out of data sharing and targeted advertising, but the process may not be straightforward.
No recommended actions at this time.
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Why We Analyzed betterment
TrueTerms automatically audits privacy policies and data practices using advanced machine learning to keep you informed and protected. This scorecard is based on the latest available public terms of service and privacy policies as of 2026.