Model Portfolios. Advisor acknowledges that Betterment may make available certain model investment portfolios developed by third-party providers (each, a “Model Portfolio Provider”) to provide some or all Advisors and Clients with Products and/or allocations (a “Model Portfolio”) that differ from the Products and/or allocations Betterment has selected based on Betterment’s investment methodology. If instructed by Advisor in accordance with the terms of this Agreement, Betterment will invest a Client’s assets in a Model Portfolio. Notwithstanding anything to the contrary in Section 4 above, Betterment will not recommend an IPS to a Client who is placed in a Model Portfolio and will instead allocate the Client’s accounts in accordance with the parameters specified by the Model Portfolio selected by the Advisor. With respect to a Client in a Model Portfolio, Advisor, and not Betterment, shall be responsible for managing the Client’s account on the basis of the Client’s financial situation and investment objectives. Advisor will be responsible for informing all Clients who are placed in a Model Portfolio (i) that they are placed in a Model Portfolio and not a Betterment-selected portfolio and (ii) of the foregoing allocation of responsibilities between Betterment and Advisor. Advisor understands that certain features of the Interface may not work in conjunction with a given Model Portfolio, and that Advisor is responsible for explaining these limitations to Client. In connection with the use of any Model Portfolio, Advisor makes the representations warranties, and acknowledgements set forth in Exhibit A hereto. Except as explicitly modified by this Section, all provisions of this Agreement will remain in effect, and Betterment shall provide services as described herein to Advisor and Client.
Appears in 4 contracts
