RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Wealthfront throws engineering at its large-account 'problem'

The Palo Alto-based automated money manager addresses tax slippage from transfers of HNW accounts to its website

Author Sanders Wommack February 23, 2015 at 8:39 PM
Admin:
no description available
Adam Nash: When you start handling large accounts, you start having to deal the problems that come with them.

Stephen Winks

Stephen Winks

February 23, 2015 — 9:47 PM

At least Wealthfront is adapting unlike Wall Street.

This is an amateur mistake, but is encouraging in its interest in continuous improvement—the early impediment to not quite ready Robo Advice.

SCW
Stephen Winks

Matt M

Matt M

July 31, 2015 — 7:59 PM

The last sentence reads “$400 million AUM” and earlier reads “close to $2 billion of managed assets”. Are these the same? What am I missing? Thanks!

brooke southall

brooke southall

July 31, 2015 — 8:08 PM

Matt,

I believe the first amount was Wealthfront and the second was FutureAdvisor.

Brooke

Matt M

Matt M

July 31, 2015 — 8:52 PM

That makes sense! Thanks brooke!


Related Moves

Jon Stein ousts himself as Betterment CEO and taps Sarah Levy, who joins an exclusive club of top women executives, with a mission -- an IPO

The co-founder of the New York robo-advisor headhunted the ex-Viacom brass through Harvard professors on the down low to ostensibly scale operations.

December 8, 2020 at 5:27 PM

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 at 1:35 AM

Wealthfront cedes to four years of investors clamoring for crypto by taking on expensive third-party vendor that Betterment rules out

The Redwood City, Calif., robo-advisor turned a hard 'no' into a soft 'yes' by dealing with Grayscale and its 200 basis-point-plus fees, which its robo rival in NYC -- also without a crypto path -- finds ludicrous.

August 14, 2021 at 2:20 AM

Second Betterment exec departs as new CEO Sarah Levy orients to her first month on the job and is confronted by personnel matters

Chief operating officer Dustin Lucien is the latest to leave the New York City robo-advisor, one of at least eight positions open as it prepares a push across multiple business lines to ignite growth.

January 19, 2021 at 6:32 PM

See more related moves

Mentioned in this article:

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo