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What to make of Wealthfront's three big hires and why its artificial intelligence bid may be indefensible as a strategy

The Redwood City robo bets big on an ex-Google engineering whiz amid a Betterment onslaught and after a period of high-profile departures

Author Brooke Southall September 22, 2016 at 9:06 PM
1 Comment
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Roy Adams, Joe Ternasky and Jakub Jurek were hired for three very different purposes but are all part of a phase three overhaul of its business model.

Robo-Advisors


FAA

FAA

September 22, 2016 — 10:59 PM
AI is a part of the solution...but so minor compared to machine learning and big data.

Related Moves

December 31, 2020 at 4:37 AM

Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer

Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.

June 29, 2024 at 3:00 AM

Altruist is CTO-less, for now, quasi-intentionally, it says • Ex-rival exec hired to jumpstart cross-selling Orion products to enterprise clients • BlackRock tops Grayscale • Facet outsources estate plans • Advyzon profits off Goldman exodus • Dan Wiener's RIA has new CEO • CFP count tops 100k

Shiralker out at Altruist • Orion gives Trevor Noble his cause • Bitcoin has a new fund king • Software maker benefits from Goldman custody exec. churn • Carson Group denies lawsuit • Merge of Wiener's old shop complete • 100,000th CFP named.

June 7, 2024 at 1:44 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

See more related moves

Mentioned in this article:

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff



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