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Wealthfront nixes Apex Clearing and explains it as step in ridding 'semi-manual processes and disjointed systems'

The Redwood City-based robo-advisor says in its blog that its software advance enables new destiny in "personal banking"

Friday, May 12, 2017 – 10:18 PM by Brooke Southall
Admin:
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Rija Javed: If you’re a Wealthfront client, you’ve probably been frustrated by the slow pace of your funds getting invested, or wondered why you still need to use forms in this day and age.

Related Moves

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 – 2:20 AM

Tricia Rothschild is out at Apex in run-up to $4.7 billion IPO as an ex-Goldman exec assumes her day-to-day role and two ringers fill big jobs

The ex-Morningstar exec leaves president role after one year as ex-Google and ex-Nasdaq talents step into new CTO and CMO posts.

July 14, 2021 – 7:04 PM

Tom Valverde is out at Apex, leaving Tricia Rothschild to take the reins as RIA chief, for now

The former Pershing and Fidelity sales czar confirmed he left Apex 'voluntarily' Feb. 25 amid a flurry of no comments.

February 26, 2021 – 10:53 PM

Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say

The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.

December 31, 2020 – 4:37 AM

See more related moves

Mentioned in this article:

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff




FAA

FAA

May 13, 2017 — 12:58 AM
In my Friday evening estimation...this is a race to zero. The only levers are Brand (perception) front end technology (very important but changing) and fees! There is no special algos, insight, tax management etc. Frankly the innovation is in portfolio construction/tax management. With adequate capabilities mutual funds (excepting those having custodial issues- EM equity etc) will be extinct. You will be able to manage your strategy pertaining to composition and tax management at the security level. That's the innovation...not this I am faster, I am smarter, I am cheaper.

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