After Andy Rachleff explains Wealthfront's corrective to banking, Jon Stein told how Betterment is investing heavily in banking but mindful of 'frothiness'

The Redwood City, Calif.-based robo-advisor co-founder explained the banking pain points at InVest West and the New York-based robo co-founder told of a $1B banking week but exulted more about RIA custody

Author Brooke Southall December 6, 2019 at 11:48 PM

2 Comments

Andy Rachleff: 'We realized [a high-yield checking account] is a better entry point than an investment account.

Robo-Advisors

Andy Rachleff

Wealthfront

Charles Schwab

Charles Schwab & Co.

Brian Murphy

December 7, 2019 — 8:03 PM

Still throwing spaghetti at the wall and trying to see what sticks, I see Ridiculous that a company could be in the marketplace for nearly a decade, raise as much money as Wealthfront has, and yet really have so little clue about where the market is. And yet, they keep coming up with products/services that compete head-on with traditional players using the same tired business models that have been around for forty years or more. Looking forward to the article a year from now that justifies why they've gone into credit, or lending.

Paul J Mauro

December 10, 2019 — 1:18 PM

amazing to me that all this private equity and vc money has been vaporized by 2 companies who have yet to make a profit.you can spend 300 million to get 4 billion that pays you 40 mil a year in fees

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Mentioned in this article:

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff