Wealthfront busts through $20 billion mark with its 'break things but make it happen' approach, but it's bedeviled by details when it comes to customers
CEO Andy Rachleff near doubles assets with high-interest paying robo-bank as new tailwind, but with brand risk as customer service may not be keeping pace, according to one cautionary tale.
Brian Murphy
Greg B
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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 at 4:37 AM
Edelman Financial Engines new CEO will face challenges after AUM plummets $50 billion (since start of 2022) and DOL throws wrench in its business model, complicating efforts to convert robo-advised 401(k) assets to an 'Edelman' RIA
CEO Jay Shah must chart a new course after the 2018 merger of the radio superstar RIA and the 401(k) robo-advisor fails to yield invisioned growth.
July 11, 2023 at 2:46 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
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Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff
Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein