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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.

Author Oisin Breen December 31, 2020 at 4:37 AM
Admin:
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Andy Rachleff promises a bank "that makes money with the client -- not from them."

Brian Murphy

Brian Murphy

December 31, 2020 — 9:55 PM
Good luck with that. See you on the auction block in 2022.

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

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Oisín's Bits: Wealthfront drops old mission statement, declares war on institutions and emphasizes banking future • Seeking Utah charter, Edward Jones may become largest bank in US by branch count • After Advent chief leaves, Black Diamond head steps up

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July 3, 2020 at 1:12 AM

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Mentioned in this article:

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff

Riskalyze
Tech: Other
Top Executive: Aaron Klein



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