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Articles tagged "Wealthfront"


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David Fortunato: We will be cash flow positive and EBITDA profitable in the next few months.

UBS backs out of Wealthfront deal, coughs up $69 million and will 'build' not buy as digital top gun Naureen Hassan's arrival as CEO of UBS Americas hangs nigh

The Swiss-owned wirehouse was going to pay $1.4 billion before the market plunged, and UBS brought on a new digital-savvy CEO to lead its online efforts

September 3, 2022 at 1:34 AM

David Fortunato: It was clear from the start that we shared the same values and culture.

Wealthfront gets new CEO who promptly sells to UBS, making Betterment CEO's day as last robo-advisor standing; but an insider claims the '$1.4-billion cash deal' may be less 'eye-popping' than it appears

The Palo Alto, Calif., robo-startup's original mission was to disrupt wirehouses, technically and culturally, but now it's one with a wirehouse, its best remaining option

January 31, 2022 at 9:26 PM

Andy Rachleff will try to sell his $25-billion robo-RIA for $1.5 billion, a report says

Wealthfront turns to Frank Quattrone to spur sale after RBC and SPAC deals fall through, say RIABiz sources, but reported $1.5 billion price may be bridge too far

Though buyers are interested in the Palo Alto, Calif. -headquartered robo, they may have balked at the price, which sources say pushes the envelope even in a hot market, but banker Catalyst will further test the market.

November 17, 2021 at 2:29 AM

Andy Rachleff chooses a high-priced mutual fund under unusual circumstances to check the crypto box.

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

Dan Carroll: Wealthfront will be the place to invest responsibly, not some Wild West arcade. We can do it in a fiduciary way.

Wealthfront, in its sixth pivot as a firm, reduces its robo-advisor's role and puts 'decision-making power where it belongs,' with retail investors

The Palo Alto, Calif., firm will still maintain an RIA, but it'll be more like a self-directed brokerage in allowing investors to play an active role by buying stocks and cryptocurrency.

June 16, 2021 at 1:57 AM

Brian Barnes: We can be a next-generation Charles Schwab. We want to go after the banks.

Taking on Schwab, Robinhood and Wealthfront, VCs keep throwing cash -- now $153 million -- at M1 Finance that it doesn't need to burn

The latest $75 million in venture capital comes after an uber-spike in growth M1 says correlates with fed-up Robinhood investors after the GameStop fiasco

March 13, 2021 at 2:56 AM

Bob Armour: We will now go back to serving our clients by putting their wealth front and center and will stop being distracted by inaccurate and paranoid tweets.

M1 Finance now says Wealthfront's allegation is a 'lie' and Wealthfront counters: Let's go to the video replay

The Chicago retail model portfolio purveyor says its staffer never hid her M1 employment and the Silicon Valley robo-advisor begs to differ and claims it's on tape

January 28, 2021 at 6:55 PM

Daniel Slate: I'm blown away that M1 Finance would be so unethical as to have an employee lie to access customer research sessions for a competitor.

Wealthfront calls out M1 Finance for alleged pretexting, but some experts see its damnation as faint praise for a growing competitor

The Redwood City, Calif., robo-advisor and online bank revealed a long-running rift on social media over allegedly 'unethical' behavior.

January 20, 2021 at 11:20 PM

Andy Rachleff promises a bank "that makes money with the client -- not from them."

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

Edward Jones will reverse engineer 14,000 branches into banks, if Utah cooperates.

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

Andy Rachleff cans the old 'democratizing' mission statement at his robo; The 14,200 one-man Ed Jones branches may become branch banks; Steve Leivent consolidates power at SS&C.

July 3, 2020 at 1:12 AM

Wealthfront CEO Andy Rachleff oversaw the insertion of leverage, hence risk into portfolios, which has been unrewarding in this market.

Amid pandemic, Wealthfront's risk parity fund faces rough stretch, reviving questions about the wisdom of a 'millennial' robo using something as 'Wall Street' as leverage and active management

The $20-billion Redwood City, Calif. firm walks fine line between being anti-Wall Street and dabbling in leveraged active investments that COVID-19 markets have hit hard.

April 30, 2020 at 9:57 PM

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

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

December 6, 2019 at 11:48 PM

Andy Rachleff is staying the course on a minimum viable product philosophy that has benefits -- and embarrassments.

Wealthfront is again forced to disclose a bad mistake --testing how far the move-fast, break-things -then-apologize culture can go

The Redwood City robo issues erroneous 1099 data in 2017 that it just discovered. It happened around the time it dumped Apex.

October 19, 2019 at 4:13 AM

Tim Buckley is part of the chorus of silence about why Vanguard is finally testing a robo-advisor.

Vanguard Group signals launch of long-anticipated -- vanilla as hell -- dirt cheap, perhaps 'clunky' robo-advisor, but Schwab, Fidelity should worry, nonetheless, analysts say

With Schwab more subscription-minded and Fidelity more upmarket, the Malvern, Pa. monster may get a decent shot at retail micro-accounts and 401(k) participants. It's more of a yawn at Betterment and Wealthfront.

October 2, 2019 at 3:31 PM

Michael Cohan: No information can be revealed at any point, lest laundering proliferate unchecked and unabated around the cosmos.

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.

September 15, 2019 at 2:42 AM

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