Wealthfront provides automated investment management platform that allows investors to create and manages personalized, globally diversified investment portfolios at a lower cost. Users can create an account with the minimum investment of $500. It offers low-cost ETFs which are used to represent each asset class. Stock allocations include US, foreign and emerging markets. Likewise, bond allocations include municipal, corporate and emerging markets.
PRODUCTS & SERVICES:
Automated Investment management and advisory services for investors.
The platform provides for various accounts including Taxable Accounts, IRA Accounts, Roth IRA Accounts, SEP IRA Accounts, 529 Plan Accounts and Trusts.
It offers services such as Direct Indexing, Tax-loss Harvesting, Single-Stock Diversification, Portfolio Review, Third-Party Account Support, College Savings Plan and Retirement Planner.
It helps users manage and build a diversified portfolio.
Recently, Wealthfront launched advanced indexing to deliver clients higher after-tax returns at no incremental cost.
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Partnered with Apex Clearing Corporations to provide brokerage services to their clients.
Wealthfront is using Artificial Intelligence to manage over $5 billion in assets.
Spark Capital, Dragoneer Investment Group, Ribbit Capital, Marissa Mayer, Benchmark Capital, Alison Rosenthal, Mark Pincus, Paul Kedrosky, Index Ventures, The Social+Capital Partnership, SK Ventures, Greylock Partners, DAG Ventures, Timothy Ferriss, Cipora Herman, Michael Schroepfer, Andy Dunn, Satya Patel, Matt Mullenweg, Adam D'Angelo, Hunter Walk, Andy Rachleff, Bruce Dunlevie, Ben Horowitz, Marc Andreessen, Doug Mackenzie, Kevin Compton, Tiger Global Management
Andy Rachleff(President, CEO); Burton Malkiel(Chief Investment Officer); Ashley Fieglein Johnson(COO & CFO); David Fortunato(CTO); Daniel Carroll(Chief Strategy Officer)
1) Andy Rachleff: Andy Rachleff is a co-founder and Executive Chairman of Wealthfront. He had previously been the executive chairman of the company after stepping down as the CEO, but then returned to the CEO role in 2016.
He is also a trustee of the University of Pennsylvania, chairman of the board of overseers for its School of Engineering and Applied Science and vice chairman of its endowment investment committee. He is also a board member of the Damon Runyon Cancer Research Foundation.
2) Dan Carroll is the Founder & Chief Strategy Officer of Wealthfront. Daniel holds a B.S. in Finance from University of Arizona and was named one of the “Best Young Tech Entrepreneurs under 30” by Bloomberg Businessweek in 2011.
VALUATION / MARKET CAP:
$500 MM in 2018
$10M+ in 2018
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Currently, the company is managing over $5 billion in assets till date.(Feb 2017).
It is planning to launch 529 college savings plan in partnership with the state of Nevada and Ascensus college savings.
DATE OF LAST FUNDING:
TOTAL FUNDING COMMENT:
The company is planning to use the fund for expansion for its client base (Jan 2018).