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Wealthfront

From Wikipedia, the free encyclopedia
Wealthfront Corporation
TypePublic
Nasdaq: WLTH
Industry
Founded2008; 18 years ago (2008) in Redwood City, California, U.S.
Founders
HeadquartersPalo Alto, California, U.S.
Area served
U.S.
Key people
  • Andy Rachleff (Chairman)
  • David Fortunato (CEO)
Products
RevenueIncrease $339 million (2025)[1]
Decrease $123 million (2025)[1]
AUM$95 billion (2026)[1]
Number of employees
330 (2025)[1]
Websitewww.wealthfront.com Edit this at Wikidata

Wealthfront Corporation is an American financial services company based in Palo Alto, California,[2][3][4][5] founded by Andy Rachleff and Dan Carroll in 2008.[6][7] As of May 2026, Wealthfront reported approximately $95 billion assets under management for more than 1.4 million clients.[8][9]

History

[edit]

Wealthfront was founded by Benchmark co-founder Andy Rachleff with Dan Carroll in 2008 as kaChing, a mutual fund analysis company, before pivoting into wealth management.[10][6][4][11] Rachleff served as the firm's founding CEO and president[11] until January 2014. Between January 2014 and October 2016, Adam Nash served as Wealthfront's CEO.[3] Rachleff continued to serve as executive chairman until stepping down in 2016 to serve as CEO again.[12] He then returned to his position as executive chairman in 2021.[13] David Fortunato served as the firm's chief technology officer from 2009 to 2019, after which he assumed the role of president and CEO.[13]

Operations and growth

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In December 2012, the firm started tax loss harvesting for accounts of more than $100,000.[14][15]

Assets under management increased from $97 million at the beginning of 2013 to approximately $530 million by the end of the fiscal year.[7] In 2013, Wealthfront introduced "direct indexing", a tax-loss harvesting platform that purchases the individual securities of an investment portfolio.[16]

In January 2018, Wealthfront launched homeownership planning tool for Path.[17][18]

In February 2019, the firm introduced the Wealthfront Cash Account, which provides banking as a service (BaaS). A Cash Account deposits client funds in a network of partner banks including Citibank, HSBC, and UMB.[19][20][21] In 2020, the account was expanded to allow for direct deposit, bill pay, and ATM access through Green Dot Bank.[22] In June 2026, Wealthfront announced UMB Bank would be providing these features for all users by October 2026.[23]

Partnerships and acquisitions

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In 2016, Wealthfront launched a partnership with the state of Nevada to launch a 529 tax-advantaged college savings plan. In the previous year, Nevada passed approval on a new tax credit for employers who provide fund matching to employees participating in 529 savings programs.[24]

In January 2022, UBS agreed to acquire Wealthfront for $1.4 billion.[25] The acquisition was mutually terminated in September 2022 with both companies not providing a reason.[26][27] UBS announced that it would instead invest in a $69.7 million note convertible into Wealthfront shares, valuing the latter at its acquisition price.[27]

In July 2024, Wealthfront acquired a mortgage company[28] as part of its entry into home lending.

In December 2025, Wealthfront completed an initial public offering on the Nasdaq Global Select Market under the ticker symbol "WLTH". The company raised approximately $485 million, pricing shares at $14 per share, resulting in a fully diluted market capitalization of approximately $2.6 billion.[29][30]

Finances

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The company has received funding from Benchmark Capital, DAG Ventures, Index Ventures, Social Capital and individuals, including Marc Andreessen and Jeff Jordan.[11] In April 2014, Wealthfront raised $35 million in a funding round led by Index Ventures, Ribbit Capital and Benchmark Capital.[31] The funding round brought the firm's total funding to $65.5 million.[32]

Awards and recognition

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Wealthfront has been included in financial publications for its services. In 2015, Forbes included Wealthfront on its inaugural Fintech 50 list.[33] In January 2020, Wealthfront was listed in Business Insider's Top 10 Best Robo Advisors in 2020.[34]

In 2024 and 2025, Wealthfront was named to the Real Simple Smart Money Awards lists,[35][36] and was again named to the annual Forbes Fintech 50 list.[37][38]

The Wall Street Journal has also recognized Wealthfront as the Best Robo Advisor for Multiple Goals.[39]

See also

[edit]

References

[edit]
  1. 1 2 3 4 Kauflin, Jeff (September 29, 2025). "After 17 Years, Fintech Wealthfront Files For An IPO, Disclosing Fat Profits". Forbes.
  2. ↑ Leena Rao (2014-01-13). "Automated Investment Services Company Wealthfront Now Manages Over $538M In Assets, Up 450 Percent Over The Past Year". Retrieved 2014-08-22.
  3. 1 2 Brooke Southall (2014-01-30). "Andy Rachleff is out as CEO of Wealthfront as former LinkedIn star takes his place". Archived from the original on 2014-08-26. Retrieved 2014-08-22.
  4. 1 2 Saitto, Serena (25 March 2014). "Wealthfront Said to Be Raising $30 Million Led by Index". Bloomberg News. Bloomberg L.P. Retrieved 22 August 2014.
  5. ↑ "The 2014 CNBC Disruptor 50 List". CNBC. 17 June 2014. Retrieved 2014-08-22.
  6. 1 2 Eric Savitz (2012-03-01). "WealthFront: Asset Manager Targets Valley's Nouveau Riche". Forbes. Retrieved 2014-08-22.
  7. 1 2 Leena Rao (2014-04-02). "Automated Investment Service Wealthfront Raises $35M From Index, Ribbit Capital". Retrieved 2014-08-22.
  8. ↑ "After 17 Years, Fintech Wealthfront Files For An IPO, Disclosing Fat Profits". Retrieved January 8, 2026.
  9. ↑ "Give all your money a place to grow | Wealthfront". www.wealthfront.com. Retrieved 2025-01-08.
  10. ↑ Jason Kincaid (2009-12-15). "kaChing Raises $7.5 Million To Turn Mutual Funds On Their Heads". Retrieved 2015-03-19.
  11. 1 2 3 Tom Taulli (2012-02-07). "Interview: Wealthfront CEO and Founder Andy Rachleff". Archived from the original on 2014-08-26. Retrieved 2014-08-22.
  12. ↑ "Exclusive: Wealthfront's Founder Reclaims CEO Role as Current Chief Steps Down". Fortune. Retrieved 2020-05-10.
  13. 1 2 "wlth-20260511". www.sec.gov. Retrieved 2026-07-15.
  14. ↑ Marcus Wohlsen (2012-10-09). "Now Tech Plebes Can Dodge Taxes Like a Former Governor". Wired. Retrieved 2014-08-22.
  15. ↑ Kim-Mai Cutler (2012-10-09). "Financial Planning Startup Wealthfront Woos Silicon Valley Workers With A Once-Secret Investment Trick". Retrieved 2014-08-22.
  16. ↑ Wommack, Sanders (19 December 2014). "Wealthfront's high-net-worth cat leaps out of the bag -- keeping it one robo 'pivot' ahead of Schwab". RIA Biz. Archived from the original on 15 February 2015. Retrieved 27 January 2015.
  17. ↑ Neal, Ryan W. (29 January 2018). "Wealthfront app to help millennials with this lofty goal". www.investmentnews.com. Retrieved 2018-05-17.
  18. ↑ "Wealthfront Launches Homeownership Planning Tool - Finovate". Finovate. 2018-01-30. Retrieved 2018-05-17.
  19. ↑ "Introducing the Wealthfront Cash Account". Wealthfront Blog. 2019-02-14. Retrieved 2021-02-16.
  20. ↑ "Enjoy high-interest checking with no account fees | Wealthfront". www.wealthfront.com. Retrieved 2021-02-16.
  21. ↑ "Wealthfront's Cash Account: What It is & How to Use It". www.moneyunder30.com. Retrieved 2021-02-16.
  22. ↑ "The Wealthfront Cash Account Now Comes With Checking Features". Wealthfront Blog. 2020-06-29. Retrieved 2021-02-16.
  23. ↑ "Updates to your Individual Cash Account's account and routing numbers". Wealthfront Support. 2026-06-17. Retrieved 2026-07-21.
  24. ↑ Andrea Davis (2016-06-03). "Wealthfront leads robo expansion into college savings plans". Retrieved 2016-07-14.
  25. ↑ "UBS buys Wealthfront in $1.4 bln deal to widen U.S. reach". Financial Post. 2022-01-26. Retrieved 2022-01-26.
  26. ↑ Balezou, Myriam (2022-09-05). "UBS Growth Plans in US Dented After Wealthfront Deal Fails". Bloomberg News.
  27. 1 2 Snel, Ross (2022-09-02). "UBS Planned to Buy Robo-Advisor Wealthfront. Now the Deal's off". Barron's.
  28. ↑ www.sec.gov https://www.sec.gov/Archives/edgar/data/1524566/000162828026027232/R25.htm. Retrieved 2026-05-18. {{cite web}}: Missing or empty |title= (help)
  29. ↑ PitchBook (2025-12-12). "Wealthfront Notches $2.6B Valuation in Uneventful Public Debut". Morningstar, Inc. Retrieved 2026-01-12.
  30. ↑ "Robo-Adviser Wealthfront, Backers Raise $484.6 Million in IPO". Retrieved 2026-01-12.
  31. ↑ "Funding Roundup: Wealthfront Raises $35 Million, Reports 450% Growth". Daily News. 2014-04-04. Retrieved 2014-08-22.
  32. ↑ Gabrielle Karol (2014-06-13). "High-Tech Investing Startup for Millennials Hits $1 Billion in Assets". Retrieved 2014-08-22.
  33. ↑ Sharf, Samantha. "The Fintech 50: The Complete List 2015". Forbes. Retrieved 2026-07-15.
  34. ↑ Meola, Andrew. "Top robo advisors in 2020: Performance reviews, returns, and comparisons". Business Insider. Retrieved 2020-03-17.
  35. ↑ "Smart Money Awards: The Best Financial Apps and Services of 2025". Real Simple. Archived from the original on 2025-08-13. Retrieved 2026-07-15.
  36. ↑ "REAL SIMPLE Announces Winners of the 2024 Smart Money Awards". People Inc. MediaRoom. Retrieved 2026-07-15.
  37. ↑ Tucker, Hank. "The Future Of Investing: Fintech 50 2025". Forbes. Retrieved 2026-07-15.
  38. ↑ Bambysheva, Nina. "The Future Of Investing: Fintech 50 2024". Forbes. Retrieved 2026-07-15.
  39. ↑ Napach, Bernice; Kearns, Deborah (2025-08-14). "Best of Buy Side Awards 2025: Robo Advisors". WSJ Buyside. Retrieved 2026-07-15.
[edit]
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