Articles tagged "Wealthfront"
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Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer
Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.
June 29, 2024 at 3:00 AM
Altruist is CTO-less, for now, quasi-intentionally, it says • Ex-rival exec hired to jumpstart cross-selling Orion products to enterprise clients • BlackRock tops Grayscale • Facet outsources estate plans • Advyzon profits off Goldman exodus • Dan Wiener's RIA has new CEO • CFP count tops 100k
Shiralker out at Altruist • Orion gives Trevor Noble his cause • Bitcoin has a new fund king • Software maker benefits from Goldman custody exec. churn • Carson Group denies lawsuit • Merge of Wiener's old shop complete • 100,000th CFP named.
June 7, 2024 at 1:44 AM
Wealthfront pounces after Betterment jacks up prices on small investors, but Betterment claims last laugh -- 'thousands' of new customers, it says
The New York City robo-advisor imposes the charge so low balance accounts pay 'fair share,' prompting Wealthfront's CEO to say his rival is 'penalizing' those investors.
January 10, 2023 at 1:40 AM
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
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
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
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
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
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
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
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
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
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
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
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
