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What to make of Wealthfront's three big hires and why its artificial intelligence bid may be indefensible as a strategy

The Redwood City robo bets big on an ex-Google engineering whiz amid a Betterment onslaught and after a period of high-profile departures

Author Brooke Southall September 22, 2016 at 9:06 PM
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Roy Adams, Joe Ternasky and Jakub Jurek were hired for three very different purposes but are all part of a phase three overhaul of its business model.

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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.

December 31, 2020 at 4:37 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

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

Broadridge CEO Tim Gokey gets Google Cloud's head of platform in his corner as he sets sights on wealth management cloud thunderclapper

Amit Zavery takes a Broadridge board seat as the New York firm--its shares skyrocketing in recent years--adds a wirehouse and makes wealth management a third pillar of growth

July 9, 2019 at 11:33 PM


Mentioned in this article:

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff




FAA

FAA

September 22, 2016 — 10:59 PM
AI is a part of the solution...but so minor compared to machine learning and big data.

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