Wealthfront, a Palo Alto–based fintech, has filed with the Securities and Exchange Commission to go public. The 17-year-old firm manages automated investment portfolios and interest-bearing cash accounts for 1.3 million clients, with US$88 billion in total assets under management. Historically focused on higher-earning millennials, its average client is 38 years old with income above US$100,000.
In the year ending July 2025, Wealthfront generated US$339 million in revenue, a 26 percent increase, while reporting US$123 million in profit. Its largest shareholders include founder Andy Rachleff, CEO David Fortunato, and investment firms Tiger Global, DAG Ventures, Index Ventures, and Ribbit Capital.
The company began in 2008 as KaChing, later pivoting to robo-advising and cash accounts. Today, it earns revenue through a 0.25 percent advisory fee and spreads on cash balances. Wealthfront is expanding into mortgages, with licenses in five states and plans to offer below-market rates, signaling continued product diversification for advisers, platforms, and integrators monitoring retail wealth trends.
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