PALO ALTO, Calif. – Unlike its robo rival Betterment, the Silicon Valley-based automated investing service Wealthfront has no plans to diversify into a business-to-business model working with financial advisory firms or to venture into the 401(k) market. Nor is the online-only RIA for sale or has plans for an initial public offering anytime soon.
“The whole point is to focus on the long-term game,” says President and CEO Adam Nash. “We’re in this to build a large independent company that is 100% focused on the future. We do not want any intermediary between us and the client.”
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