PALO ALTO, Calif., April 20, 2021 /PRNewswire/ -- Today Wealthfront launched the final set of features that make up the first version of Self-Driving Money™. The company's relentless focus on automation has led to a financial ecosystem that is not only lightyears ahead of anything else on the market, but will change outcomes for millions of young investors for the better. Starting today, clients no longer need to move money between multiple institutions and coordinate across clunky interfaces to grow their savings because Wealthfront can automate everything from end to end, ensuring every dollar earned grows.
"The way the financial system is designed makes it nearly impossible to properly manage your money, but at Wealthfront we've streamlined it using software. Now that automation can carry out our clients' financial decisions, they will see enormously better outcomes," said Dan Carroll, co-founder and Chief Strategy Officer at Wealthfront. "We believe Self-Driving Money™ is going to propel the financial success of Gen Z and Millennial investors by removing stress and inertia once and for all from financial decisions, instead optimizing every dollar they earn."
Clients who direct deposit into a Wealthfront Cash Account will immediately enjoy the benefits of Self-Driving Money™. Wealthfront can continuously monitor clients' cash flows to ensure that bills are paid and savings are instantly routed into the right investment accounts based on pre-set savings goals. With the features being released today, clients can even have Wealthfront organize their money into different savings buckets like an emergency fund, home down payment, vacation fund, etc. All money routing happens immediately and simultaneously across different account destinations.
The automation Wealthfront has delivered makes its Cash Account unique in the market and also increases the efficiency and value of the company's investment service by giving clients more time in the market. For example, a client no longer needs to wait up to three business days for their money to reach their investment account. Instead their savings are now invested instantly and automatically from the Wealthfront Cash Account.
To access Self-Driving Money™, anyone can open a Wealthfront Cash Account with just $1. The Wealthfront Cash Account offers a debit card with access to free ATMs and FDIC insurance up to $1 million through Wealthfront's partner banks. To get started visit www.wealthfront.com or download the app on the App Store or Google Play.
Wealthfront integrates banking and investing to make it delightfully easy to grow your wealth. They provide all of the financial services you need like interest checking that offers an ATM/debit card as well as low-cost investment management, one-click loans and free financial planning tools. The company recently delivered on it's Self-Driving Money™ vision to automate your savings plan so you don't need to worry about monitoring accounts and moving money around. Wealthfront was named best account for cash management by NerdWallet and best robo-advisor by both NerdWallet and Investopedia. To learn more please visit www.wealthfront.com or download the app on the App Store or Google Play.
We've partnered with Green Dot Bank, Member FDIC, to bring you checking features.
Checking features for the Cash Account are subject to identity verification by Green Dot Bank. Debit Card is optional and must be requested. Wealthfront Cash Account Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association. Green Dot Bank operates under the following registered trade names: GO2bank, GoBank, Green Dot Bank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage. Wealthfront products and services are not provided by Green Dot Bank. Green Dot is a registered trademark of Green Dot Corporation. ©2021 Green Dot Corporation. All rights reserved.
Cash Account is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), a Member of FINRA/SIPC. Neither Wealthfront Brokerage nor any of its affiliates are a bank, and Cash Account is not a checking or savings account. We convey funds to partner banks who accept and maintain deposits, provide the interest rate, and provide FDIC insurance. Investment management and advisory services are provided by Wealthfront Advisers LLC ("Wealthfront Advisers"), an SEC registered investment adviser, and financial planning tools are provided by Wealthfront Software LLC ("Wealthfront").
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