The world of wealth management is always changing especially for the millennials that now want innovative investment solutions that meet their needs and preferences. The baby boomers like sitting down with their financial advisors on a quarterly basis to review their investment strategy and portfolio bt today's younger investors want access to technology and software that can help them manage their money easier and more effectively with lower fees and all of this from the comfort of their home with just a few clicks on their computer or smartphone. Wealthfront is the largest and fastest growing automated investment service, with over $6 billion in assets under management. The company was started in 2011, is based in the Bay Area, has 140 employees and has raised $129 million from investors.
In this interview I spoke with Andy Rachleff, co-founder of Wealthfront about the changing landscape of wealth management, where did the idea for Wealthfront come from, what were the many things that needed to happen to get this company off the ground, how did he meet his co-founder, who did they start hiring to help build the platform, when did they raise their first round of capital, what's it like going from VC to Entrepreneur, how quickly has Wealthfront been growing, how are they acquiring their customers, who are their customers, how does the Wealthfront service work, how often does the investment strategy change and who makes those decisions, what's the key to building a great 140-person team, what have been the biggest business challenges over the past 6+ years, is there anything he'd do differently while growing Wealthfront and much more.
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