Wealthfront, the Palo Alto-based robo advisor pioneer with about $2.5 billion in assets under management, has dropped one zero from its minimum account balance requirement.
Now, investors will only need $500 to open an online advisory account, as opposed to the previous $5,000 minimum.
"Although $500 can't even purchase one share of Google, now with just $500 you can get exposure to a globally diversified portfolio across multiple asset classes representing thousands of securities, all in a simple, convenient and automated Wealthfront account," wrote Elliot Shmukler, the company's vice president of product and growth, in a blog post.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
