Wealthfront Adds Additional Automation to Make Money Movement Effortless

Clients can now offload even more of their savings strategy and have Wealthfront do the work of moving money between accounts.

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Wealthfront

Feb 04, 2021, 10:30 ET

PALO ALTO, Calif., Feb. 4, 2021 /PRNewswire/ -- Today, Wealthfront announced that clients can now use the service to monitor for and automatically transfer excess cash to a Wealthfront Roth IRA, Traditional IRA or a 529 College Savings Account. Previously, Wealthfront monitored for excess cash and automatically transferred the balance to either a Wealthfront Taxable Investment Account or a Wealthfront Cash Account, and the company has quickly expanded its service to include more account options.

Wealthfront's new service Autopilot automates your savings strategy

This added automation is another important step in Wealthfront's ultimate vision to build an ecosystem that optimizes and automates all of their clients' finances, a vision they call Self-Driving Money™. Clients can already use Wealthfront to monitor an outside checking account or a Wealthfront Cash Account, and when that account exceeds the client's prescribed balance, the money is automatically deposited into the Wealthfront account of their choosing. Wealthfront even takes recurring transfers into account when looking for excess cash and integrates them seamlessly with clients' savings strategies. Clients can also set up direct deposit for their paycheck, automatically pay bills and send a check on a recurring basis.

"Our vision of Self-Driving Money™ is going to be a complete game changer for people's finances," said Chris Hutchins, Head of Financial Automation at Wealthfront. "We want to completely remove the burden of managing your money so you can focus on your career, your family or whatever is most important to you."

Wealthfront's team will continue to build out additional automation features, including transferring excess cash to multiple accounts at once and prioritizing accounts based on a client's individual goals. To open a Wealthfront Cash Account, download the app on the App Store or Google Play or visit www.wealthfront.com.

About Wealthfront

Wealthfront is a nextgen banking service that manages your savings for you using automation. The company provides all of the financial services you need like high-interest checking that offers an ATM/debit card, low-cost investment portfolios managed for you, one-click loans and free advice and planning tools all through a five-star rated mobile app. The company recently began implementing the first of its Self-Driving Money™ services to automate your savings plan so you don't need to worry about monitoring accounts and moving money around. To learn more please visit www.wealthfront.com or download the app on the App Store or Google Play.

Disclosures:

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.

Other eligibility requirements for mobile check deposit and to send a check may apply.

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").

The Wealthfront 529 College Savings Plan is administered by the Board of Trustees of the College Savings Plans of Nevada, chaired by the Nevada State Treasurer. Ascensus Broker Dealer Services, Inc. serves as the Program Manager. Wealthfront Advisers serves as the investment adviser to the Plan. Wealthfront Brokerage serves as the distributor and the underwriter of the Plan. Before you invest, consider whether your or the beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state's qualified tuition program

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SOURCE Wealthfront