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Wealthfront Statistics 2024: Assets Under Management (AUM), number of users, Revenue, & More

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Franklin Silva
May 3, 2024

Founded in 2008, Wealthfront is a US-based fintech offering Robo-advisory and financial management services. Wealthfront has gained popularity over the years for its user-friendly platform and low management fees. Its services are designed to cater to investors of all types, regardless of their experience level or investment goals.

In this article, we will delve into Wealthfront’s latest statistics. We will explore the platform’s assets under management (AUM), number of users, revenue, and other relevant data, which highlight the growth and success of Wealthfront over the years. This information will provide valuable insights into Wealthfront’s performance and impact on the Robo-advisory industry.

Whether you are a current Wealthfront user, thinking about using the platform, or just interested in the Robo-advisory industry, keep reading to discover the latest Wealthfront statistics for 2024.


Wealthfront is a Robo-advisor firm that provides various investment solutions to clients seeking automated and easy portfolio management. Its automated investment management service invests clients’ funds in a diversified portfolio of low-cost ETFs based on their risk tolerance and financial objectives. In addition to its investment services, Wealthfront offers other financial products and services tools, such as cash management and borrowing as well as free financial planning tools.

Investors are attracted to Wealthfront’s low management fees of 0.25% per year and the convenience of managing all banking, savings, and trading operations from a single account. The financial planning and cash account do not require a minimum deposit, while the investment accounts require a minimum deposit of $500.

Here are some key corporate facts about Wealthfront:

  • Founded in: 2008
  • Headquarters: California, United States
  • IPO date: Wealthfront has not yet gone public
  • Sector: Financials
  • Industry: Robo-advisor, Investment Management
  • Founders: Andy Rachleff and Dan Carroll
  • Number of employees: 300+ (May 2024)


Wealthfront is privately held, and the percentage ownership is not publicly disclosed. Since its establishment in 2008, the company has raised funds from several investors through various funding rounds. On January 26, 2022, UBS announced its acquisition agreement with Wealthfront in an all-cash transaction valued at $1.4 billion. However, in September 2022, both parties mutually agreed to terminate the merger agreement, and UBS purchased a USD 69.7 million note convertible into Wealthfront shares instead.

Below is a list of notable investors who have invested in Wealthfront:

Wealthfront Investors

Benchmark Capital DAG Ventures Greylock Partners,  Index Ventures
Ribbit Capital Social Capital  Spark Capital Growth Tiger Global Management
UBS PEAK6 Strategic Capital Divide by Zero Defy Partners Management

Source: Wealthfront

Wealthfront Users

Wealthfront’s innovative investing and financial planning approach has made it a popular choice among millennials and experienced investors. Its automated investment management service, low fees, and diverse range of financial products have attracted younger investors seeking convenience and simplicity. 

In comparison, its cash management and borrowing features have appealed to older investors looking for a comprehensive platform to manage their finances. The company’s user-friendly mobile app and free financial planning tools have also helped it gain traction among tech-savvy consumers.

Over the years, Wealthfront’s user base has steadily increased, from just 703 users in February 2012 to over 800,000 users in May 2024. The number of users doubled yearly from 2012 to 2014 and continued to grow steadily. This steady growth can be attributed to Wealthfront’s ability to meet the evolving needs of investors and offer innovative solutions to help them achieve their financial goals.

Wealthfront users per year

Year Number of users
2012 1.4K+
2013 5.5K+
2014 21.5K+
2015 42.3K+
2016 89.6K+
2017 194.2K+
2018 281.4K+
2019 315.6K+
2020 357.4K+
2021 422.2K+
2022 443.1K+
2023/07 469K+
2024/05 800K+

Source: Wealthfront filings, Radient Analytics; Wealthfront website

Wealthfront AUM

Wealthfront’s assets under management (AUM) have been growing steadily similar to the increase in its user base. As more investors turned to digital platforms to manage their assets due to their convenience and low fees, Wealthfront has been well-positioned to benefit from this trend.

Wealthfront’s AUM has grown significantly over the years, starting from $33.73 million in February 2012. While Betterment was the first independent online financial advisor to reach $10 billion in AUM in 2017, Wealthfront accomplished this milestone a year later in 2018. As of May 2024, Wealthfront’s AUM increased and reached over $60 billion.

Wealthfront AUM

Year Assets Under Management (in USD)
2012 67.3M+
2013 427.7M+
2014 1.70B+
2015 2.61B+
2016 4.35B+
2017 8.22B+
2018 11.45B+
2019 13.59B+
2020 15.85B+
2021 24.87B+
2022 23.08B+
2023/07 25.28B+
2023/05 60B+

Source: SEC Wealthfront filings;

Wealthfront average account size

Although Wealthfront does not publicly disclose the average account size of its users, it is possible to estimate this figure based on available data. For instance, as of May 2024, Wealthfront manages over $60 billion in AUM with +800,000 users. Using these figures, we can estimate the average account size to be approximately over $75,000.

Here is the breakdown of the estimated average account size of Wealthfront by year:

Wealthfront average account size

Year Average account size (in thousands USD)
2012 48.4+
2013 78.0+
2014 79.4+
2015 61.7+
2016 48.5+
2017 42.3+
2018 40.7+
2019 43.1+
2020 44.3+
2021 58.9+
2022 52.1+
2023/07 53.8+
2024/05 75+

Wealthfront valuation

Wealthfront’s impressive valuations over the years can be attributed to the significant investments it has been able to attract from venture capitalists. By 2014, the company had secured over $65 million in funding, leading to a valuation of over $700 million. The company continued to receive funding and reached over $120 million in funding by the end of 2015. This valuation remained valid until 2018 when it was decreased to around $500 million

More recently, UBS announced its intention to acquire Wealthfront in a deal worth $1.4 billion. However, the deal was later terminated in September 2022.

Wealthfront valuation

Year Valuation (in USD)
2014 700M
2016 700M
2018 500M
2022 1.4B

Wealthfront revenue

Wealthfront generates revenue through various sources. The company’s primary revenue source is the annual management fee charged on AUM, which is only 0.25%. In addition, Wealthfront generates revenue through its lending program, “Portfolio Line of Credit” which allows clients to borrow against their investment accounts at a borrowing rate of 7.65% – 8.90% APR. The company also generates revenue through its debit card. 

Wealthfront is a privately held company and is not required to disclose its financial statements publicly. However, we can estimate the company’s revenue by calculating its portfolio management fees. Based on the company’s AUM of $60 billion and the annual management fee of 0.25%, Wealthfront’s revenue from portfolio management fees alone could be over $150 million. Therefore, it is reasonable to estimate that Wealthfront’s overall revenue exceeds $1150 million after including the other revenue segments.


In summary, Wealthfront has become a major player in the digital wealth management industry, providing its users with low-cost, advanced investment strategies and a user-friendly platform. 

With its AUM reaching $60 billion as of May 2024, it is now among the largest Robo-advisors by AUM. This growth proves that Wealthfront was capable of attracting and retaining investors with its innovative investment management services and diverse range of financial products.

Despite the failed UBS acquisition, the company remains poised for continued growth and expansion, thanks to its continued innovation and improvement. As more investors turn to digital platforms to manage their wealth, Wealthfront is well-positioned to benefit from this trend and continue to significantly impact the financial industry.

Other FAQs

Is Wealthfront safe and insured?

Yes, Wealthfront is safe and insured. Your investments are insured by the Securities Investor Protection Corporation (SIPC), which protects assets up to $500,000. Wealthfront also provides FDIC insurance for Cash Accounts by allocating your money across up to eight unaffiliated partner banks, providing you with up to $2 million in FDIC insurance.

Is Wealthfront regulated?

Yes, Wealthfront is a registered investment advisor with the U.S. Securities and Exchange Commission (SEC) and is regulated by FINRA.

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About the author
Author Avatar
Toni Nasr, CFA, FRM
Fintech Analyst

Toni is a Fintech Analyst with over 8 years of experience in the financial industry where he worked as a financial control analyst at a regional bank and later conducted independent investment research analysis.

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