Wealthfront, the automated investing platform, has filed with the Securities and Exchange Commission this week for an initial public offering. In the initial registration form filed with the SEC on Monday, Wealthfront said it plans to list its common stock on the NASDAQ Global Select Market under the symbol “WLTH.”
The offering has not yet been priced, so it remains to be seen how much capital Wealthfront will raise in the public markets.
In June, Wealthfront confidentially submitted a draft Form S-1, the initial step companies take with regulators when considering going public.
Wealthfront was founded in 2008 and has become one of the industry’s premier robo advisors. According to the S-1, Wealthfront had about $88 billion in platform assets and 1.3 million customers as of July 2025. David Fortunato is the firm’s 39-year-old CEO; he joined the company in 2009 as one of its first engineers, according to Barron’s.
The registration statement projects Wealthfront’s year-over-year growth in platform assets to be 24%, by the second quarter 2026. It expects year-over-year revenue growth of 26% to $339 million for the 12 months ending in the second quarter of 2026.
“Wealthfront is first and foremost a technology company,” Fortunato writes in the Form S-1. “We think the best way to deliver financial products at scale is through automated infrastructure. It lowers our costs, allowing us to share the savings with our clients, and improves the client experience.
“As a technology company, we see most challenges as technology challenges,” he writes. “We believe that, over time, the continual improvement of our technology allows us to offer better products and serve more clients at lower costs.”
Since its founding, the Palo Alto, Calif.-based firm has eschewed working with human financial advisors, contrasting with some robo advisor competitors like Betterment, with co-founder Andy Rachleff saying in 2021 that the hybrid model hadn’t worked, and that Wealthfront has been “validated in the approach that we take.”
In January 2022, UBS announced plans to acquire Wealthfront in a $1.4 billion cash deal that would have added Wealthfront’s (at the time) 400,000+ clients into the Swiss bank’s fold. However, by September of that year, the firms agreed to end the merger acquisition. Instead, UBS purchased a $69.7 million note convertible into Wealthfront shares.
In 2021, Wealthfront added several funds to its customizable robo portfolios, including two cryptocurrency trusts (Greyscale’s Bitcoin and Ethereum). Advisors could select from a menu of investments, including several Dimensional Fund Advisors’ ETFs and Wealthfront’s Risk Parity Fund (which the firm announced it would shutter late last year).
The company has chosen Goldman Sachs and J.P. Morgan as lead book runners on the offering, with Citigroup, Wells Fargo Securities and RBC Capital Markets as active bookrunners. Citizens Capital Markets, Keefe, Bruyette & Woods, A Stifel Company and KeyBanc Capital Markets are co-managers on the deal.
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