News & Events zu Wealthfront Corp (WLTH)WLTHWealthfront Corp

Total Platform Assets Reach Record High of $99.1 Billion at June End

"Total Platform Assets reached another month-end record at the end of June at $99.1 billion due to Investment Advisory Net Deposits," said CEO David Fortunato. "These figures include continued strength in net cross-account transfers to and cross-product adoption of Investment Advisory accounts, driving asset-weighted cross-product adoption up to over 63% at June-end. We are encouraged by our recent, sustained success in driving higher asset-weighted cross-product adoption as well as the increased month-over-month growth in Funded Clients in June, highlighting the diversified and durable nature of our business model."

Q1 Revenue at $90.48M, Below Consensus

Reports Q1 revenue $90.48M, consensus $91.77M. David Fortunato - CEO, president and director: "We shipped significant enhancements throughout the quarter, including expanded access to Wealthfront Home Lending and improvements to our Cash Management and Investment Advisory products. Our Cash Accounts supported a significantly larger dollar volume of direct client tax payments this past tax season, reflecting the growing trust our clients place in us to seamlessly handle their largest liquidity needs. We ended the quarter with record Total Platform Assets of $96.6 billion despite a dynamic macroeconomic environment and are confident our diverse product suite puts us in a strong position for the long-term."

Wealthfront Reports March Platform Assets at $93.2B

Wealthfront reported select monthly metrics for March. Platform assets at the end of March were $93.2B, a decrease of 2% from the end of February and an increase of 15% year-over-year. Total net deposits in March were $596M. Funded clients at the end of March were 1.44M, an increase of 1% from the end of February and 16% year-over-year.