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Wealthfront
Wealthfront Inc. is an automated investment service firm based in Palo Alto, California, founded by Andy Rachleff and Dan Carroll in 2008. As of September 2019, Wealthfront had $21 billion AUM across 400,000 accounts. History Wealthfront was founded by Benchmark co-founder Andy Rachleff and Dan Carroll in 2008 as kaChing, a mutual fund analysis company, before pivoting into wealth management. Rachleff was the firm's founding CEO. In December 2012, the firm started tax-loss harvesting for accounts of more than $100,000. The company started 2013 with $97 million in assets under management and grew by 450% in one year. In 2013, Wealthfront introduced "direct indexing", a tax-loss harvesting platform that purchases the individual securities of an investment portfolio. Between January 2014 and October 2016, Adam Nash was Wealthfront's CEO. Founder Andy Rachleff retook the role in 2016. In 2016, Wealthfront launched a partnership with the state of Nevada to launch a 529 tax-adva ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andy Rachleff
Andy Rachleff is a co-founder and Executive Chairman of Wealthfront. He had previously been the executive chairman of the company after stepping down as the CEO, but then returned to the CEO role on October 31, 2016. Rachleff co-founded Benchmark Capital in 1995 and was a general partner until 2004. Prior to Benchmark, Rachleff was a general partner with Merrill, Pickard, Anderson & Eyre. Career Rachleff co-founded Benchmark Capital, a venture capital firm, in 1995. The firm invested in companies including eBay, OpenTable, Snapchat, Twitter and Uber. Rachleff led investments in Blue Coat Systems, Equinix and Juniper Networks. In 2000, Rachleff joined the University of Pennsylvania Board of Overseers for the school of engineering. He retired from Benchmark Capital in late 2004 and began teaching technology entrepreneurship courses at Stanford Graduate School of Business in January 2005. In 2005, he also joined the University of Pennsylvania board of trustees where he is the Chairma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Nash (executive)
Adam Nash is the CEO and co-founder of Daffy, a new fintech platform focused on charitable giving. Nash has been influential in fintech most notably as a serial angel investor, advisor, and board member in over 100 companies such as Acorns, Gusto, Figma, and Opendoor. His investments are geared towards making financial tools more accessible to the public via tech-enabled products. Nash’s interest in democratizing access to technology and its communities extends through his non-profit work starting in 2011 with Oshman Family JCC and most recently as the co-Chairman of ICON, a non-profit organization with the mission of creating a community in Silicon Valley for those who are passionate about Israeli technology & innovation and harnessing the strength of this community to help Israeli entrepreneurs & startups. Nash currently serves as an adjunct lecturer at Stanford University. He was the Vice President of Product & Growth for Dropbox from 2018 to February of 2020. Nash was p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Burton Malkiel
Burton Gordon Malkiel (born August 28, 1932) is an American economist and writer most noted for his classic finance book ''A Random Walk Down Wall Street'' (first published 1973, in its 12th edition as of 2019). He is a leading proponent of the efficient-market hypothesis, which contends that prices of publicly traded assets reflect all publicly available information, although he has also pointed out that some markets are evidently inefficient, exhibiting signs of non-random walk. Malkiel is the Chemical Bank chairman's professor of economics at Princeton University, and is a two-time chairman of the economics department there. He served as a member of the Council of Economic Advisers (1975–1977), president of the American Finance Association (1978), and dean of the Yale School of Management (1981–1988). He also spent 28 years as a director of the Vanguard Group. He currently serves as Chief Investment Officer to software-based financial advisor, Wealthfront Inc. and as a memb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robo-advisor
Robo-advisors or robo-advisers are a class of financial adviser that provide financial advice and investment management online with moderate to minimal human intervention. They provide digital financial advice based on mathematical rules or algorithms. These algorithms are designed by financial advisors, investment managers and data scientists, and coded in software by programmers. These algorithms are executed by software and do not require a human advisor to impart financial advice to a client. The software utilizes its algorithms to automatically allocate, manage and optimize clients' assets for either short-run or long-run investment.D'Acunto, Francesco & Prabhala, N. & Rossi, Alberto G. (2019)"The Promises and Pitfalls of Robo-Advising." Review of Financial Studies /ref> Robo-advisors are categorized based on the extent of personalization, discretion, involvement, and human interaction.D'Acunto, Francesco & Rossi, Alberto G. (2020)"Robo-Advising." Available at SSRN /ref> There ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DAG Ventures
DAG Ventures is an American venture capital firm based in Palo Alto, California. DAG Ventures works with startups in providing early stage and growth stage funding. Since its founding in 2004, by Tom Goodrich and John Cadeddu, the firm has backed nearly 180 ventures, including Ambarella Inc., Armo Biosciences, Eventbrite, Fireeye, Glassdoor, Grubhub, Nextdoor, Wealthfront, Wix.com, Yelp, and Zettle Zettle by PayPal (previously known as iZettle) is a Swedish financial technology company founded by Jacob de Geer and Magnus Nilsson in April 2010. Launching its first app and service in 2011, the company offers a range of financial products in .... Funds DAG Ventures was created out of Duff Ackerman & Goodrich, a private investment firm formed in 1991. In June 2011, DAG Ventures announced their fifth fund. In 2019, founding members of DAG Ventures launched a new venture fund, the Corner Ventures DAG Fund. Investments DAG Ventures has invested in almost 250 startups, since it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wash Sale
A wash sale is a sale of a security ( stocks, bonds, options) at a loss and repurchase of the same or substantially identical security (judging by CUSIP or Committee on Uniform Securities Identification Procedures numbers) shortly before or after. Losses from such sales are not deductible in most cases under the Internal Revenue Code in the United States. Wash sale regulations disallow an investor who holds an unrealized loss from accelerating a tax deduction into the current tax year, unless the investor is out of the position for some significant length of time. A wash sale can take place at any time during the year, or across year boundaries. In the United Kingdom, a similar practice which specifically takes place at the end of a calendar year is known as bed and breakfasting. In a bed-and-breakfasting transaction, a position is sold on the last trading day of the year (typically late in the trading session) to establish a tax loss. The same position is then repurchased ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg News
Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, ''Bloomberg Businessweek'', ''Bloomberg Markets'', Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has served as editor-in-chief. History Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers. The agency was established in 1990 with a team of six people. Winkler was first editor-in-chief. In 2010, Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 news bureaus worldwide. Beginnings (1990–1995) Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for ''The Wall Street Journal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Social+Capital Partnership
Social Capital, formerly known as Social+Capital Partnership, is a venture capital firm based in Palo Alto, California. The firm specializes in technology startups, providing seed funding, venture capital, and private equity. The firm has "stood out strategically", according to ''Fortune'', "with a focus on ... healthcare, financial services and education ... when those fields were ... neglected by the VC community." History Social Capital was founded in 2011 by Chamath Palihapitiya, who had previously worked at Facebook. Mamoon Hamid and Ted Maidenberg also joined the firm that year as General Partners. In January 2015, ''Fortune'' reported that Kleiner Perkins was in acquisition talks with Social Capital, but the acquisition reportedly fell through. In May 2015, Social Capital raised $600 million in their third and largest venture capital fund. PayPal cofounder Peter Thiel praised Palihapitiya's approach, and as of 2015 served as a limited partner. In 2017, Marc Mezvinsky jo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Index Ventures
Index Ventures is a European venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/ AI, and security. Since its founding in 1996, the firm has invested in a number of companies and raised approximately $5.6 billion. Index Venture partners appear frequently on ''Forbes''’ Midas List of the top tech investors in Europe and Israel. History Index Ventures has its origins in a Swiss bond-trading firm called Index Securities, founded by Gerald Rimer in 1976. In 1992, Rimer recruited his son, Neil, to join the firm, and together they launched its technology investment arm, which would evolve into an independent entity, Index Ventures. Index Ventures was officially founded in 1996 by Neil Rimer, David Rimer and Giuseppe Zocco, when they raised a pilot fund of $17 million, followed by a $180 million fund in 1998. Index Ventures began invest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benchmark Capital
Benchmark is a venture capital firm based in San Francisco that provides seed money to startups. History The firm's most successful investment was a 1997 investment of $6.7 million in eBay for 22.1% of the company. In 2011, it invested $12 million for an 11% stake in Uber, worth $7 billion in 2019. The firm's most infamous investment was in WeWork, the troubled office rental social networking company. On April 1, 2012, Benchmark became WeWork's first major investor when it led WeWork’s $17 million Series-A seed funding. Companies funded by the firm include Dropbox, Twitter, Uber, Snapchat, Instagram, Discord,Takahashi"Fates Forever mobile game maker Hammer & Chisel raises funding from Benchmark and Tencent" ''Venture Beat'', February 10, 2015. Domo, New Relic, Nextdoor, Stitch Fix, WeWork, Yelp, Zendesk, Zillow and Zipcar. Partner structure Benchmark is noted for creating the first equal ownership and compensation structure for its partners. The "maverick" firm differs fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wells Fargo
Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and internationally. The company has operations in 35 countries with over 70 million customers globally. It is considered a systemically important financial institution by the Financial Stability Board. The firm's primary subsidiary is Wells Fargo Bank, N.A., a national bank which designates its Sioux Falls, South Dakota site as its main office. It is the fourth largest bank in the United States by total assets and is also one of the largest as ranked by bank deposits and market capitalization. Along with JPMorgan Chase, Bank of America and Citigroup. Wells Fargo is one of the "Big Four Banks" of the United States. It has 8,050 branches and 13,000 ATMs. It is one of the most valuable bank brands. Wells Fargo, in its present form, is a result of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HSBC Bank USA
HSBC Bank USA, National Association, an American subsidiary of multinational company HSBC, is a bank with its operational head office in New York City and its nominal head office in McLean, Virginia (as designated on its charter). HSBC Bank USA, N.A. is a national bank chartered under the National Bank Act, and thus is regulated by the Office of the Comptroller of the Currency (OCC), a part of the U.S. Department of the Treasury. The company has 159 branch locations. In 2012, HSBC paid a record $1.9 billion fine for laundering more than $881,000,000 on behalf of criminal cartels, such as the Sinaloa drug cartel. While under probation for these actions, leaked documents from 2020 revealed that HSBC continued to process substantial transactions with alleged criminal networks, even after HSBC compliance staff warned about specific clients. History In 1980, The Hongkong and Shanghai Banking Corporation acquired a 51% controlling interest in Marine Midland Bank, headquartered in Bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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