{"id":3448,"date":"2012-11-12T06:30:18","date_gmt":"2012-11-12T14:30:18","guid":{"rendered":"http:\/\/www.wealthfront.com/blog\/?p=3448"},"modified":"2022-01-11T17:12:44","modified_gmt":"2022-01-12T01:12:44","slug":"burton-malkiel-joins-wealthfront-as-cio","status":"publish","type":"post","link":"https:\/\/www.wealthfront.com/blog\/burton-malkiel-joins-wealthfront-as-cio\/","title":{"rendered":"Burton Malkiel Joins Wealthfront As CIO"},"content":{"rendered":"

\"Dr.<\/a>We\u2019re honored to announce that famed economist Burton Malkiel, who helped launch the low-cost investing revolution with A Random Walk Down Wall Street<\/em>, has joined Wealthfront as our Chief Investment Officer.<\/p>\n

Dr. Malkiel <\/a>is one of the most important public voices in investment management and a leading light in the index investing movement. He\u2019s an emeritus Princeton University economics professor, a former board member of Vanguard Group, and a former member of the President\u2019s Council of Economic Advisors.<\/p>\n

As Chief Investment Officer, Burt will help Wealthfront continue to improve our investment services, including the choice of asset classes, the way we allocate among different classes, the choice of securities and the methods by which we evaluate risk and apply those evaluations to client portfolios. He\u2019ll also meet with select groups of Wealthfront clients and offer investing insights to clients and the public.<\/p>\n

\n

“A successful investor is generally a well-rounded individual who puts a natural curiosity and an intellectual interest to work to earn more money.” \u2013 Burton Malkiel<\/span><\/p>\n<\/div>\n

We were thrilled when, after advising us on a number of ways to improve our service, he agreed to join Wealthfront.<\/p>\n

\u201cI love Weathfront\u2019s mission and vision,\u201d Burt says. \u201cSoftware-based advice is the only way in which the little guy can get professional financial advice without paying an arm and a leg for it.\u201d<\/p>\n

Value of professional financial advice<\/h2>\n

Burt has been a proponent of software that helps investors minimize their taxes through a strategy called tax-loss harvesting<\/a> (TLH). \u201cI do not mean to suggest that you attempt to cheat the government,\u201d he wrote in A Random Walk Down Wall Street<\/a><\/em>, first published in 1973. \u201cBut I do mean to suggest that you take advantage of every opportunity to make your savings tax-deductible and to let your savings and investments grow tax-free.\u201d<\/p>\n

In the book, Burt was referring to year-end tax-loss harvesting. One of the things that most excited him about working with Wealthfront was the opportunity through software to do continuous tax-loss harvesting, which can increase the tax savings available to clients each year.<\/p>\n

Unbiased advice<\/h2>\n

Burt also is a long-standing critic of brokers who offer advice to clients while they accept commissions and kickbacks from mutual fund companies. Wealthfront has been dedicated since its founding to providing its clients with low cost, unbiased financial advice. We never accept payments from the providers of investment products.<\/p>\n

\u201cOne thing you can be sure of in investing is that the lower the fee, the more stays with investors,\u201d Burt says. \u201cWealthfront is providing this service not only at low cost, but for free to people with the smallest portfolios.\u201d<\/p>\n

As you can see in this video clip<\/a>, Burt has been advocating for diversified and periodically rebalanced low-cost portfolios for years.<\/p>\n

\u201cI\u2019ve been working in investor education all my life, delivering these messages,\u201d he says. \u201cIn Wealthfront, I\u2019ve found people who believe as I do, and can make a high-quality service possible for everyone.\u201d<\/p>\n

We can\u2019t think of anyone better to help us deliver on our mission to democratize sophisticated financial advice.<\/p>\n

To receive regular insights from Burt Malkiel and Wealthfront, please send an email to betsy@wealthfront.com.<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

We\u2019re honored to announce that famed economist Burton Malkiel, who helped launch the low-cost investing revolution with A Random Walk Down Wall Street, has joined Wealthfront as our Chief Investment Officer. Dr. Malkiel is one of the most important public voices in investment management and a leading light in the index investing movement. He\u2019s an […]<\/p>\n","protected":false},"author":43,"featured_media":7227,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1282],"tags":[1392,1393,1359,1324,1362],"coauthors":[84],"class_list":["post-3448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-burt-malkiel","tag-burton-malkiel","tag-tax-loss-harvesting","tag-vanguard","tag-wealthfront"],"acf":[],"yoast_head":"\nBurton Malkiel Joins Wealthfront As CIO | Wealthfront<\/title>\n<meta name=\"description\" content=\"Famed economist Burton Malkiel, low-cost investing revolutionary and author of A Random Walk Down Wall Street, joins online financial advisor, Wealthfront.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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