Policy Effective Date: December 29, 2023
Wealthfront’s number one priority is your trust. Your privacy is essential to earning and keeping that trust. This tenet drives all of the decisions we make, as well as how we gather, use and store any information we acquire from you.
The categories of information we collect from Users differs from what we collect from those who qualify as Clients. Examples of instances when we collect Personal Information include:
We collect Personal Information from Users and Clients, including but not limited to:
In addition to the information described above, Clients provide us additional Personal Information, including but not limited to:
You are not required to provide these items to us to become a User, but Users who choose not to provide these items to us will not be able to become Clients.
Many of Wealthfront’s Users and Clients choose to input information from accounts at outside third-party financial institutions onto their Wealthfront dashboard on our Site or in our App. Although there is no requirement to do so, if you choose to enable Wealthfront to collect information from your outside accounts, Wealthfront retrieves your outside account information maintained by your outside financial institutions (“Outside Account Information”) as described in this section.
Users may request deletion of their Outside Account Information in accordance with the “Retention and Deletion” section below. Wealthfront does not share your Outside Account Information with outside parties except in limited cases relating to fraud investigations. In such fraud investigations, we may share certain of your Outside Account Information with your linked third-party institution. We also reserve the right to share Outside Account Information with third parties as required by law. If you choose to remove or deactivate a link to an account with a third-party institution, we will not retrieve any new Outside Account Information for that account unless you re-link that account in the future.
Due to the nature of our business, our Services are not available to minors. Except for beneficiary information as described above, Wealthfront does not knowingly solicit Personal Information directly from or about persons under the age of 18.
If you are under the age of 18, please do not submit any Personal Information to Wealthfront.
If you are a parent or guardian who becomes aware that, without your consent, your child under the age of 18 has directly provided us with Personal Information, you should contact us at email@example.com, and we will delete such information from our files to the extent permitted by regulatory requirements.
Other means by which we collect Personal Information include the following:
We will never rent, sell or trade your Personal Information to anyone. Ever.
We utilize the Personal Information of our Users for a variety of business purposes, such as to help our Users evaluate our Services, offer new products and services, enhance our Services, and for research and internal analysis.
Wealthfront stores, processes, and maintains Personal Information of our Clients for a variety of business reasons such as to provide client support, analyze and improve our Services, offer new products and services, and provide our Services to Clients in accordance with the rules of regulatory authorities..
We may use third-party vendors for identity verification. These vendors analyze whether the Client’s “selfie” matches the government-issued identity document. The information collected from Client photographs may constitute biometric information in some jurisdictions. Where required by law, we will seek consent from you prior to any such collection. We require our third-party vendors who support identity verification to agree to destroy any potential biometric data that is created or gathered for purposes of verifying your identity no more than ninety (90) days after its collection.
Your browsing activity may be tracked across different websites and different devices or apps. For example, we may attempt to match your browsing activity on your mobile device with your browsing activity on your computer. To do this, we may analyze your browsing patterns, geo-location and device identifiers to match the information of the browser and devices that appear to be used by the same person.
We may run sweepstakes and contests. The contact information you provide may be used to reach you about the sweepstakes or contest and for other Wealthfront promotional or marketing purposes. In some jurisdictions, we are required to publicly share some winner information.
We will not share or disclose your Personal Information (whether you are a current or former User or Client) to any unaffiliated third parties except:
You may decline to provide Personal Information to Wealthfront. Declining to provide Personal Information may disqualify you from using Wealthfront Services, the Site, the App, and other features that require certain Personal Information.
Where you have consented to Wealthfront’s use of your Personal Information, you may withdraw that consent at any time by contacting us by email or physical mail via the contacts indicated under the “Questions and Contacting Us” section below. Clients and Users cannot opt out of providing Wealthfront Personal Information and continue to use the Services. Even if you opt out, we may still collect and use non-personal information regarding your activities on our Services and for other legal and regulatory purposes as described above. In addition to withdrawing consent by contacting us, Clients and Users must close their account(s) in order to opt out of further providing Wealthfront with Personal Information.
Before we use Personal Information for any new purpose we will provide information regarding the new purpose.
We process requests to be placed on do-not-mail, do-not-phone, and do-not-contact lists as required by applicable law.
We may send you push notifications through our mobile application. You may at any time opt out of receiving these types of communications by changing the settings on your mobile device. We may also collect location-based information if you use our mobile applications. You may opt-out of this collection by changing the settings on your mobile device.
Users or Clients may contact us at firstname.lastname@example.org to request information about how to access your Personal Information.
Due to regulatory recordkeeping obligations, we may retain information related to you and your account, as well as any data related to your trades, in accordance with applicable laws. In no case will we share any individual trading data unless required by regulators or other government bodies, to support processing of settlement of your transactions, or in accordance with applicable laws.
Client Deletion Requests. In connection with separate regulatory recordkeeping obligations imposed on Wealthfront, we generally must maintain and cannot delete Personal Information associated with our Clients.
Wealthfront takes reasonable steps, endeavoring to use appropriate technical or organizational measures, to protect your Personal Information from loss, misuse, unauthorized access, alteration, disclosure, or destruction. However, no Internet, email, or electronic operating system that enables the transmission of data is ever fully secure or error-free; therefore, we cannot ensure or warrant the security of any information you transmit to us.
Please be aware that certain federal privacy laws govern the collection and record keeping of nonpublic Personal Information collected by Wealthfront, and state privacy laws may be inapplicable in certain situations related to such Personal Information.
Notice to California Residents
To the extent not covered by the federal privacy regulations noted above, California residents may have the following rights with respect to data collected by Wealthfront.
California law permits Users and Clients who are residents of California to request and obtain from us once a year, free of charge, a list of the third-parties to whom we have disclosed their Personal Information (if any) for those third-parties’ direct marketing purposes in the prior calendar year, as well as the type of Personal Information disclosed to those parties. Please note that this disclosure requirement only applies if we share Personal Information with third parties for those third parties to directly market their own products to those consumers, and Wealthfront does not share Personal Information with third parties for those third parties to directly market their own products to Users or Clients.
Under the California Consumer Privacy Act (CCPA) Users who are California residents may request and obtain from us twice a year, free of charge, information related to Personal Information we have collected in the 12 months preceding the request.
As noted above in the “Retention and Deletion” section, Users may also request the deletion of Personal Information Wealthfront has collected. Because of separate collection and record keeping requirements imposed on Wealthfront, deletion requests by those who qualify as Clients generally cannot be accommodated.