Wealthfront, Betterment, and the robo-advisor resurrection
TL;DR: Betterment and Wealthfront survived the robo-advisor purge by building the biggest brands in the space—before the cost of customer acquisition (CAC) soared to $650+. With interest rates rising, both put up record growth numbers in 2023 through their high-yield cash accounts, buying them time to figure out their next phase. For more, check out our reports on Betterment (dataset) and Wealthfront (dataset) and our interview with a former employee of Chime...
First published on 3/9/2024
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