Company: WLTH
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000486
Chunk: 139

Company: WEALTHFRONT CORP
Filing Date: 2025-07-28
Form: DRS/A
Chunk 139
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 generates a consistent revenue stream for us.

14 Based on our APY for cash management products relative to the effective federal funds rate from January 1, 2022 to July 18, 2025.

<div align='center'>99</div>

Investment Advisory

We also generate revenue from our investment advisory products, which consists of fees charged for investment advisory and portfolio management services. Investment advisory fees are earned based on the market value, less fee waivers, of platform assets. As of January 31, 2025, for nearly all investment advisory assets, we earn a flat advisory fee of 0.25% annually, net of fee waivers, though this fee may evolve with new product launches. Investment advisory products includes diversified index ETF portfolios that are automatically rebalanced and offer free automated tax-loss harvesting to optimize their tax efficiency; our Automated Bond Ladders, which provide clients with a simple structured approach to fixed-income investments; and S&P 500 Direct that allows clients to gain direct exposure to the S&P 500 index through a low-cost, more tax efficient investment vehicle than an index fund. We have consistently improved our products after launching them, offering more value to clients while maintaining or reducing our already industry-leading low fees and account minimums. The ability to improve products while maintaining low fees is enabled by our continuous investment in our software and automation, which has enhanced our operating efficiency and allows us to scale without passing additional costs to our clients.

Our low advisory fees allow us to deliver superior value to clients without requiring a subscription. We empower our clients to implement and maintain passive investment strategies tailored to their individual risk tolerances. Our unbiased and automated advice delivers objective and personalized guidance, free from transactional pressures or upselling tactics. Our automated investing platform is scalable with minimal marginal cost per client, unlike traditional financial institutions’ investment or brokerage platforms which bear the cost of human advisors, or FinTech firms’ high variable costs to acquire clients. Our cost efficiency enables us to maintain attractive fees while our clients expand their wallet share with us. As our clients consolidate their assets on the Wealthfront platform, we deepen not only our clients’ engagement with our platform but also the trust-based relationship we have with them.

Other Revenue

Beyond cash management and investment advisory, we also generate revenue by offering additional services such as margin lending through a portfolio line of credit, fully paid securities lending, and proxy distribution. These products expand our client delight and lifetime value, deepen our client engagement and trust, drive client retention and increase monetization.

#### Key Factors