Company: WLTH
Filing Date: 2025-12-11
Form Type: S-1/A
Source: 0001628280-25-056439
Chunk: 187

Company: WEALTHFRONT CORP
Filing Date: 2025-12-11
Form: S-1/A
Chunk 187
---
 to an 81% increase, year over year, in the average balance of cash management assets and net deposits of $13.0 billion in the fiscal year ended January 31, 2025. In November 2023, we increased the APY our clients receive on their program deposits without an associated increase in the benchmark. As a result, the annualized cash management fee rate received for the delivery of cash management services declined by 17% in the fiscal year ended January 31, 2025, compared to the prior year. See the section titled “—Components of Operations—Revenue” for additional information.

24 Wealthfront accrues and/or recognizes cash management revenue on a daily basis. The chart shows resulting averages for the periods presented.

<div align='center'>130</div>

Investment Advisory 25

|                                                                         | (in millions, except annualized rate and percentages) | Fiscal Year Ended January 31, |   2024 |   |     |   |   2025 |   |     |   | Change |   |     |     | % Change |   |
|:------------------------------------------------------------------------|:------------------------------------------------------|:------------------------------|-------:|:--|:----|:--|-------:|:--|:----|:--|-------:|:--|:----|:----|---------:|:--|
| Investment advisory assets (off-balance sheet), beginning of the period |                                                       | $                             | 24,083 |   |     | $ | 28,240 |   |     | $ |  4,157 |   |     |     |       17 | % |
| Investment advisory assets (off-balance sheet), end of the period       |                                                       |                               | 28,240 |   |     |   | 37,764 |   |     |   |  9,524 |   |     |     |       34 | % |
| Average(1)                                                              |                                                       |                               | 26,162 |   |     |   | 33,002 |   |     |   |  6,840 |   |     |     |       26 | % |
| Investment advisory revenue                                             |                                                       | $                             |   56.1 |   |     | $ |   73.0 |   |     | $ |   17.0 |   |     |     |       30 | % |
| Annualized investment advisory fee rate(2