Company: WLTH
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000486
Chunk: 179

Company: WEALTHFRONT CORP
Filing Date: 2025-07-28
Form: DRS/A
Chunk 179
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 retention was greater than 120% for each of the last eleven fiscal years.

Our product-led strategy makes it possible for us to acquire and retain clients through a combination of organic and cost-disciplined marketing initiatives. Our innovative products, coupled with a high level of satisfaction and trust, have contributed to a differentiated word-of-mouth growth engine rather than relying on less efficient marketing spend.

Wealthfront’s focus on long-term wealth accumulation resonates with clients who value a long-term investment horizon rather than short-term gains. Our commitment to financial education sets us apart, as we aim to equip our clients with financial best practices rather than encourage transactions. This fundamentally different approach is designed to encourage our clients to remain patient and minimize their active engagement on our platform. Clients are prompted to give their wealth time in the market, not to time the market, even in light of market volatility.

In addition to organic growth, we leverage referral programs that incentivize existing clients to introduce new users to our platform, further driving expansion. Over the past two fiscal years, over 50% of new clients were referred by existing clients. Our marketing expense was only 10% of our revenue in fiscal 2024 and 17% in fiscal 2025, placing us among the most cost-efficient consumer-focused financial

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platforms in the industry. We see significant potential for further client and asset growth as we expand our client acquisition efforts.

Our platform also actively encourages existing clients to explore and adopt additional Wealthfront products. As of January 2025, 28% of our clients have funded both cash management and investment advisory accounts, a figure that we anticipate will continue to rise. We leverage data insights to tailor product recommendations to align with client needs, ensuring that our offerings remain relevant and appealing.

#### M&A and Expansion
We view mergers and acquisitions as another way to expand our platform and to find innovative, inorganic growth solutions that we can acquire and scale.

#### Our Products
Wealthfront offers digital and automated cash management, investment advisory, borrowing and lending, and financial planning products to solve our clients’ everyday and long-term financial needs. Our investment philosophy is to help clients focus on what they can control: fees, taxes, and diversification. As a result, Wealthfront provides products across the efficient frontier of risk and reward, including cash accounts, bond ETF and ladder portfolios, diversified ETF portfolios, S&P 500 Direct, and stock investing. These products are offered to clients for a simple, low and transparent