"High Interest Rates Revitalize Struggling Robo-Advisor"
Originally Published 1 year ago — by Forbes
Wealthfront, a robo-advisor, has achieved profitability for the first time in its 14-year history, largely due to high interest rates that boosted its high-yield cash accounts. The company, which faced a major setback when UBS canceled its acquisition deal, has seen its assets and revenue grow significantly. However, it faces future challenges as interest rates may eventually decline, requiring new strategies to maintain growth and profitability.