Robo adviser Wealthfront settles with SEC

The Securities and Exchange Commission said Friday that Redwood City-based Wealthfront Advisers LLC agreed to settle the agency’s claims against the fintech for a $250,000 fine.

In its first actions against a robo advisers, the SEC alleged that Wealthfront, with more than $11 billion in assets under management, made false statements about its investment products and published misleading advertising. Wealthfront settled without admitting or denying that it misled investors about its services.


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