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Wealthfront updated its privacy policy effective June 2, 2026 to clarify how it collects personal information about minors and to disclose its use of client data to train and develop AI-powered features. The prior policy stated the company does not knowingly solicit personal information directly from minors under 18; the updated policy now explicitly states that it may collect information about minors when adult account holders designate them as beneficiaries, or when custodians provide information during account opening, while clarifying the company does not have actual knowledge of collecting information directly from minors themselves. The policy also adds new language stating that AI features may be trained using client personal information and disclaiming that AI outputs constitute investment advice or are guaranteed to be accurate.
The updated policy establishes that Wealthfront may collect personal information about minors when adult account holders designate them as beneficiaries or when custodians provide information during account opening. The policy clarifies that the company does not have actual knowledge of collecting information directly from minors themselves. Additionally, the revised terms disclose that the company may use client personal information to train, develop, and improve AI-powered features, which may be tested with employees or released to clients. The policy states that AI feature outputs are provided for informational purposes only and do not constitute investment advice, and that Wealthfront makes no representation that such outputs are accurate, complete, or suitable for any purpose. If you become aware your child has directly provided information to Wealthfront without your consent, you may contact support@wealthfront.com to request deletion.
The updated policy establishes explicit authorization for two practices previously described in narrower or negative terms: collection of minor beneficiary information and use of client data for AI training. This clarification affects how clients should understand what data Wealthfront processes and how it may be used, and creates materiality for compliance teams assessing whether vendor data practices align with their own privacy policies and regulatory obligations. The AI output disclaimer is operationally significant because it establishes that AI-generated recommendations should not be treated as investment advice, which affects how financial advisors and clients may use such outputs.
→ Review the updated privacy policy to understand how your personal information may be used to train AI features.
→ If you have designated a minor as a beneficiary, review the policy's clarification that personal information about the minor may be collected during account setup.
→ If you receive AI-generated outputs from Wealthfront, treat them as informational only and not as investment advice or financial recommendations.
→ Client personal information will be used to train and develop AI features as stated in the updated policy.
→ AI-generated outputs will be provided without guarantee of accuracy or suitability, as disclaimed in the updated terms.
→ If a minor is designated as a beneficiary, personal information about the minor may be collected and retained as part of the account management process.
Wealthfront may use client personal information to train, develop, test, and improve AI-powered features without separate consent.
Company may collect personal information about minors when designated as beneficiaries by adult account holders or when custodians provide information during account setup.
AI-generated outputs are disclaimed as informational only, not investment advice, and not guaranteed to be accurate or suitable.
This change record describes what was added, removed, or modified in the document. Analysis reflects what the updated agreement states or permits. It does not constitute a legal determination about enforceability. Applicability may vary by jurisdiction. Methodology
If you are a Wealthfront client, the company may use your personal information to build and test AI tools, and you should know this is happening.
If you set up an account for a minor beneficiary, Wealthfront may collect information about that minor; this collection is now explicitly disclosed rather than treated as an exception.
The process for requesting deletion of a minor's information remains available, but the language has been streamlined; parents should still contact support@wealthfront.com if they learn their child directly provided personal information.
Wealthfront's updated privacy policy adds two material disclosures effective June 2, 2026: (1) clarification that personal information about minors may be collected when adult account holders designate minors as beneficiaries or custodians provide information during account setup, and (2) authorization to use client personal information for AI feature development, testing, and deployment. The minor data collection disclosure may engage COPPA (Children's Online Privacy Protection Act) interpretation, though Wealthfront's model of collecting data about minors only through adult custodians (not directly from minors) may fall outside COPPA's direct-collection requirements. The AI training authorization requires assessment against GDPR Article 6 lawfulness (for EU users), state AI governance frameworks, and internal data processing impact assessments. Organizations with Wealthfront in their vendor stack should evaluate whether these disclosures materially affect their privacy notices, DPAs, or data controller assessments, particularly if they represent clients whose data may feed AI training pipelines.
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Analyst $49/moConductAtlas provides verified policy intelligence sourced directly from platform documents. All analysis is intended to support, not replace, legal and compliance review. Record CA-C-002583.
Wealthfront updated its Privacy Policy on June 28, 2026 to disclose use of automated tools, including large language models, in …
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