Wealthfront collects selfie photographs and government ID images for identity verification, which may be considered biometric data under some state laws, and requires vendors to delete this data within 90 days.
This analysis describes what Wealthfront's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes the operational framework for biometric data handling during account onboarding, establishing both the authorization for collection and a mandatory retention window followed by destruction protocols. The requirement for vendor compliance on data destruction creates a specific procedural obligation tied to Wealthfront's third-party vendor management.
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.
View change record →Your facial biometric data is collected during identity verification and shared with third-party vendors, though those vendors are contractually required to destroy it within 90 days of collection, limiting long-term exposure.
How other platforms handle this
You may give us your Identity Data, Contact Data, Financial Data, Profile Data, and other information by filling in forms or by corresponding with us by post, phone, e-mail or otherwise.
NIM container releases that collect data, collect it for the following purposes: (a) to properly configure and optimize products for use with Software; and (b) to improve NVIDIA products and services.
Some of our ad partners may also enable us to collect similar data directly from their website or app by integrating our or our affiliates' advertising technology.
"We may use third-party vendors for identity verification. These vendors analyze whether the Client's "selfie" matches the government-issued identity document. The information collected from Client photographs may constitute biometric information in some jurisdictions. Where required by law, we will seek consent from you prior to any such collection. We require our third-party vendors who support identity verification to agree to destroy any potential biometric data that is created or gathered for purposes of verifying your identity no more than ninety (90) days after its collection.Excerpt from Wealthfront's Privacy Policy
Collection of biometric data triggers obligations under BIPA (Illinois), CUBI (Texas), and similar state biometric privacy laws, requiring informed consent, data use policies, and destruction schedules; the 90-day vendor destruction requirement appears designed to address …
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This provision establishes the operational framework for biometric data handling during account onboarding, establishing both the authorization for collection and a mandatory retention window followed by destruction protocols. The requirement for vendor compliance on data destruction creates a specific procedural obligation tied to Wealthfront's third-party vendor management.
Your facial biometric data is collected during identity verification and shared with third-party vendors, though those vendors are contractually required to destroy it within 90 days of collection, limiting long-term exposure.
ConductAtlas has identified this type of provision across 296 platforms. See the full comparison.
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