When you link an outside bank or investment account to Wealthfront, you are authorizing Wealthfront to repeatedly log into that account on your behalf using your credentials, for as long as the link is active, not just once.
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 authorization is broad and ongoing: it grants Wealthfront and its subprocessors (Yodlee or Plaid) continuous access to your external financial accounts, including transaction history and balances, until you actively remove the link.
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 →This addition explicitly documents ongoing re-authorization for continuous account access beyond initial aggregation, which is a material expansion of credential access permissions.
View full change record →Consumers who link external financial accounts grant Wealthfront and its service providers repeated access to those accounts, including all available account information, with this authorization persisting until the consumer actively deactivates the account link.
How other platforms handle this
You and your organization's administrator can access several types of Service Data directly from Google Cloud, including your account information, billing contact information, payment and transaction information, as well as product and communication settings and configurations.
If you registered to use Notion's Services with such an email address, but you do not use the Services in connection with your organization...you may transfer your account to a different email address.
We will also provide an individual opt-out choice, or opt-in for sensitive data, before we share your data with third parties other than our agents, or before we use it for a purpose other than which it was originally collected.
"By choosing to use our Services to aggregate and analyze your Outside Account Information, you expressly authorize and direct Wealthfront, on your behalf, to access all Outside Account Information available via the login credentials you provide. You also authorize and direct Wealthfront periodically to refresh your retrieved Outside Account Information by re-accessing your linked third-party accounts using your login credentials for so long as the ACH link remains active.Excerpt from Wealthfront's Privacy Policy
(1) REGULATORY LANDSCAPE: This provision engages the Electronic Fund Transfer Act (EFTA) and Regulation E regarding authorized account access, as well as emerging Consumer Financial Protection Bureau open banking rules under Section 1033 of the …
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This authorization is broad and ongoing: it grants Wealthfront and its subprocessors (Yodlee or Plaid) continuous access to your external financial accounts, including transaction history and balances, until you actively remove the link.
Consumers who link external financial accounts grant Wealthfront and its service providers repeated access to those accounts, including all available account information, with this authorization persisting until the consumer actively deactivates the account link.
ConductAtlas has identified this type of provision across 290 platforms. See the full comparison.
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