“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.”
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 clause places a time-bound destruction obligation on vendors handling biometric data, limiting how long that sensitive category of data may be retained in the identity-verification supply chain.
Interpretive note: The clause uses the phrase 'potential biometric data,' which introduces ambiguity about whether the data in question is definitively biometric. The destruction obligation runs to vendors by contract, not directly to Wealthfront as a self-executing retention rule.
The updated policy discloses that Wealthfront uses automated tools, including large language models, to process documents submitted as part of loan applications and prequalification inquiries. The policy states these tools will not be used to make credit decisions, and that data from automated processing may be used for internal improvements but will not be retained or used by external vendors. Loan applicants and prequalification users should review this disclosure to understand how their submitted documents will be processed.
View change record →The updated policy discloses 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 also states that Wealthfront uses client personal information to train, develop, test, and improve AI-powered features that may be made available to employees and clients; the policy clarifies that outputs from these AI features are informational only and do not constitute investment advice or recommendations. The revised parental notification clause removes the phrase 'without your consent,' meaning parents should contact Wealthfront if they become aware their child has directly provided personal information, regardless of whether consent was given.
View change record →Biometric data collected for your identity verification must be destroyed by Wealthfront's vendors no later than 90 days after collection.
How other platforms handle this
ALPR Information is stored for approximately 30 days before it is permanently deleted unless the information is retained for investigative or legal purposes.
When we destroy your personal information, we do so in a way that prevents that information from being restored or reconstructed.
In jurisdictions where we offer Friendly Faces, if you enable Friendly Faces, we delete any Facial Data after 30 days if you do not assign it a name...
"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
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This clause places a time-bound destruction obligation on vendors handling biometric data, limiting how long that sensitive category of data may be retained in the identity-verification supply chain.
Biometric data collected for your identity verification must be destroyed by Wealthfront's vendors no later than 90 days after collection.
ConductAtlas has identified this type of provision across 267 platforms. See the full comparison.
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