“In connection with separate regulatory recordkeeping obligations imposed on Wealthfront, we generally must maintain and cannot delete Personal Information associated with our Clients.”
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 informs Clients that regulatory obligations override data deletion requests, meaning Client Personal Information will generally be retained regardless of a deletion request.
Interpretive note: The word 'generally' preserves the possibility of exceptions in undefined circumstances.
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 →If you are a Wealthfront Client, your Personal Information generally cannot be deleted at your request due to Wealthfront's regulatory recordkeeping obligations.
How other platforms handle this
When Personal Information is no longer needed for the purposes for which it was collected, we securely delete, anonymize, or put it beyond use.
We shall promptly destroy personal information without delay when the retention period has expired or when the purpose of processing has been achieved, and the personal information is no longer necessary.
We retain your personal information for as long as reasonably necessary to fulfill the purposes described in this Privacy Policy or for the period legally permitted or required.
"In connection with separate regulatory recordkeeping obligations imposed on Wealthfront, we generally must maintain and cannot delete Personal Information associated with our Clients.Excerpt from Wealthfront's Privacy Policy
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This clause informs Clients that regulatory obligations override data deletion requests, meaning Client Personal Information will generally be retained regardless of a deletion request.
If you are a Wealthfront Client, your Personal Information generally cannot be deleted at your request due to Wealthfront's regulatory recordkeeping obligations.
ConductAtlas has identified this type of provision across 267 platforms. See the full comparison.
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