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
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 →How other platforms handle this
Comply with applicable laws, lawful requests, and legal process, such as to respond to subpoenas or requests from government authorities
Any personal information we collect from you to verify your identity in connection with your request will be used solely for the purposes of verification.
We may use information about you, your activity, content, media uploads and related data in your account to prevent, detect, investigate and address safety, security, fraud and abuse risks, and to develop our algorithms and models to identify violations...
"Wealthfront may also use aggregated Outside Account Information from our Users and Clients for purposes of deciding which products and services to offer in the future.Excerpt from Wealthfront's Privacy Policy
We read the privacy policies and terms of service of 38 AI platforms. Here is what they say about training, retention, arbitration, and liability.
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The clause states: “Wealthfront may also use aggregated Outside Account Information from our Users and Clients for purposes of deciding which products and services to offer in the future.”
ConductAtlas has identified this type of provision across 273 platforms. See the full comparison.
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