Wealthfront Terms of Service

This document governs the Terms of Use for Wealthfront Advisers LLC's investment advisory website and mobile applications, effective November 1, 2024, establishing a legally binding agreement between Wealthfront (an SEC-registered investment adviser) and both Users (individuals evaluating the service) and Clients (individuals who sign the separate Client Agreement for portfolio management). The agreement states that Wealthfront's cumulative liability to any user is capped at $100 regardless of damages, that all warranties are expressly disclaimed on an AS IS basis, and that users automatically forfeit intellectual property rights in any unsolicited feedback submitted to the company. Notable provisions include the $100 aggregate liability cap, which is narrower than typical financial services agreements and applies even to investment-related losses for non-Client Users, and the feedback clause, which asserts that unsolicited ideas automatically become Wealthfront's property and that all moral rights are waived, a provision whose enforceability may vary by jurisdiction. The document engages SEC registration requirements applicable to registered investment advisers under the Investment Advisers Act of 1940, FINRA and SIPC membership disclosures for the brokerage entity, and California consumer protection frameworks given the exclusive California choice-of-law and venue clause; compliance teams should evaluate whether the $100 liability cap and disclaimer of warranties are consistent with fiduciary obligations applicable to SEC-registered advisers, and whether the California venue clause creates barriers to dispute access for non-California users.