Online investing company Wealthfront has just announced a new client: The San Francisco 49ers.
Writes president and CEO Adam Nash on the Wealthfront blog:
The San Francisco 49ers will cover the advisory fees on the first $US100,000 each individual invests with Wealthfront. Wealthfront will also provide financial education for both current employees and alumni through its acclaimed seminars.
The post goes on to explain that when Wealthfront noticed a pattern of professional athletes signing up for their services, they started exploring these players’ unique challenges.
Now, they have an entire football team on board.
“We strive to provide our employees with the best possible benefits,” 49ers CFO Cipora Herman told Wealthfront, “and that includes resources dedicated to financial education and management.”
So-called robo-advisors like Wealthfront and Betterment, which manage clients’ investments through passive investing based on algorithms, have been growing quickly in terms of the assets they manage.