One of the mutual fund's newer critics is rebranding. VentureBeat
's Anthony Ha reports
that investing platform KaChing
renamed itself Wealthfront
while celebrating its one-year anniversary.
The venture-backed, Palo Alto, California-based firm wants to "democratize" asset management and frequently contrasts its approach with that of mutual funds. Instead of using mutual funds, Wealthfront gives investors access to institutional managers, with a minimum threshold of $10,000, to more than 25 institutional managers who normally ask for $500,000 or $1 million minimum. The firm now boasts over $100 million in assets.
Neil Anderson, Managing Editor
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