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Robo-adviser Wealthfront files for IPO showing profit decline

The Palo Alto, California-based company had net income of $60.7m on revenue of $175.6m for the six months ended July 31, compared with net income of $132.3m on revenue of $145.9m a year earlier. The potential listing would follow those of fintech companies Klarna and Chime Financial that moved ahead with IPOs in recent months as the market recovered from disruption over the Trump Administration’s tariff policies.


 

UBS Group AG agreed in 2022 to acquire Wealthfront for $1.4 billion to broaden its high-net-worth customer base, but abandoned the deal later that year.