FinTech News
Wealthfront Adds Stock Collections For AI, Dividend Stocks, More
The FinTech platform Wealthfront is making it easier for customers to invest in artificial intelligence AI by rolling out new Stock Collections focused on the technology. Elsewhere, a dividend-focused collection has also been added.
About the new collections:
Wealthfront has announced the introduction of three new Stock Collections: AI Adopters, Generative AI, and Large-Cap High Dividend Payers. The first option is comprised of businesses that are already effectively embracing AI, including Broadcom (AVGO), Nvidia (NVDA), and others. As for the Generative AI collector, it features companies that are actually helping to develop the tech behind AI. Examples here include Alphabet (GOOGL), IBM (IBM), Microsoft (MSFT), and more.
Turning outside of AI, the other new collection is Large-Cap, High Dividend Payers. Wealthfront bills this new collection as “inflation protection” as the dividends that included companies pay top the 10-year Treasury yield. Some featured companies include Chevron (CVX), Pfizer (PFE), and Verizon (VZ), among others.
These new stock collections join other recent additions such as Internet of Things, Quantum Computing, and Virtual/Augmented Reality. In each of these cases (along with all of the collections offered by Wealthfront), the collections were developed by reviewing both industry data and internal analysis. Additionally, since one option may not be right for every investor, the platform lists pros and cons of each potential portfolio pick.
About Wealthfront:
Wealthfront is among the most well-known roboadvisors available. In addition to those services, the company has expanded into other financial services, including high-yield savings and individual stock investing. For the latter, customers can start with as little as $1 and enjoy zero commissions. With the Stock Investing Account, users can also purchase fractional shares of stock as well as invest in the aforementioned Stock Collections.
What they’re saying:
Announcing the latest Stock Collections, Wealthfront VP of Product Dave Myszewski said, “The recent market momentum and advancements in artificial intelligence have created a renewed interest in stocks, but investors are having a hard time navigating persistent inflation and recession predictions. They want to make smart, long-term investments and are hungry for research-driven guidance. This is the gap our stock collections fill and we’re excited to expand these insights to additional categories.”
My thoughts:
No matter how you feel about AI itself, there’s no doubt that it’s an exploding industry. Therefore, it makes perfect sense that investors would want to get in on the action — making it a perfect collection topic for Wealthfront. Meanwhile, for those more focused on beating inflation and earning passive income, the new Large-Cap High Dividend Payers may be a better option. Either way, offerings like these show why some investors may prefer FinTech brokerages such as Wealthfront to more traditional options.
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