NGPF Podcast: Tim Talks To Wealthfront Co-Founder and CEO, Andy Rachleff
Thanks to Andy Rachleff for this great conversation on the NGPF podcast recently. To say Andy has had an amazing career is an understatement. To name just a few of his roles: Founder of a premier venture capital firm (Benchmark), successful venture capitalist, sought after entrepreneurship instructor (Stanford Graduate School of Business) and currently a co-founder and CEO of a financial services disrupter (Wealthfront). Andy shares the insights he has gained over his illustrious career as well as the reasons he is so passionate about Wealthfront’s mission to democratize investing. Listen to this podcast to not only learn more about what makes a successful start-up but also the origin story behind Wealthfront and how automated investing is disrupting the investment management business. Enjoy!
- 0:00~1:51 – Introduction
- 1:51~3:55 – Andy’s early money lessons
- 3:55~5:06 – Founding Benchmark, a venture capital firm
- 5:06~7:13 – How Benchmark differentiated itself from other venture capitalists
- 7:13~11:16 – What he looked for in growth investments
- 11:16~14:41 -What next after venture capital?
- 14:41~18:44 – The Wealthfront origin story
- 18:44~26:35 – Wealthfront’s investment strategies
- 26:35~32:04 – What exactly is automated investing (a.k.a. robo-advising)?
- 32:04~37:01 – How does a customer use Wealthfront? What’s the process?
- 37:01~37:19 – A word from our sponsor, Next Gen Personal Finance
- 37:19~44:20 – How do millennials invest?
- 44:20~53:14 – Wealthfront’s competitors
- 53:14~53:29 – Best thing Andy bought for under $10
- 53:29~55:36 – Biggest financial mistakes
- 55:36~56:27 – Financial tip for high school students
- 56:27~ 58:19- How he would teach investing
- 58:19~58:54 – Conclusion
- Website: Wealthfront
- Book: A Random Walk Down Wall Street
- NGPF Interactive using Wealthfront Risk Assessment Tool
- “People who have high batting averages but only hit singles don’t make good venture capitalists.”
- “Investing is counter-intuitive. Everything you want to do in investing, you shouldn’t do. Everything you don’t want to do, you should do.”
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.