Broker-Dealer Attorney

Redwood City, CA
General + Administrative
Full-time

The mission of Wealthfront Inc., an SEC-registered investment adviser, and its wholly-owned broker-dealer subsidiary, Wealthfront Brokerage Corporation, is pretty simple: we believe that everyone deserves sophisticated financial advice. In just five short years, Wealthfront has rolled out the features and services that now define a new category that we call “automated investment advisory services.”  We are focused on taking services typically reserved for the ultra-wealthy, automating them and delivering them directly to  all investors at an incredibly low cost. We have clients in all 50 states who trust us with over $7 billion in assets and those assets are growing extremely rapidly. With our clients' trust, we believe we can and will change this industry.

Wealthfront is seeking a talented, passionate and experienced attorney to handle a wide variety of broker-dealer legal and regulatory matters.  As a member of our legal team, this person will work closely with and report to our General Counsel but just as importantly, will work closely with all our other departments, including the product, design, engineering, marketing and compliance teams, to provide the best client experience possible.

Responsibilities

    • Creatively configure compliant solutions and provide advice for sound business decisions in view of relevant legal and compliance requirements and risks
    • Analyze and provide guidance on evolving laws, rules, regulations, and trends impacting principally the broker-dealer and, to a lesser degree, investment management and financial advisory industries, including: (1) Securities Act of 1933, Securities Exchange Act of 1934, and related investment-related statutes and regulations (2) FINRA and MSRB rules and regulations (3) Investment Advisers Act of 1940 (4) Other federal and state financial services-related laws, rules and regulations
    • Advise with respect to legal and regulatory aspects of compliance matters for the broker-dealer
    • Assist with the development of new lines of business and financial advisory products by: (1) Embedding yourself in the project development team upon project launch (2) Working closely and proactively with other project team members to identify potential legal and regulatory issues (3) Crafting compliant solutions that avoid or minimize inefficient use of product and design and engineering resources and speed product launches and (4) Drafting related agreements, policies, procedures and disclosures
    • Manage interactions with the SEC, FINRA and other regulatory authorities
    • Interfacing with and managing outside counsel
    • Other duties as assigned by the General Counsel

Qualifications

    • J.D. degree from an outstanding law school and licensed to practice in California, or the ability to apply for California's in-house counsel exemption
    • Minimum 8 years of legal experience, with 2 years of experience in a national or international law firm, and with other experience in-house / start-up preferred
    • Very strong familiarity and experience with FINRA and MSRB rules required
    • Experience working with investment advisers very strongly preferred
    • FINRA Series 7, 24, 53 and 63 licenses or willingness to obtain within three months (at Wealthfront expense)
    • Ability to design creatively compliant solutions while not blocking progress by rotely minimizing risks
    • Ability to work in a fast-paced environment and strong collaborative skills
    • Ability to participate in developing company strategic and operational goals, and work closely with business units in their operational execution
    • Ability to provide hands-on counsel to all levels of executive and non-executive associates
    • Ability to identify and analyze legal issues, draft key documents, present clear recommendations, and assure legal compliance
    • Strong project management skills
    • Self-motivated and efficient, with good business judgment and “take ownership” outlook
    • Creative, with the confidence to present and advocate for the implementation of ideas

More About Wealthfront:

Wealthfront is the only automated advisor to offer both investment management and financial planning exclusively through software. Because of this approach, we've quickly become the automated advisor of choice among young people. Anyone can open a Wealthfront investment account with $500 to access a unique PassivePlus® investment strategy that includes a combination of a diversified portfolio of ETFs and tax minimization strategies. All clients receive financial planning through the service, Path, at no additional cost. Wealthfront does not charge management fees on the first $10,000 and for amounts above that the annual management fee is 0.25% - a fraction of what financial advisors charge. Wealthfront's strategy is to take high end financial services that are reserved for those who have millions of dollars and deliver them to young consumers through software. The majority of Wealthfront clients are in their 30s and 40s and have less than $1 million to invest. Wealthfront was founded by Andy Rachleff and Dan Carroll, who launched the service in December 2011. Wealthfront has raised over $129 million in funding from Benchmark Capital, DAG Ventures, Dragoneer Investment Group, Greylock Partners, Index Ventures, Ribbit Capital, Social + Capital and Spark Capital, and is based in Redwood City, CA. For more information please visit www.wealthfront.com.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

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PassivePlus® is a registered trademark and property of CSSC Investment Advisory Services, Inc. (“CSSC”) and is used under license. CSSC and Wealthfront are not affiliated companies.