After five years at the firm, Wealthfront's CFO, Ashley Fieglein Johnson, is turning over her responsibilities at the automated advice platform, or so-called robo advisor, according to regulatory filings and a company spokesperson. Johnson's responsibilities as CFO are now split between Alan Imberman, VP of finance, and Houman Fardin, VP of business development, according to Kate Wauck, Wealthfront spokesperson.
Meanwhile, Wealthfront Strategies LLC, the entity in charge of Wealthfront’s controversial Risk Parity Fund, has named David Fortunato as CEO, assuming Johnson's responsibilities within the division, according to regulatory filings. Fortunato was promoted from CTO to president of Wealthfront Inc. in July 2019 and is one of the firm's first employees. Johnson's title as chief financial officer of the division is being assumed by Imberman.
Wealthfront Inc. hired Johnson as CFO in 2015 and she was named as Wealthfront Risk Parity Fund portfolio manager last year. Today, however, the fund is managed by Dr. Alex Michalka, who was hired by Wealthfront in May 2019.
Additional changes at Wealthfront Strategies saw Luis De Oliveira named as COO of the division. De Oliveira joined Wealthfront from Itaú International Securities.
Meanwhile, Johnson’s responsibilities as CEO at Wealthfront Advisers LLC were assumed by Andy Rachleff, co-founder of the robo advisor. Wealthfront Advisers is the investment management and advisory services entity of Wealthfront. Julius Leiman-Carbia was named as the division’s new chief compliance officer, replacing Emily Asante.