Wealthfront attracts millennials with crypto tactics and a cat mascot

The brokerage firm Wealthfront focuses on the millennials with an instagram cat mascot and airdrops. Like others, Wealthfront is trying to raise more capital in the economic crisis while sending reassuring e-mails to remind clients not to panic.

Wealthfront: A cat mascot entices you to open an account

The company, based in Redwood City, California, has been attracting millennials to robo-investing since 2018 and is thriving. As in adolescence, millennials seem to want the computer to do everything for them.

Wealthfront has been trying to attract customers to its retirement plans and current accounts with a staggering 0.35% return for months. It turns out that to achieve this goal, they took the example of cryptocurrencies. And so the cat mascot and free money were born.

Cash Cat

Meet the new Wealthfront mascot, a cat named Cash Cat. She loves all the millennials. But this cat is an intellectual, and her link invites you to follow her to her library. Read the epic novel Infinite Jest and ask you to open a current account. She even took over Twitter from Wealthfront.

It also promises free money, aptly called drops. This whole marketing campaign seems to be inspired by cryptocurrencies. After all, Bitcoin is extremely popular among millennials.

The drops are very similar to airdrops. And maybe Wealthfront believes Cash Cat will succeed, much like Dogecoin. Cash Cat itself is also a bit condescending, but it’s probably another way to reach today’s youth:

“Yes, yes, I know what you’re thinking. Other financial institutions with another talking cat and another ‘Drops Program’ are handing out money to loyal clients, a classic.”

When most cats “drop” something, it’s not money. The company is doing well and growing with assets under management (AUM) every year since its establishment. Now they hope that Cash Cat will be a golden goose for the company.

Wealthfront encourages users not to check their balance. Research shows that this leads to better profits in the stock market in the long run. The pension savings of the future will probably be a “set and forget” model and could be powered by crypto memes and airdrops. It sounds crazy, but it could work.

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