The San Francisco 49ers Have Started Using A Robo-Advisor To Manage Their Money

san francisco 49ers

(Rob Carr / Getty Images)

Online investing company Wealthfront has just announced a new client: The San Francisco 49ers.

Writes president and CEO Adam Nash on the Wealthfront blog:

The San Francisco 49ers will cover the advisory fees on the first $100,000 each individual invests with Wealthfront. Wealthfront will also provide financial education for both current employees and alumni through its acclaimed seminars.

The post goes on to explain that when Wealthfront noticed a pattern of professional athletes signing up for their services, they started exploring these players' unique challenges.

Now, they have an entire football team on board.

"We strive to provide our employees with the best possible benefits," 49ers CFO Cipora Herman told Wealthfront, "and that includes resources dedicated to financial education and management.”

So-called robo-advisors like Wealthfront and Betterment, which manage clients' investments through passive investing based on algorithms, have been growing quickly in terms of the assets they manage.

Now, with the addition of the 49ers to the client list of one of the best-known players in the space, their profile might begin to grow as well.

More From Business Insider

• The investing advice Jack Bogle gave Tony Robbins for 20-somethings is useful for just about anyone
  

• US credit card debt has topped $1 trillion — here's the most effective way you can pay it off, according to the Harvard Business Review
  

• In the near future, we'll live to age 120 and need way more money — and it'll be easy, if you follow Warren Buffett's lead