So far I’m very pleased. I’m disabled and have had two back surgeries as well as cancer and I’m not quite 50 as of yet. Luckily I had a long term disability insurance policy. I had to actually fight the insurance company to keep receiving my benefits after I’d found out I had cancer. I had to have a huge tumor removed from behind my liver in august 2018 and when I awoke my then wife informed me I had won the appeal. It was a blessing from god. The policy is until I’m 66. That’s basically 16 more years. Then from then on it will be social security only so my plan is to save and invest every penny I can obtain between now and then. I had to fight the insurance for my benefits at the exact same time I was fighting for my life and I beat both with the help of God and I’m grateful but it taught me to be better prepared and that is the reason for Wealthfront. My home was also flooded and I lost everything in 2019. Since then I purchased a nice large camper and now that my kids are grown and in college my plan is to continue living as cheaply as possible since I’m alone now and save every single cent I can obtain and invest with Wealthfront. So far I couldn’t be happier and would just like to thank Wealthfront so far and look forward to seeing how large it can grow in the upcoming years. Thanks so much.
I used to recommend Wealthfront to everyone who'd listen and several people who wouldn't, but no more. I thought it was the best financial institution to ever appear on the planet, and I think, for a while – and excepting their preposterous requirements for mobile check deposit – it was. Unfortunately, over the past month or so, several transactions I've tried to make were declined due to their obviously faulty security system that now flags perfectly ordinary transactions – including my monthly cell phone bill – as "suspicious". I wouldn't even mind this nearly so much if their response to every "suspicious" transaction was to immediately send me a text asking whether the transaction was valid, but they now do this on only the rarest of occasions, leaving me, 99% of the time, to call them on the phone, wait on hold for some period of time, and then talk with a representative for about 20 minutes in order for the representative to make a "one-time exception" to the overzealous security system's error so that I can complete the transaction in question and have my *next* purchase or payment declined instead. Due to this and the aforementioned unreasonable requirements for mobile check deposit, I'm moving my money out of Wealthfront and likely closing my accounts. And I've told everyone I recommended them to that I no longer recommend Wealthfront at all. It's a crying shame, but everything changes, and, alas, Wealthfront has proven no exception.
This is my first time investing with a plan and not randomly buying a stock and selling it two weeks later. Wealthfront has been perfect for me. It helps beginners like me set goals and gain a lot of starting knowledge on what I need to be doing in the world of investing without worry of losing a lot of money. Robo-advisors (especially like wealthfront) are a great place to learn new skills to help you grow your portfolio in the beginning for a very small fee and a very small initial investment. For anyone that’s already knowledgeable about investing then this may not be the place for you. It’s hard to get into depth or immediately make changes to your portfolio. You can choose where you would like your money to go but it will take days or weeks for wealthfront to move your money in a “smart” manner. But overall I’m so glad I started here. I feel confident I can learn and make my investment grow. I know that if I stick with it, there’s a chance that I’ll outgrow wealthfront and at if that point comes I can use my money elsewhere with the knowledge wealthfront has helped me gain. This app has made me realize that most people truly don’t have an excuse anymore for not getting into investing.
This app is very functional and easy to use. It gives users a quick way to assess their complete financial situation through the ability to link to all your external accounts with other financial institutions. It will also show a projection of your financial situation throughout your lifetime, if you desire. The app makes it very easy to add money to your Wealthfront accounts or transfer money out of Wealthfront to another institution. There are two distinct reasons I did not give the Wealthfront app five stars. First, the app does not give users the ability to change their risk tolerance score. Users must log on to Wealthfront’s actual website to do that, which is tremendously inconvenient. Second, although I like the financial future modeling the app provides, there is no available explanation of the modeling used to make such a long term forecast. Specifically, I would like to know the assumed annual rate of return in the model as well as whether it accounts for an assumed annual pay increase or an assumed increase in the value of your home. This would all be possible by adding a simple link that explains the specifics of the assumptions and methodology behind the model used to calculate important values like your predicted net worth at retirement age. I am sure this seems like a niche request, but some more financially and data savvy users would appreciate it.
Money Tracking and Cash Account (savings) Fantastic
I have been using this app for 6 months. I found it when I was looking for a high-interest savings account. Wealthfront's cash account isn't a savings account itself but it works with other established banks to offer 1.78% interest per year and is FDIC insured. I'm unsure about the exact amount insured but it's over $1 million dollars. On top of that, you can also connect your bank accounts, credit cards and other financial services to keep track of all your money in one place. I'm not aware if it offer categories for tracking spending but it does help you determine how many years it will take you to reach your retirement goals at your current savings rate. I am saving $600/mo and apparently I should be able to retire at 60yo. It helps you establish realistic expectations. If anything, it's shown me I need a better paying job since I'm saving as much as possible at this point. This app is my top money tracking app along with Credit Karma and Experian (for credit). I also use Robinhood, Webull and my credit card apps. I have used Mint but it feels like it isn't being supported by the developers any longer.
I’m relatively new to investing but Wealthfront is by far the easiest investing tool I’ve ever seen, and one that is perfect for someone in my new-to-investing position. My favorite feature is the Path tool, which gives me the confidence I need to spend my money while saving away more than enough to live the retirement of my dreams. I’m excited to see how Wealthfront continues to grow and flourish, since just in the short time I’ve been using it, it has added a number of incredible features (notably, their new Wealthfront Cash account). UPDATE: It has been several years since I left this review and Wealthfront has remained a five-star app and service. Since reviewing, I’ve transitioned my entire financial life over to Wealthfront (with the exception of my employer-sponsored 401(k)). Wealthfront’s checking and cash management features are industry-leading, and now that they allow you to tweak your investment portfolios to suit your style, their investment suite is too. I look forward to continuing to grow my finances with Wealthfront.
I’ve had Wealthfront for about 4 years now and have used it to start short term investing. In the time I’ve had it I’ve been able to fund trips out of the country, track my retirement accounts that I’ve linked and fund my wedding, which came directly from investing in a brokerage account with them. I continue to use it so that I can fund my next adventures. Love the interface, tracking goals and the articles (though very general), on investing strategies. Only con is their new checking account, which is high interest and let’s you set up a debit card, needs a direct deposit set up before you can access some of the other features like depositing checks. I’m not interested in using Wealthfront as my main bank and would never have my employment checks direct deposited here so Ill never be able to use the full features. Would also love some additional info on their risk scores and how that determines the portfolios they build for you. But that’s really the only con and I have recommended to friends since you don’t need a lot of money to open an account. Good app.
Been using Wealthfront for over a year at least. I started with an investment acct here but ended up also getting a cash acct. Love how easy it is to change my investment portfolio. Cash acct has been great no problems with it(i switched from Chase checking). My cash acct actually has a higher APY % rate than my Ally high yield savings acct so i’m closing my Ally acct later this month lol. I link how u can link ur external accts so u can see them all in one place. Got a chase cc linked fine and my Ally acct. Still trying to figure out how to link my Apple card tho. Messaged support today and waiting for reply. The graph thing isn’t much use to me(fixed low income with little savings and investments). Would love to see them build up the features for the cash acct more. Like have more visual way to view a transactions summary. Also i’m Deaf. Being able to message support is good instead of having to try phone call. Would b even better if they had a live text chat option. That would b lit.
I first heard about Wealthfront from reading a blog in nerdwallet. The low fee, diversification, and passive investment style really resonated with me. I started small and after almost a year I believe I was up $1k. Not to mention the tax loss harvesting that reduced my taxes. The only thing I would advice against is using the robo advisor for position trading. I tried it and ended up losing on even more gains and lower capital tax. The robo advisor portfolio is more of a set it and forget it. I believe they now offer individual accounts too where you gave more control on what to invest when you are ready. Also, they have a cash account that earns interest (really low right now) and you can easily transfer funds from there to the investments account. I highly recommend if you want a simple approach that takes the guessing out of it. No you won’t get rich quick by using this method but over the long run there is a good chance!
I wish I could find my original review, because it was pretty scathing. While Wealthfront continues to be great for investing and managing money, one of the biggest reasons I also signed on was the ability to input information and manage my assets and liabilities. Right now, in that area, Wealthfront is letting me down. Out of the 11 or so accounts I currently have linked to Wealthfront, six of them are temporarily down, and the one that links to my financial institution has been down for almost a year. I have contacted their customer service by email, and they’re great - don’t get me wrong - but they have been unable to provide me a time frame. The fact that my account has been down for more than 50% of my time with Wealthfront shows my frustration here. To those seeking a simple way to invest and manage money, I HIGHLY encourage and recommend you to give Wealthfront a try. To Wealthfront, I implore you to put more effort into fixing these account links. If six of mine are down, statistically, I can imagine there are more that I do not know about.
What a gift of service this app is! It connects all previous accounts. While I have invested in vanguard for retirement for a while, when I went to invest in other stuff - felt like I needed a PhD to discern and didn’t know where to start. I didn’t want to talk to anyone bc I felt behind the curve and just wanted to start. I’m so thankful to Wealthfront’s system. My sister recommended due to their reverse engineering big picture map planning. I’ve tried Albert previously as well. It’s the Birdseye view and timeline projections that set this app apart by leaps and bounds. I wish I had known of it earlier bc it almost gamifies the saving process. Before, I felt indundated and behind. Now I feel more on track. If I had started earlier, I would have realized housing was more on track than I thought and been able to purchase even in the crazy housing market!
EDIT: Downgrading from two to one stars. Some features are fixed, such as check depositing, but numerous broken pieces in Path still exist. The most recent one: when you click ‘Show me where to save my money’ where it is supposed to show you where to divide your monthly saving, it doesn’t. Literally just a page listing your average saving rates. But unfortunately average saving rates are still broken too. Sent a request in to fix this almost two years ago and they haven’t even addressed this issue. Deposited over $10,000 in my IRA over the past 12 months (2021 and 2022 tax years) and it says my 12 month savings rate for the account is $0. On the border of switching robo-advisors END EDIT/ Using it for more than two years. Started out great, but features keep breaking (such as savings rates and depositing checks), and they haven’t fixed them, even ones that have been broken for more than a year at this point. I put in a ticket for savings rates months ago and still haven’t heard anything back or when they plan on fixing this. Please stop updating the UI until core features actually work
I have tried several other financial apps. Some are good, some I deleted within a few days. This one from Wealthfront has been by far the best one out of the bunch for me. The app has performed without glitches or hangups. It is very helpful to be able to link all my other banking institutions plus house info plus manually input assets to have on one page where it displays your net worth plus cash on hand. The transfers have gone well, some of the larger ones have been put on a “security hold” and took seven days to be available however the interest does start accruing right away. I like how the app shows current interest earned and projected balances. Plus I am notified the same day the Feds hike interest rates letting me know Wealthfront is increasing theirs as well in a few days. I have only had this app and account for about six weeks but so far I am very impressed and look forward to continued use.
I have absolutely no background in investing of any sort. All I knew is that in order to be successful in investing is that I could not put all my eggs in one basket. So I tried a few different investing apps for tips and tricks but nothing really worked. One day I was listening to the Tim Ferriss show and Tim mentioned it as one of his sponsors. I decided to take a look and give it a shot. I made my first investment on December 7th and am already up over 2% ROI. Not too shabby for almost a 3 week period. Wealthfront handles all the investing, diversification, reinvestment of your dividends and all other complicated investing strategies for you in order to maximize your long term returns. Best app I've ever downloaded, gives me back the time of researching different stocks and bonds and piece of mind that it's AI backed algorithms will always maximize my return with the best possible strategy.
I let — and I love to let — the robots at Wealthfront completely manage my financial portfolio. Wealthfront has been my main bank since the addition of checking accounts, and its Autopilot feature is also highly useful (which automatically invests/moves money between internal categories/external accounts upon reaching predefined thresholds). There are certain, newer features that some people may gripe about (i.e., the ability to customize your investments yourself) but this, in my opinion, comes down to whether someone has the self-restraint to use, or not use, such features. For me, I see such features as a boon despite not using them because the more the merrier. My favorite bit about Wealthfront, although this is a shared trait amongst the robo-advisors, is the peace of mind that such a platform can bring. More involved financial platforms require constant monitoring (i.e., stealing your attention) and can be quite destructive to those with addictive personalities. Wealthfront manages this by making it absolutely simple to “set and forget.” There’s no need to check the app everyday, there’s no need to whip out your phone at every alert. You know where your money is going and what your money is doing. This is truly tranquil stuff. I have only high praise for Wealthfront.
These days I’m hesitant with which apps I choose to share my income info. (As they say, if the product is free then you are the product. ) Yet, I chose to bank with wealthfront for their high yield savings account with an APY ranging from 1.8-2.5 %, which is great compared to my previous banks .03%. I then linked my other retirement accounts & downloaded the app to use their PATH feature, which helps me understand how my different income streams & retirement accounts influence when I can retire. I also have > 100k in student loans and like that these accounts can also be linked & every time that I pay more than the minimum loan amount it’s nice to see how this effects my net worth & when I can ultimately retire. Keeping track of my account balances with the wealthfront app allows me to immediately see the small impact of my decisions to spend v save income—or use money to pay down debt.
Phenomenal app for people trying to reach financial goals
I love this app so much. It makes it so easy to get to your financial goals and keep everything in one place. I love that it calculates how much money you have vs. how much money you owe. I also love the ability to have multiple goals that it automatically will put your money into. I recommend this app to all of my friends. The constantly higher APY than anywhere else AND it’s not a savings account so you aren’t penalized for taking money out. 10/10 recommend. It will also tell you if any of your money goals interfere with others which is really cool. Con: I will say I’m not completely sold on how accurate the “planned savings” calculations are, but I think it’s a good concept. Just needs some tweaking or further explanation on how they calculate it.
Failed identity verification - poor support. Can’t open account. Need bug fix.
I was very excited to open an individual cash account. After making an account on their website on a computer, I was directed to download their app and upload my ID to verify my identity. I was not given any other option to upload my ID via computer. I downloaded this app, logged in, and tried to upload my ID but it failed. The back of my ID was verified but the front ID wouldn’t upload properly. I tried 4 times. After contacting their support team, they replied that there was an issue with uploading identity verification documents that have impacted some users and to try again. Now, the app won’t even let me upload my ID anymore. When I reached out again, they said their partner bank couldn’t verify my identity and as a result, I can’t open an account. Very disappointing, discouraging, and frustrating. I was hopeful and excited to use Wealthfront but I can’t even get my account verified to use it. They need to fix this bug. Disappointing to say the least.
I’ve been using wealthfront for a few years now and I really love it. It’s very straightforward and has made retirement saving simple. I also love that I can link all my financial accounts and get a real time picture of my net worth. One minor suggestion I would make: I recently added a goal to buy a house in two year, which is considered a stretch because it doesn’t account for cash I’ve already saved and short term investments that can be liquidated to buy a house. Because of this it doesn’t automatically calculate the amount I need to save to put 20% down on a house in the area I want to live in. Again this is a minor annoyance and I love the app overall, but an option to apply current cash/short term investments towards a real estate investment would be incredible.
So I think online banking is the future so I tried to live only using Wealthfront’s cash account. The first you’ll notice is that it’s almost never recognized as an accredited bank by other systems. You’ll need to have your account number and checking number at the ready and confirm a small transaction almost every time. I decided to completely pull out when a landlord required a cashiers check for rent. Not only do they have no way to get you a cashiers check, their security rules do not allow cash transfers if the target bank is not in your name. They do not make exceptions even though I emailed and called them making sure that I was the one that initiated the transfer. Definitely made an already stressful situation even more stressful. If you’re going to use their cash account always make sure to have another cash account with an accredited institution that have physical locations. The world is definitely not ready for pure online banking and Wealthfront does not do much to support you when they do need you.
First, I’m a huge fan how simple wealthfront makes investing in stocks. This review is on the cash account only. I want to make a bigger purchase this weekend and was saving every penny for this - putting my savings on the cash account in anticipation that I can withdraw this cash easily when I want to make the purchase. I initiated the withdrawal on Monday morning and still don’t see any cash on my bank account (4 days later), even tho they tell you it takes 1-3 days for the cash to hit your account. They also freeze deposits you make for 5 business days until you can withdraw them again for “security reasons”. I also have a cash account with American Express and made the transfer at the same time as wealthfront. My cash from then arrived one day later! This experience with welthfront cash is very frustrating, especially because I know that I have the money, it’s just frozen on their account! Worst case, I have to take out a loan to make the purchase because wealthfront failed to make a transaction on time! Thanks for this, wealthfront!
I love the interface of the Wealthfront app. Much better than Wealthsimple! New features are added regularly. I like how the tax loss harvesting ends up paying for the advisory fees most years (and then some) and all my investments are held in tax efficient index funds. I think all people interested in Financial Independence should try out a roboadvisor like Wealthfront. I enjoy hands on investing with Vanguard but Wealthfront gives you a diversified portfolio with almost no effort or distraction. I have better things to worry about than rebalancing my portfolio and Wealthfront offers more flexibility than a target date fund. Too good to resist investing with them. I know enough about my finances to not pay a financial advisor regularly so I appreciate not paying for features I don’t use. Most simple and hands off tool to increase net worth over time!
Forget financial planners and traditional banks. This is how future generations will want to do business. By cutting out the physical locations and Human Resources, this company is able to offer the best options for savings possible. Fees are extremely low and I’ve watched my money grow over 3 years in this app. At tax season you can just upload your form into TurboTax making taxes super easy to do. Wealthfront also has features to save you lots of money on taxes. I withdrew 70k at one point and it was quick and easy. I had a question and I was able to contact customer service on the phone and get a quick smart response. Not an operator from who knows where reading a script. The humans are there if you need them (and they’re super smart!) but mostly this thing is run by robots. And I think that’s a good thing.
I opened this account 2 days after my payday. I went ahead and gave my employer the info to set up direct deposit, thinking SURELY I’d get my debit card before I got paid again. BIG MISTAKE. After TWO WEEKS still with no debit card, I had a paycheck deposited and no way to use my money!! It took them forever to get the card to me which (DING DING DING!!) gives me access to all my money!!!!! I might need that sooner than 2 WEEKS after I open my account!!! UPDATE: The main screen you see when you open the app has all this stuff that I don’t want to see and that you apparently can’t remove and/or customize. I don’t care anything about my “net worth”. I ONLY want to see the AVAILABLE BALANCE on my account. That’s it!!! I don’t need a fancy chart that I don’t even know what it means, I don’t need all these investment suggestions; I just want to see my balance. I wish I had used the app for a little while before I changed my direct deposit information.
At 21 years old, it’s so exciting seeing my potential net worth just by managing my money in different interest-bearing accounts and being an avid saver. The main benefit of course is the high-yield savings. Currently my net worth is projected to be $13 million when I retire; and this is with me only seriously saving for the past two months! 2021 I promised myself would be a year I take my money much more seriously. This app shows me all my accounts, even my debts, and tells me my current and projected net worth. I also just opened a checking account with Wealthfront and the card is so cute and unique. The design and layout of the app is very easy to follow. You can tell developers put a lot of work into it. It honestly has the cleanest layout of any banking platform I’ve used thus far. No complaints!!
I love this app. Intuitive and informative. Looking at my investments now and then is a nice little bump of pleasure. Well as long as the market is doing well. It also lets me review my retirement plan and tweak the scenarios. Being able to link all of my accounts in one place is great. A few minor quibbles, like it says my retirement is in good shape but also has a suggested savings rate and I’m not sure if it in good shape without saving as much as they recommend or IF I save as much as they recommend. Or maybe I already am? Also the links to the other banks don’t already update but that could be the problem of the other institutions. Maybe a feature to notify you when a link hasn’t connected after a given window of time. I’m older and don’t take for granted that I’ve been able to save some money but this app is still great - or better really - for younger people to start investing early and take advantage of the magic of compound interest! Wish I had started earlier but at least I’ve had a 401k for the past few decades. Get the app. Start investing what you can afford. It’s one of the best gifts your present self can give to your future self. (And keep fairly healthy habits) :)
I like the app overall but the constant need to renter credentials, across possibly tens to hundreds of accounts or services, makes this app pretty unusable for me. Sure if you have a 401k and a bank account it’s easy. But I have to log in and relink everything about every time I log in. So much time is spent doing that, remembering the updated information across the services some which have changed for their own reasons like a reset etc… that it becomes an hour long issue to relink all this stuff in a mobile app. Not worth it for me, as now I can get 3% on other popular investing apps so it’s like… why? I was only using the dashboard for a convenient interest bearing account and overall snapshot, but if it’s just a dashboard snapshot now due to lower than industry-leading interest bearing, and I have to log in non stop… why use it?
The UI is incredibly intuitive and the product itself is amazing. I literally recommend it to ANYONE, best friends, strangers on the street, people waiting in line for the bathroom etc. Elevator pitch, it takes less than 10 minutes to sign up (start to finish) and they have one of the highest APYs in the game. Wanna see you 401k status next to your credit card balance? Done. Want to have a tracker tell you your net worth? Done (but sad for me personally cause it’s low). I feel like I grownup tracking all of my investments, credit cards, and savings in one place. I have both a Roth IRA with Wealthfront and a savings account and could not be happier. Thanks to the app dev peeps and the smarties who wrote the OG algo for the reinvesting bit. Not all heroes wear capes!
The one nice feature of this app is to have a place where all your accounts are linked. This allows you to see all your accounts on one platform, but there are many other apps that allow you to do this. Returns through Wealthfront are extremely poor. My investment strategy is set to the most aggressive option. Now I understand that you see large swings with an aggressive investment strategy, but I only ever see large changes when I’m losing money. Markets are doing well and I make extremely small returns. Markets are doing alright and I lose money. Markets are doing poorly and I lose more money. Add in the management fee and I lose more money. Stay away from this app if you’re looking to make money. I started this account to invest through something I didn’t have to monitor. I now see that I made a big mistake. After 2 years and a negative return, I think it’s time to take my money elsewhere. Could have made more money in a standard savings account than through Wealthfront.
No-brainer switch from Apple Savings. Impressed so far.
I wish I had moved all my savings from Apple’s HYSA way sooner. The current 5% is rarely beat, and if so only by a fraction of a percent. The real reason I stayed with Apple so long was because I liked the simplicity and usefulness of their UI. Wealthfront’s UI is definitely a reason I was willing to switch. I also like the way you can add all your sources of cash/income so you can see your net worth all in one place. I don’t invest with them, but it’s easy to plug in most brokerages to the app and it will update your total. The biggest complaint I have right now is that the graph that sits on top of EVERYTHING just isn’t useful. It attempts to show you the trajectory of your retirement, but really it’s just an interactive ad designed to funnel you into their automated investing services. I’d much rather have a simple graph showing history of my net worth, or maybe just the HYSA cash account like Apple has. Devs, I’d love to have options up there! Let us pick what data we want to see represented up top. For most people, year to year income is just too unpredictable to plug in and accurately represent in that graph. It means almost nothing to the average user.
I wish the app kept my accounts more up to date more often. This hasn’t usually been a problem but lately I’ve had to re link my accounts on a weekly basis it seems.. which is annoying. It’s also annoying that i can only create one cash account on Wealthfront. At my bank i can create at least 10 separate accounts to hold cash and it keeps my money organized. Not sure why Wealthfront has this seemingly arbitrary limit. Other than that though this is my absolute goto for 1) seeing my personal net worth at a birds eye view and 2) managing my long term investment accounts It’s essentially awesome to help me not forget the random accounts that i don’t check often but do have money in (ie my work 401k). Overall, would recommend.
I work with a CFP, I manage a stock and ETF account with scottrade, and have been using wealthfront for 18 months now. This is by far the easiest and now most lucrative of the 3, and I have yet to crest over $500 in fees. And once I do, they have about $5k in harvested losses that my cfp nor myself would have done because well, we have day jobs. So whatever fees end up going to wealthfront, which are minuscule, will easily be covered by their automated loss harvesting. The app is dirt easy, you can link other accounts and real estate holdings, etc. I can't recommend this enough to anyone, regardless of understanding of investing or retirement planning. These guys hit all the bases and their fees finance themselves with the tax loss harvesting. I.E. this is cheaper than free!
I use this account as a “set it and forget it” portfolio and bi-weekly contributions. I do manage my own funds outside of this platform but truly enjoy the ease of having wealthfront manage these assets. I use it as an example with others hesitant to invest as a simple way to start without having to be a stock picker. The new functionality of choosing additional etfs based on certain market segments is very much welcomed. I’ve recommended this platform to all my friends and family. Lastly, the management fee is very reasonable relative to the market place. Highly recommend this to investors of all levels, but especially to those that don’t know where to start.
Great high yield, don’t make emergency savings account
Have loved wealthfront and always recommend the amazing high yield savings account rate. However, whenever you may need access to your money immediately, you will be disappointed. Without a branch you must use its account # etc, which actually doesn’t exist at all if you have a joint cash account. No account number, hard to link with plaid, no debit card/atm transactions. Transferring to linked account took two days and there is no customer service during the weekends to help. Very poor experience in that regard. I don’t believe a joint cash account should even be an option if it makes it impossible to get withdraw your money. Definitely the best rate and user friendly system. Get only a personal cash account and make sure to have checking options!
App itself is okay, looking forward to seeing the APY take effect. Last month it wasn’t as much as I expected - the interest I received was lower than what I’ve gotten from my previous bank, even though the deposit was higher. Strange, maybe because my account is fairly new. The only thing I’m frustrated with is how hard it is to link to an external account, even after multiple attempts, even after the connection appeared to be successfully established, the next day something’s always wrong. I have tried with 2 different bank accounts and followed the instructions perfectly. And I didn’t have this transferring/linking problem with my previous account (with Credit Karma. Honestly if this doesn’t get resolved I may switch back.)
I started using Wealthfront because of Tim Ferriss. It has been the best financial decision I have made for my future so far. I'm a college student so my funds are rather small and was previously investing on Acorns. I got up to a couple of grand on there and realized my returns were terrible! Only around 4% per year!!! I knew I need to change and that's when Wealthfront came in. No fees under like 10-15k has and an easy simple set up process. Needless to say I sent my money over immediately. Just over the last 9 months (not even a full year) I've had a 12.5% return! No joke a whole 8% better return in less time. Wealthfront is the best set it and forget it investing service out there.
In the name of security they only cause annoyance and nuisance. External account has been added via Plaid integration. Even after that, they are asking to call them for each transfer. The external bank is top bank in the USA and it’s my own account added via Plaid. If you don’t trust Plaid then support only the traditional manual verification. I have never seen any bank causes this kind of nuisance by asking to talk to them for each transfer. When you asked to verify the very first time for that account, I passed it as a feedback to your customer support. But I don’t think you guys have any respect for customers and don’t listen to them. Just process the transfer and I will take all my money out and close the account. Crazy business practice and causing huge inconvenience for the very basic banking needs. Apple, if you remove this feedback here, I will again post it.
It has potential and I’ll keep using it as a savings account, but not for retirement planning. I was playing around with the goals and added one that was a “let’s just see what happens”. Unfortunately there is no way to delete the goal so it’s just there forever now. Then I was adding a Vanguard account and if you have a Vanguard account you know there are like 12 different types of Vanguard accounts you can have. Well I chose the wrong one the first time so obviously my log in didn’t work. Now there is an alert at the top of my screen that has been there for 3 months telling me that I need to finish setting up my account. Except I can’t because I don’t have that type of account. There is no way to cancel the set up.
I just adore Wealthfront, of course for it’s robo-advisor investment account and a number of other fun features like being able to shake to obscure your balances so you can show friends some of the app functionality, ability to link other external accounts to get a holistic view of your portfolio holdings, the graph that shows what you've put in to your investment account vs. how much it has grown, and of course the projection of your finances by retirement age. I also appreciate how they support multiple types of accounts like IRAs so when you leave a job you can rollover your 401K to consolidate everything in one place.
It’s a really great app that gives a very extensive look into your financials. I am able to link so many of my accounts like 401k, stock portfolios, etc. It really motivates me to invest more. There is a bit of a risk using Wealthfront cash account since it’s not really a bank but other features are great! Unfortunately the interest has gone down quite a bit from when I started using Wealthfront cash accounts. I’ve seen other savings accounts with higher interest. The spending analysis tool is a bit difficult to use. It could use some work. Overall it’s a great company that manages billions and using that expertise to make investing more available to everyone!
This app is very user friendly and intuitive. Significant improvements have been made over the years and I truly think it’s been very well built and provides features that are easy for anyone to use to help you manage your money. Wealthfront’s products are great for anybody looking to get into investing in the markets in a passive way and their learning documents are very helpful. Overall there is still work to be done on improving the accuracy of the projections and suggested savings features but it gives you a fairly good picture of your overall financial situation on any given day. Definitely recommend everyone to give Wealthfront a try.
Wealthfront has been a great and useful app and overall I have enjoyed my experience. With that said it can have some improvements. For one the option to have only individual stocks would be amazing. I don’t see why it has to be locked behind $100k invested before you can get access. It would be nice to see a round up feature or a cash back credit card to be added. The autopilot feature is looking very promising but it would be nice to have an option to use percentages of my income rather than a set amount like $500 a month. Other than those small things I believe this is a great app with plenty potential to grow.
Right now I am using the app as a second hand savings account for the moment since the APY of my regular savings account is stipend. But I love this app so far. I also love the feature is shows for your retirement money and the part when I shake my phone I can see how much money I have overall if i need to transfer that amount when I go on a trip to another country. Rn I connected all of my other brokerages and bank accounts to it and so fourth. This app does have a lot of potential to me and it seems like they are creating amazing things that I’ll be able to enjoy. There are other processes that can take if they want to be a bank like credit cards and percentage cash back base on a persons spending habits. I’ll be doing updates to this post while I try the other features later on to see if I can make passive income from the stock portfolio of the app. I do know they charge a fee for that platform but it seems interesting. Love the work you guys are doing at Wealthfront so far. Hope you guys can evolve this beautiful product even further. Sincerely, Dalius Beck
After reading about online robo-advisors and weighing the pros and cons of each I decided to open an account with Wealthfront. My primary motivator was the fact that the first $10,000 (in my case $15,000) is managed free. If you read online robi-advisor reviews you can find affiliate sign-up links that offer an additional $5k managed free. It was easy to set-up an account. It took about 3 business days for my money to be transferred into my account. The app is user-friendly and easy to understand. I am still learning about tax-loss harvesting and I like that they send out beginner emails explaining terms and investment strategy. I’ve had my account for about a month. So far, so good.
Came to Wealthfront after researching the options a few years ago and I review them versus the competition regularly to make sure they remain the best choice. Still quite satisfied. Sure, I could save on some fees by building and revising my portfolio manually, but I never feel I do that consistently enough to outperform this robo-advisor. In sum, if you’re not going to build and MAINTAIN your portfolio regularly (be honest with yourself), that really is okay. Especially when you can use Wealthfront for a competitive price. One caveat, I’m not sold on the Risk Parity fund. I stick with their regular recommended portfolio for my risk tolerance with tax-loss harvesting.
I barely do Reviews, in fact this might be my first or second . That's how great of a resource and an app Wealthfront is, as a student I've always heard how it's advised that people get into investing and WealthFront makes that a reality with its very insightful and straightforward interface , along with it great investing strategies according to your risk. I'm a huge fan of the dividend reinvestment a and tax loss harvesting, along with the path feature that shows you how far along you are to fulfilling a financial goal of yours. I'm also a fan of the articles they lost frequently, which pose an unbiased Jew at various financial situation and how they affect you. Looking forward to the great features that are yet to come.
If you are earning a typical lousy rate on your standard savings account, then I highly recommend you move some to Wealthfront. The app is very easy to use and understand. Sometimes I think it's a bit too simple and I would like more functionality but my primary goal of earning much more interest on my cash is accomplished. Another cool feature is that you can link your 401k account to get real time predictions of your retirement. The only criticism I have is that I would like to see more stats and graphs with the ability to set a specific target on an account and see progress on reaching that target. Overall... great job by Wealthfront
Before I found Wealthfront, my savings were siting in my local bank’s 0.1% APY savings account and I was losing money. I’m 19 and was looking for the right way to start planning for financial independence after I graduate from college. Now, I have $3,500 in a Cash Account that will earn around $12 this year without me touching it, as opposed to the ~$4 I would earn at my old bank. I have $1,450 in an Investment Account on which my principal is $1,350. It’s so exciting to me to see my money grow and know that I’m now planning for my financial independence and stability. Seeing those results motivates me to save more of my pay checks and to not touch my money once it’s invested. I’m so glad I switched.
I’ve been using Wealthfront for over 5 years now. Occasionally someone may argue that they are getting a marginally better rate on their high-yield savings account, but usually the rates can’t be beat. The software running the web and mobile app is wonderful. I’ve never experienced a bug or issue. I have requested, and hope it is still coming, the ability to transfer from Wealthfront account to Wealthfront account. I don’t understand why this poses a technical challenge, but sometimes a bit of a nuisance to transfer to an intermediary bank only to transfer back into Wealthfront.
I tried this app out on behalf of a friend. I liked the fact that you could see your 401k investments, as well as your stock investments in one place. Didn't add my bank accounts because I don't want to give all access to my personal accounts. I established a sizable account of free funds into this app to invest. What I dislike about this is that you cannot control your investments. You rate yourself on your possible risks on a scale of 1-10, and the app does the rest. There were multiple times that I wanted to diversify my investments, but you have no control over that. You have to change your risk score for that to happen. It's extremely limited as far as controlling your stocks. This is an app for those that are looking for a long-term gain. If you wanna play the market and try to make money, this app is not for you.