What Is Wealthfront?

Wealthfront is an online financial advisory firm offering investing and financial planning serviceswith a heavy emphasis on asset allocation with low fees. They are considered a robo-advisor with automated investment management and providing holistic financial advice. The entire management program is based on the Modern Portfolio Theory (MPT)

Wealthfront was founded to “democratize access to sophisticated investment products.” By using software to make investing easier for new or experienced investors.

Wealthfront is Good For

If you’re a beginner investor or an experienced investor looking for: a hands-off approach, lower management fees for small accounts, taxable accounts, automatic rebalancing, and a 529 college savings plan. It is also best for investors who don’t need to speak with an expert. Have accounts with other firms over $100,000? Wealthfront may not be the best option for you as there are cheaper alternatives available.

Wealthfront Offers and Fees

With their automated investing services, you can have individual and joint non-retirement accounts, Roth, traditional, SEP, and rollover IRAs, trusts, and 529 Plans.

Account Minimum:$500

Management Fee: 0.25% annually but the first $10,000 is managed free.

Retirement Planning – Offers tailored advice on how much to save and invest in the right tax-advantaged accounts. Accounts: Traditional IRA, Roth IRA, SEP IRA, 401(k) Rollover

Grow your savings – Invest some of your savings into long-term investment accounts without the restrictions of retirement accounts. Accounts: Individual, Joint, Trust

Plan for home ownership – Get a budget that keeps you on track to afford your dream home factoring in home prices and other ownership expenses.

Pay for college – Start saving money for college today for your children. It starts with tax-advantaged 529 plans designed for college expenses to pay for tuition, room and board, and books.

What Differentiates Wealthfront?

A line of credit: Emergencies happen but using money in investment funds can impact long-term investing goals. With Wealthfront, customers with at least $100,000 in their account can borrow up to 30% of their portfolios’ value without an application or a credit check and fees. There are interest charges.

Investments: The investment methodology includes giving investors a questionnaire to identify risk tolerance and offering exchange-traded funds. Wealthfront’s process is automated with algorithms that rebalance when dividends are reinvested or money deposited. A typical portfolio includes about eight asset classes but real estate is not included in taxable accounts.

Financial planning: Wealthfront offers a Path tool on mobile and desktop that helps people plan for retirement, a home purchase, college for kids, and investment strategy for your savings goals.

How To Get Started With Wealthfront

It only takes a few minutes to sign up for Wealthfront. There are three steps to get started. Account minimum is $500.

  1. Complete the questionnaire so you can see what kind of portfolio is best for you.
  2. Review the investment plan page for the types of investments will be made for you.
  3. Open the account by choosing your funding option.

1 review for Wealthfront Investing and Financial Planning (Up to $10,000 Managed Free)

  1. Jason Vitug

    Wealthfront has a platform that I would compare most to Betterment. When you sign up, they will ask you a few questions to get a feel for your goals, your ability to reach those goals, and the risk level you’re willing to take in order to reach those goals.

    After answering the questions, you’ll review your investment recommendations and make your initial deposit of $500 or more. Once you’ve made your deposit, managing your account is pretty simple.

    In my review, I found Wealthfront shows great charts that give you an idea of how well you are performing. There are also neat tools to help you bear the lowest tax burden possible.

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