Yay or nay?

Discover what the internet is saying about Wealthfront.

Upgraded Reviews scanned the web to find out what real users are saying about Wealthfront.

See the highlights below and decide for yourself!

Pros and Cons

Table of contents

✅ Pros

The first $5,000 is managed for free if you score a referral.
Review Pros
You can take advantage of Direct Indexing for increased tax efficiency if you have an account size over $100,000.
It has proven, tax efficient investing.
The Wealthfront fee structure is very straightforward.
You can request cash up to 30% of the current value of your Wealthfront account and they you’ll receive it as quickly as 1 business day.
You can schedule weekly, biweekly, monthly or quarterly deposits into your Wealthfront account.
The ability to maximize your tax savings can save you thousands of dollars come tax time, and it’s automated so you don’t have to give it a second thought.
Wealthfront has approximately $9.5 billion in assets under management, which is a far greater amount than many of the other robo advisors out there.
Automatic re-allocation is offered.
The best part is that you can easily get the cash you need in just one business day.
Wealthfront has done an excellent job of attracting new clients by offering a 0% management fee for customers with less than $5,000 in their accounts.
Wealthfront is one of the lowest-cost online advice solutions.
Wealthfront allows you to get started with just $500 and charges no fees if you drop below that amount.
It has powerful software that is useful to investors of all levels.
Wealthfront charges no advisory fee on amounts below $10,000.
Wealthfront is one of the few robo-advisors to provide the same desktop experience on an app.
Wealthfront is a prime example of a fully-automated investing service that provides an almost completely hands-off wealth management experience.
Wealthfront is best for people who are interested in long-term investing and it offers a number of account types.
Tax-Loss Harvesting program is a nice advantage for taxable accounts.
Low $500 account minimum is offered.
Wealthfront relies on investing software, which the company says is more effective than human wealth managers.
All of the management of the portfolio created, including rebalancing, reinvestment and tax loss harvesting is entirely handled by the Robo Advisor.
Relatively small fees are charged.
Investors with over $100,000 get the benefits of direct indexing and investors with over $500,000 also get access to advanced indexing, Wealthfront’s version of smart beta.
Wealthfront’s Path tool also lets parents pick the college they want their child to go to, then projects college costs, estimates financial aid, and develops a monthly savings plan.
Wealthfront’s annual fee of 0.25% for all accounts is very competitive.
It provides free potfolio review tool.
Time-tested and academically proven investment strategies are offered.
Wealthfront offers an intuitive way to find out if your current portfolio is performing effectively through Portfolio Review.
Clients who recommend Wealthfront to other people get lower advisory fees.
It is free for accounts under $5,000.
Wealthfront’s minimum account requirement is just $500.
Wealthfront’s Path tool will analyze your financial data and assemble a custom plan to grow your money.
Minimum balance is $500.
Wealthfront manages your investments for you — there’s no input required from you.
529 Plan option makes Wealthfront somewhat unique in that most robo advisors focus only on retirement planning.
It is good for influencers who can get their family and friends to sign up, too.
Tax loss harvesting is for everyone.
Its flat-rate fee of 0.25% is hard to beat.
Path is thorough in scope and easy to use.
It is free or low cost which makes it best.
Wealthfront’s $500 minimum deposit is very low.
It offers tax-loss harvesting options for most accounts.
Everything below $15,000 is managed for free.
It offers financial planning and results tracking.
Either via a SMS text message or an app installed on your phone, you can be assured that your account is protected from hackers gaining entry.
Wealthfront has the best traction and reputation in this growing industry.
Wealthfront never holds your portfolio when you invest with them, they just manage it.
Wealthfront’s Path tool (for mobile and desktop) helps people plan for buying a house, retirement, college and general savings goals.
Wealthfront customers who have at least $100,000 in their account can borrow up to 30% of the value of their portfolio.
For every customer you successfully refer to Wealthfront, the robo advisor will manage an additional $5,000 of your money for free.
Wealthfront offers daily tax-loss harvesting on all taxable accounts.
The Path Financial tool helps you determine if you are on track for your investment goals, whether for retirement, college, or something else.
Wealthfront charges an annual advisory fee of just 0.25%.
529 plans are supported.
It has advanced features for accounts above $100,000.
Goals and risk tolerance based strategies are offered.
Wealthfront is a great, low-cost option for online investing services.
The Path planning tools consider all of your accounts, even those held outside Wealthfront, to give you a complete picture of your goals.
With a tailored program based on when your child will enter college and even being able to name a specific college at any point, you can maximize your tax savings while saving for your child’s education.
It offers direct indexing for accounts over $100,000.
There is no maintenance fees for the first $10,000.
Extremely low fees are charged even after reaching $10,000 threshold.

❌ Cons

It is more expensive than purchasing ETFs yourself.
Fees are higher than DIY.
No partial shares are allowed.
If you want to trade stocks and options, or think you can beat the market, then Wealthfront isn’t for you.
Wealthfront does not work with existing brokerage accounts.
Accounts are likely to experience a small level of cash drag.
If you have a larger amount to invest, Wealthfront doesn’t give you a break on cost.
Wealthfront doesn’t buy fractional shares of exchange traded funds, which prevents the company from investing your entire deposit.
It doesn’t invest entire deposit.
The company still has plenty of competition in the broader market.
There are no human advisors who you can discuss your investments with.
Wealthfront calculates the fees you’ll probably owe for the next year. Then it’ll keep a cash balance in your account equal to that figure.
It is not exactly high-design and is more like medium-design.
It isn’t possible to buy fractional shares of ETFs through Wealthfront. Because ETFs generally cost between $30 and $100, Wealthfront won’t be able to invest all of your funds.
DIY investing is cheaper.
Wealthfront charges a flat 0.25% annual advisory fee.
Wealthfront’s $500 minimum deposit is on the high side compared to what other robo-advisors require.
As a beginning investor, it can be difficult not having a human to talk to regarding your investments.
Its biggest selling point doesn’t come into play until you reach $100,000, at which point the robo advisor offers direct indexing.
There are no discounts for large balances.
The percentage held in cash isn’t nearly as high as Schwab’s allocation, which is a minimum of 6%.
Wealthfront requires a minimum account balance of $500.
It’s possible to have cash sitting in your account, not invested.

Final Say

Read the summaries of what reviewers think about Wealthfront below.

Review Summaries
Since its inception in 2008, Wealthfront has grown to be the second largest robo advisor in the world. As long as you meet the low account minimum of $500, you can select from a plethora of outstanding wealth management features.
Wealthfront may be worthwhile for those new to investing or for passive investors who aren’t seeking much customization in their portfolio. You do have the power to adjust your risk tolerance, but you can’t make direct changes. If you have over $100,000 to invest, you may want to weigh the pros of the Direct Indexing feature against the advisory fee savings you may be able to obtain using another robo-adviser that has a tiered pricing system.
Wealthfront is one of the lowest-cost online advice solutions, and giving it a try comes with little commitment thanks to the company’s offer to manage $5,000 free of charge for NerdWallet users. The stock level tax-loss harvesting service also makes it worth a look for high-balance taxable accounts, and their digital financial planning tools are useful and easy to use.
Wealthfront appears to be an excellent investment service. It shines with taxable accounts. If you’re a beginning investor who’s leery of jumping into individual security selection and management, Wealthfront would be an excellent choice.
Look into Wealthfront if you want someone to manage your money for you. It’s a company built on passive investing, a strategy with lots of fans. The company says it produces better results than human-powered returns. Crucially, the cost savings produced by a robo-advisor model means you’ll pay a low annual advisory fee.
Wealthfront is just one of the many robo advisors on the market, and each has its own strengths and weaknesses.
Wealthfront is clearly at the top of its class with its offering. Wealthfront has the best traction and reputation in this growing industry. If you want to trade stocks and options, or think you can beat the market, then Wealthfront isn’t for you.
Wealthfront is one of the largest and fastest-growing robo-advisors in the U.S. with more than $8 billion in assets under management. Like other robo-advisors, Wealthfront offers online financial services and advice without much human intervention. Its services are completely automated. There are no human financial advisors who you can talk with.
Wealthfront’s offerings, features and platforms are pretty admirable even without the huge benefit of their low fees, making it a very good choice for all kinds of investors. Whether you want to invest a little or a lot, you could do a lot worse than Wealthfront.
Wealthfront is a great option for first-time savers all the way up to serious investors with $100,000 or more. It is low cost and has diverse investment options, including 529s. Besides Path, one of Wealthfront’s best attributes is its tax programs, Tax-Loss Harvesting and Tax-Optimized Indexing. Investors with tax concerns should especially consider Wealthfront.
Wealthfront is a good option for both a beginning investor and an advanced investor looking for passive income. If you are looking for personal investment advice, though, you may want to look elsewhere. Wealthfront is best suited for the investor who can manage their account digitally.
Wealthfront is the only robo advisor who offers investment management, financial planning and banking-related services through their software. Anyone can open a Wealthfront investment account and receive a personalized, globally-diversified investment portfolio and access a variety of tax-efficient services.
It has automated both financial planning and investing in order to create suitable investment strategies for its clients. It uses a passive investing approach, which requires patience when the market is going against you. Wealthfront’s team of experts believe that if you invest in a diversified portfolio of low-cost ETFs, you have a better chance for a success than if you opt for an active investing approach and stock picking.
Wealthfront is a simple tool to invest with and a full featured platform. While it’s easy to write off as too easy or simple, it’s actually quite sophisticated. Wealthfront’s impressive Tax Loss Harvesting feature is more than enough to earn them a seat at the table.

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