Wealthfront: Save and Invest

No complaints, easy interface, smooth transfers.

It’s become an unprofessional service. There're better ones out there that provide the same interest rates, offer cash deposit, a high yield, and FDIC insured accounts. They turn a profit, but there're other less sensitive, more professionally ran services out there that’ll do that. Fidelity, Public, and even Robinhood are all better. The big benefit of Wealthfront is how clean and simple their platform is, but it isn’t worth dealing with management and the constant “upgrades” and changes they are making. It is definitely for beginners and I learned a decent amount as an amateur. But I’ve had to move on. I feel like I should finally let all my complaints come out since I’m no longer a client. After being a client there for 2yrs they “kicked me out” cause I complained too much about transfer times. They gave me 10 days to pull my cash out of my account HYCA and to notify them of a portfolio transfer, or they’d liquidate it all back to my bank. If they were a bank, this would be illegal, but because they are considered a broker, it isn’t. Under their client agreement they can terminate client relationships. So I moved my portfolio to Public (and I’m not surprised that over a week later, I still haven’t received all my funds from Wealthfront). I want clients to know that Wealthfront is being investigated by some law firms for letting the CEO own roughly 95% of its recently purchased, heavily advertised home-lending business and then its subsequent poor stock performance after said arrangement became public. I recommend Public, Fidelity, Schwab or any of the classics. Their product is just becoming flat out worse. Between portfolio management options, net worth projections, and Plaid integration, they've refused to keep their product simple and their app/team have both suffered for it. I 0/10 don't recommend! I’m also suspicious some of the more recent positive reviews are made by employees, so just keep that in mind!

Wealthfront has allowed me to actually start investing with having no real investing knowledge of what stocks and companies to invest in. I just set up the auto investing and put a couple bucks in every paycheck and let it do its thing. Also the HYSA is amazing knowing my money is working for me and not just sitting there. Plus it’s all FDIC insured which is a must for having your mind at ease when keeping your money somewhere. 10/10 would recommend.