Wealthfront Review 2019: Fees, Returns, Investing Services & Competitors
Robo advisors are increasingly growing in popularity, and these automated services are threatening to take huge amounts of business away from traditional financial advisors.
Multiple different segments of the investing public have already taken advantage of robo advisors for a variety of reasons. Many traditional financial advisors have decided to work cooperatively with robo advisors rather than try to compete with them directly, and this strategy has helped streamline the process and reduce costs.
Millennials use robo advisors because they remove the perceived “guess work” out of investing, which provides a measure of comfort to hesitant millennial investors. And often, robo advisors offer cheaper fees than human advisors, which also makes them attractive to this group.
And retirees and high net worth individuals can often test robo advisors because they have more disposable income.
But which robo advisor should you use?
To help you narrow down the choices, Business Insider Intelligence, Business Insider’s premium research service, has decided to review some of the most popular robo advisors on the market to help you make the most informed decision.
In this article, we’ll cover Wealthfront.
Wealthfront, launched in 2011, was one of the first companies to offer automated investing. Since then, Wealthfront has expanded its service to provide an all-in-one financial solution that focuses on three particular fully automated services: free financial planning, investment management, and lending.
So let’s take a closer look…
Wealthfront Review Summary
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. But arguably its biggest selling point doesn’t come into play until you reach $100,000, at which point the robo advisor offers direct indexing. Wealthfront is the only major robo advisor to provide this service, which uses your individual securities to hunt for tax-loss harvesting opportunities. This, coupled with daily tax-loss …read more
Source:: Business Insider