Wealthfront Review

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So what is it that makes this platform so great? Well for starters I will say that they were voted the number one roboinvesting platform by both Investopedia and NerdWallet which are two pretty big names for reviews in the financial services industry. Wealthfronts investing platform is largely based around the idea of passive investing which means putting your money into a portfolio and then leaving it alone and letting it grow without you or anyone else constantly making changes. And statistically, that method alone has a very proven track record when it comes to long term investing.

Okay so that's great and all but we've seen this handsoff investing approach from other platforms like acorns so what is it that makes Wealthfront any different? Well similar to acorns and other platforms they are going to build a custom portfolio that is diversified globally in lowcost index funds. Now that still sounds pretty similar to their competition but the place that Wealthfront truly shines is in the way that they minimize fees, manage your risk, even lower your taxes on your investments through some pretty smart strategies. And remember, all of this is done for you. But how does this all work?

Wealthfront is going to charge you a flat annual management fee of 0.25% which is certainly not the best when compared to some index funds but is still competitive considering what you get. So if you had $1000 invested then at a 0.25% management fee you would pay only $0.20 per month and even if you had $10,000 invested, you would only be paying $2.08 per month. And considering the sophisticated tools that you're getting that we'll talk about in a minute, this isn't that bad.

Outside of minimizing the fees that you're paying, I also mentioned that they’re going to actively manage your risk through a number of strategies that are programmed right into this software. And lastly, their software is also going to help lower your taxes by automatically implementing a strategy called a taxloss harvesting. Now I do not want to bore you to death with what this is but Long story short, we all know that you have to pay taxes on profits from your investments which is typically called capital gains tax but any losses you experience in the market can reduce your profits and therefore reduce the amount of taxes that you have to pay. And if that sounds a little bit too complicated to figure out and deal with, don't worry because Wealthfronts investing software is going to implement strategic taxloss harvesting techniques and place trades at specific times during the year in order to minimize the taxes that you have to pay which is amazing and as far as I know completely unmatched by their competition.
Wealthfront offers their standard investing platform for individuals, joint accounts, and even trusts, plus they offer traditional IRA, Roth IRA, Sep IRA, 401K rollover options, and even 529 college savings accounts. Needless to say, whatever investment goal you are trying to reach, they've probably got the account to fit the bill and will help minimize the confusion and stress that usually comes with investing.

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