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With a Wealthfront Cash Account, you earn 0.35% APY on your
everyday cash and enjoy checking features. With the Cash Account you can - Get
paid up to two days earlier with direct deposit - Use your account and routing
numbers to pay your credit card, rent, or mortg...
Very Functional and Easy to Use
This app is very functional and easy to use. It gives users a quick way to assess their complete financial situation through the ability to link to all your external accounts with other financial institutions. It will also show a projection of your financial situation throughout your lifetime, if you desire. The app makes it very easy to add money to your Wealthfront accounts or transfer money out of Wealthfront to another institution. There are two distinct reasons I did not give the Wealthfront app five stars. First, the app does not give users the ability to change their risk tolerance score. Users must log on to Wealthfront’s actual website to do that, which is tremendously inconvenient. Second, although I like the financial future modeling the app provides, there is no available explanation of the modeling used to make such a long term forecast. Specifically, I would like to know the assumed annual rate of return in the model as well as whether it accounts for an assumed annual pay increase or an assumed increase in the value of your home. This would all be possible by adding a simple link that explains the specifics of the assumptions and methodology behind the model used to calculate important values like your predicted net worth at retirement age. I am sure this seems like a niche request, but some more financially and data savvy users would appreciate it.
Great for account linking
These days I’m hesitant with which apps I choose to share my income info. (As they say, if the product is free then you are the product. ) Yet, I chose to bank with wealthfront for their high yield savings account with an APY ranging from 1.8-2.5 %, which is great compared to my previous banks .03%. I then linked my other retirement accounts & downloaded the app to use their PATH feature, which helps me understand how my different income streams & retirement accounts influence when I can retire. I also have > 100k in student loans and like that these accounts can also be linked & every time that I pay more than the minimum loan amount it’s nice to see how this effects my net worth & when I can ultimately retire. Keeping track of my account balances with the wealthfront app allows me to immediately see the small impact of my decisions to spend v save income—or use money to pay down debt.
Saving for my generation
Forget financial planners and traditional banks. This is how future generations will want to do business. By cutting out the physical locations and Human Resources, this company is able to offer the best options for savings possible. Fees are extremely low and I’ve watched my money grow over 3 years in this app. At tax season you can just upload your form into TurboTax making taxes super easy to do. Wealthfront also has features to save you lots of money on taxes. I withdrew 70k at one point and it was quick and easy. I had a question and I was able to contact customer service on the phone and get a quick smart response. Not an operator from who knows where reading a script. The humans are there if you need them (and they’re super smart!) but mostly this thing is run by robots. And I think that’s a good thing.
Cash account withdrawal fails!
First, I’m a huge fan how simple wealthfront makes investing in stocks. This review is on the cash account only. I want to make a bigger purchase this weekend and was saving every penny for this - putting my savings on the cash account in anticipation that I can withdraw this cash easily when I want to make the purchase. I initiated the withdrawal on Monday morning and still don’t see any cash on my bank account (4 days later), even tho they tell you it takes 1-3 days for the cash to hit your account. They also freeze deposits you make for 5 business days until you can withdraw them again for “security reasons”. I also have a cash account with American Express and made the transfer at the same time as wealthfront. My cash from then arrived one day later! This experience with welthfront cash is very frustrating, especially because I know that I have the money, it’s just frozen on their account! Worst case, I have to take out a loan to make the purchase because wealthfront failed to make a transaction on time! Thanks for this, wealthfront!
Awesome way to save and invest!
I love this app. Intuitive and informative. Looking at my investments now and then is a nice little bump of pleasure. Well as long as the market is doing well. It also lets me review my retirement plan and tweak the scenarios. Being able to link all of my accounts in one place is great. A few minor quibbles, like it says my retirement is in good shape but also has a suggested savings rate and I’m not sure if it in good shape without saving as much as they recommend or IF I save as much as they recommend. Or maybe I already am? Also the links to the other banks don’t already update but that could be the problem of the other institutions. Maybe a feature to notify you when a link hasn’t connected after a given window of time. I’m older and don’t take for granted that I’ve been able to save some money but this app is still great - or better really - for younger people to start investing early and take advantage of the magic of compound interest! Wish I had started earlier but at least I’ve had a 401k for the past few decades. Get the app. Start investing what you can afford. It’s one of the best gifts your present self can give to your future self. (And keep fairly healthy habits) :)
Simplicity for any level investor
I work with a CFP, I manage a stock and ETF account with scottrade, and have been using wealthfront for 18 months now. This is by far the easiest and now most lucrative of the 3, and I have yet to crest over $500 in fees. And once I do, they have about $5k in harvested losses that my cfp nor myself would have done because well, we have day jobs. So whatever fees end up going to wealthfront, which are minuscule, will easily be covered by their automated loss harvesting. The app is dirt easy, you can link other accounts and real estate holdings, etc. I can't recommend this enough to anyone, regardless of understanding of investing or retirement planning. These guys hit all the bases and their fees finance themselves with the tax loss harvesting. I.E. this is cheaper than free!
The one nice feature of this app is to have a place where all your accounts are linked. This allows you to see all your accounts on one platform, but there are many other apps that allow you to do this. Returns through Wealthfront are extremely poor. My investment strategy is set to the most aggressive option. Now I understand that you see large swings with an aggressive investment strategy, but I only ever see large changes when I’m losing money. Markets are doing well and I make extremely small returns. Markets are doing alright and I lose money. Markets are doing poorly and I lose more money. Add in the management fee and I lose more money. Stay away from this app if you’re looking to make money. I started this account to invest through something I didn’t have to monitor. I now see that I made a big mistake. After 2 years and a negative return, I think it’s time to take my money elsewhere. Could have made more money in a standard savings account than through Wealthfront.
Initially started as an experiment into automated ETF investment with low fees.
Savings used to be “decent” compared to others. Now, about half as much at 0.35% APY compared to high yield credit unions. Unfortunate. Reminds me of INGDirect back in the day. Great rate, then poor. ETF investments never did that well over a couple of years, despite strong bull market over period. A lay persons observation: Other investments did much better that were managed by people. Growth was up and down and dividends never that great. Tax loss harvesting seems overrated when there was a desire is grow value. It used to be solid with financial links (for years), now fails for two different key institutions for weeks with same message that it is being worked on to correct. I am wondering what is happening to them as this is unexpected. I have verified that other financial apps are able to integrate fine. As a result, I have had to move away from this app, for now at least.
Excellent for investments other features lacking!
For an investment account this app is awesome 5 stars for that! 3 stars for everything else. To utilize the other features that use linking external accounts it is terrible they break often (seems to be getting worse), are slow to update, and some places aren’t supported at all then you constantly have to manually update all the time. It causes inaccuracies or rather a lag in their projections and net worth calculations. This also leads to another issue I can’t use the highly touted new autopilot feature because they don’t connect to the credit union I use! Hopefully they get this straightened out soon. LOTS of work to do before they achieve “self driving money” status. About the only automated thing I can do is a recurring deposit to my investment account.
Nice Passive Investment
I have been putting money into this app for about a year now. I am a college student and don’t have much money so I put in the minimum amount I can for the monthly deposit so that I can still function financially. As a result of that, I’ve only put in about $1500 and Wealthfront has made me an additional $100. Not bad for a college student who is trying to put away money to go to grad school. I like to think that my money is better spent here than letting it sit in a bank and decrease in value as inflation increases. In about a year’s time I plan on updating this review to match my continued experience with this company. Hopefully I will continue to see these small gains that I wouldn’t see from my bank.
Best Investing Software Bare None
I started using Wealthfront because of Tim Ferriss. It has been the best financial decision I have made for my future so far. I'm a college student so my funds are rather small and was previously investing on Acorns. I got up to a couple of grand on there and realized my returns were terrible! Only around 4% per year!!! I knew I need to change and that's when Wealthfront came in. No fees under like 10-15k has and an easy simple set up process. Needless to say I sent my money over immediately. Just over the last 9 months (not even a full year) I've had a 12.5% return! No joke a whole 8% better return in less time. Wealthfront is the best set it and forget it investing service out there.
Overall Awesome App for Managing my Money
This app is very user friendly and intuitive. Significant improvements have been made over the years and I truly think it’s been very well built and provides features that are easy for anyone to use to help you manage your money. Wealthfront’s products are great for anybody looking to get into investing in the markets in a passive way and their learning documents are very helpful. Overall there is still work to be done on improving the accuracy of the projections and suggested savings features but it gives you a fairly good picture of your overall financial situation on any given day. Definitely recommend everyone to give Wealthfront a try.
Happy with it so far
After reading about online robo-advisors and weighing the pros and cons of each I decided to open an account with Wealthfront. My primary motivator was the fact that the first $10,000 (in my case $15,000) is managed free. If you read online robi-advisor reviews you can find affiliate sign-up links that offer an additional $5k managed free. It was easy to set-up an account. It took about 3 business days for my money to be transferred into my account. The app is user-friendly and easy to understand. I am still learning about tax-loss harvesting and I like that they send out beginner emails explaining terms and investment strategy. I’ve had my account for about a month. So far, so good.
Right now I am using the app as a second hand savings account for the moment since the APY of my regular savings account is stipend. But I love this app so far. I also love the feature is shows for your retirement money and the part when I shake my phone I can see how much money I have overall if i need to transfer that amount when I go on a trip to another country. Rn I connected all of my other brokerages and bank accounts to it and so fourth. This app does have a lot of potential to me and it seems like they are creating amazing things that I’ll be able to enjoy. There are other processes that can take if they want to be a bank like credit cards and percentage cash back base on a persons spending habits. I’ll be doing updates to this post while I try the other features later on to see if I can make passive income from the stock portfolio of the app. I do know they charge a fee for that platform but it seems interesting. Love the work you guys are doing at Wealthfront so far. Hope you guys can evolve this beautiful product even further. Sincerely, Dalius Beck
The Beauty and Positive Impact of Technology
I barely do Reviews, in fact this might be my first or second . That's how great of a resource and an app Wealthfront is, as a student I've always heard how it's advised that people get into investing and WealthFront makes that a reality with its very insightful and straightforward interface , along with it great investing strategies according to your risk. I'm a huge fan of the dividend reinvestment a and tax loss harvesting, along with the path feature that shows you how far along you are to fulfilling a financial goal of yours. I'm also a fan of the articles they lost frequently, which pose an unbiased Jew at various financial situation and how they affect you. Looking forward to the great features that are yet to come.
Yes. Wealthfront: Earn More is very safe to use. This is based on our NLP (Natural language processing) analysis of over 12,643 User Reviews sourced from the Appstore and the appstore cumulative rating of 4.9/5 . Justuseapp Safety Score for Wealthfront: Earn More Is 51.8/100.
Yes. Wealthfront: Earn More is a totally legit app. This conclusion was arrived at by running over 12,643 Wealthfront: Earn More User Reviews through our NLP machine learning process to determine if users believe the app is legitimate or not. Based on this, Justuseapp Legitimacy Score for Wealthfront: Earn More Is 51.8/100.
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