First $5,000 managed free when you open a new account
Offer valid for new Wealthfront users
For many people without experience, investing can be intimidating. How do you get started? Which type of investment should you choose? Should you manage your money yourself? And if you hire someone to grow your money, whom should you choose?
Founded in 2011 in California’s Silicon Valley, Wealthfront is an investment firm that removes the guesswork from investing. It helps you build a financial plan and reach your goals with the help of automated investments. Consider letting it grow your money if these philosophies resonate with you:
Let’s dive into Wealthfront so you can see if it’s right for you.
Minimum deposit to open
|Available asset types||Mutual funds|
|Available asset classes||Real estate|
Emerging market stocks
Emerging market bonds
Foreign developed stocks
US total stock market
Dividend growth stocks
Wealthfront takes a user-friendly, all-in-one approach to investing, placing your money in a data-driven selection of assets that align with your financial goals:
While the minimum deposit is Wealthfront, it’s free to open a Wealthfront account. Plus, you won’t pay fees for withdrawals, account closure, account transfer or trades.
Wealthfront charges an annual advisory fee of 0.25% — lower than the industry average of 1%, and it doesn’t charge trading commissions.
It’s your money, and you want to protect it. Before signing up, understand what Wealthfront is all about and what downsides you should look out for:
Wealthfront’s design seems inspired by the “resources” page from your favorite civilization game and eschews financial jargon in favor of plain English. But while Wealthfront’s condensed user outlook encourages patting yourself on the back, I’m aware that the processes have been simplified for a distracted millennial mind. Due to its hyper-personalized approach, Wealthfront feels more like a glorified savings account than any kind of investment portfolio.
Even though opening an account with a traditional brokerage firm may appear more complicated on the surface, at least it holds the promise that you can one day visit a branch location, set a fully vetted plan in place for retirement and even learn a thing or two about how the sausage is made.
In order to open a Wealthfront account, you’ll need to meet a few eligibility requirements:
Throughout the application process, you’ll be asked to provide to provide the following information:
Now that you’ve signed up and established your profile and risk tolerance, you should take advantage of everything Wealthfront has to offer.
If you need to get in touch with customer service, you can send an email through the Wealthfront website or log in to your account to set up a phone call.
Wealthfront is an innovative company that’s built on passive investing, a strategy that’s praised by many. In fact, legendary investor Warren Buffet, advises most consumers to invest in index funds — a common form of passive investing. With low fees and automated portfolio management, it’s no surprise why millennials and many other beginner investors choose Wealthfront. But if you’re looking for a more traditional or hands-on approach to investing, this company might not be right for you. Compare your options to find a robo-advisor that can help you meet your financial goals.
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