Wealthfront Review: Safe, Scam, or Legit?
I keep getting questions about the pros and cons of Wealthfront, probably because they are advertising pretty heavily on Facebook and other platforms. So, it’s time for a Wealthfront review. The most important thing is to make sure Wealthfront is legit. It is SIPC insured (that’s like FDIC insurance for brokerages) so it at least has to be a real financial organization. Of course, that doesn’t mean that Wealthfront has good investment advice or good service advice, but it does mean that if they go under all of the sudden, then Wealthfront is safe insofar as your money is insured. Wealthfront reviews agree that Wealthfront is not a scam. Wealthfront Fees Wealthfront’s trademark is “Self-Driving Money.” It’s value proposition is that it will take care of your money, and manage it for you. Wealthfront is a robo-advisor, and one of the mini-investor platforms. Wealthfront fees are low. The main Wealthfront fee is the advisory fee of 0.25% on the amount deposited with Wealthfront. Of course, like any other wealth app, or brokerage, the investments Wealthfront uses have their own expenses. According to the company, the funds Wealthfront uses charge between 0.06% and 0.13%, which are very low fees for mutual …