Wealthfront good or .... what is the alternative?

Apple dvbR56
Apr 10 10 Comments

I had today conversation with financial advisor.
According to him, wash sales WF performed screwed tax harvesting as well WF provides its low performing mutual funds, with significant hidden fees.

What you think?
Any good alternative for money management?

Thanks

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TOP 10 Comments
  • Uber Hd63gf7
    Wash sales? That’s 100% false. If you trade outside wealthfront you can trigger wash sales yourself but wealthfront for sure doesn’t. Also, go to wealthfront’s website, look at the public list of funds they invest in, and decide for yourself if they are low performing.

    Of course a financial advisor would recommend against a robo advisor lol
    Apr 101
  • Microsoft cWww76
    Was that advisor a fiduciary? As I understand, only fiduciary is obliged to act in your interest.
    Apr 101
    • Apple dvbR56
      OP
      According to this advisor, they don’t hold any assets, so purely on clients interests, have 0.89% management fee.

      I’m not sure if you was sarcastic in your post
      Apr 10
  • Two Sigma oreo yum
    Wealthfront is a rip off. Vanguard target dates funds or other Vangard funds are a better alternative. Wealthfront charges you a fee that they advertise, but then the stuff they buy on your behalf also have fees. If they performed well the fees would be worth it, but they don’t. Tax loss harvesting deductions are capped, so they don’t make a big impact for people making FANG SWE pay.
    Apr 101
    • LinkedIn let
      Tax loss deductions do make a big impact if you have any capital gains. They are capped at 3k per year from regular income, but you can always deduct losses from your gains (which most of us get from ESSPs and RSUs).
      Apr 10
  • Chase nghtmre
    Did your advisor give more info in a comparison? Meaning was this person cherry picking or actually convinced you with facts?
    Apr 101
    • Apple dvbR56
      OP
      He throws a lot of data, not so straightforward to verify
      Apr 10
  • Chase nghtmre
    http://money.com/money/5330932/best-robo-advisors-beginner-advanced-2018/

    “Betterment levies a management fee on top of the fees your funds charge, making it slightly pricier than some robos.”
    Apr 100
  • Amazon URsl53
    For 0.89percent, they probably are truly investing in the best market products. They are or course taking .89percent for that privilege, but they are transparent about it.
    Apr 100

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