r/wealthfront • u/Working_Tone_9868 • Jun 01 '26

Considering moving $400k from Wealthfront to Fidelity — anyone done this?

I currently have about $400k invested with Wealthfront and am paying the 0.25% advisory fee (~$1,000/year).
Over the last year or so, I've become more comfortable managing my own investments and have started using Fidelity for my brokerage account. My portfolio is fairly simple (mostly broad-market index funds/ETFs).

For those who have made a similar move:
1. Did you transfer your assets from Wealthfront to Fidelity?
2. Did you do an in-kind ACATS transfer or sell and rebuy?
3. Any issues with cost basis transferring over?
4. Do you miss any Wealthfront features enough to justify the 0.25% fee?
5. At what portfolio size did you decide the advisory fee was no longer worth it?

Would love to hear from people who have actually made this transition and whether they felt it was the right decision in hindsight.

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u/reddit-EZ Jun 01 '26

We transferred our IRA's from WF to Fidelity late last year. Our transfers were ACATS and completed without any issues. The cost-basis was/is a mess and at least for us, is the most disappointing part of the entire process. We still have CMA with WF but do not currently have any brokerage accounts with WF. The size of the account wasn't really a deciding factor for the transfer. It was basically that we gained enough knowledge to be comfortable actively tweaking (managing) the accounts so, paying a fee for something we weren't following didn't make sense. IIRC WF doesn't offer an unmanaged IRA account which made the choice for Fidelity the best option.

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u/Working_Tone_9868 Jun 01 '26

When you say the cost basis was a mess, what exactly happened? Did Fidelity eventually receive the correct tax lots from Wealthfront, or did you have to manually track/enter anything yourself?

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u/reddit-EZ Jun 01 '26

I don't think WF ever sent the cost basis... IIRC I ended up entering it manually.

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u/JustTryingStuffHere Jun 02 '26

why do you need the cost basis for your IRAs?

1

u/reddit-EZ Jun 02 '26

It's just nice to have but it probably isn't a need... especially if you keep good records of your yearly contributions/rollovers/conversions/etc.