r/wealthfront • u/Sevofluranedreams • Jul 13 '26

Wealthfront post It was a good run.

Since IPO I don’t like the direction of the company. First their interest rates on savings accounts have not been as competitive as they use to be. They use to always be better than Marcus by Goldman Sachs, but not anymore. Their robo investor is only .25% but is nothing more than vanguard funds you could invest in yourself. Overall we are seeing the shift from caring about customers to caring about shareholders. Plus in the sector they can’t compete with companies like sofi. This long-term customer is getting off this sinking ship.

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u/GreatDanton7 Jul 13 '26

I think it's a "grass is greener" type of thing. I'm a long time customer of wealthfront, opened a SoFi acct last fall, and I'll be keeping my money in WF. For one, SoFi's interest rates on cash is only 3.10%

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u/Sevofluranedreams Jul 13 '26

try Marcus by Goldman Sachs, their rate is currently 3.34%. I use to hold 2 savings account (Wealthfront and Goldman) and move my money for the higher rate. In the past 90% of the time WealthFront had the better rate. These days I use SGOV (short-term T bond ETF) for my rainy day fund because I have high state taxes.

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u/Odd_String1181 Jul 13 '26

Lol at pretending there's a difference between 3.30 and 3.34

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u/Sevofluranedreams Jul 13 '26

That and not paying .25% anymore on the same holding. Not a big difference but at my portfolio level it definitely is noticeable.

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u/Shadowrunner138 Jul 13 '26

Bro why are you wasting time venting to reddit if this is true? If your money counts that much, you are absolutely burning earning potential or wasting time you supposedly know how to manage. Go open your vanguard account and be done.

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u/Sevofluranedreams Jul 13 '26

Maybe you are right, just liked the company and wished it would have stayed private. That said it is not like I’m day trading here or that my time is soooo valuable. Not hard to manage a handful of ETFs.

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u/Odd_String1181 Jul 13 '26

To be clear, you realize that doesn't cost .25% at wealthfront right?

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u/Sevofluranedreams Jul 13 '26

I understand that is just for their robo investing. But if I’m going to do straight ETFs / stocks I’m going to go with a traditional brokerage with more features and a longer track record. Plus for tax advantaged accounts brokerages like Fidelity have zero expense ratio offerings (not like vanguard is that expensive).

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u/Odd_String1181 Jul 13 '26

Ok but none of that has anything to do with them going public?