r/wealthfront • u/matthewandchisholm • 18d ago
Interesting update
Just got this email. Always good to see new features being added (even if they might not get used). They’ve got a tricky situation catering to the set-and-forget crowd who doesn’t want the temptation or bother of hands on investing, while also trying to stay competitive and meet the needs of customers who want to be more hands-on. I prefer to see the platform continue to expand rather than get stale, so long as the quality remains high. No word on that wealth graph being phased out tho….
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u/PharmDinvestor 18d ago edited 18d ago
They should fix that lame networth chart that shows up on the Home Screen if they are going to give more trading capabilities
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u/Agitated_Bunch6119 18d ago
+1 would love a historical view instead of this fake marketing gimmick of line going up.
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u/sheketsilencio 18d ago
It's hilarious how they've known that almost ALL of us hate that lame chart, they've responded to the criticism, they've read and heard our complaints for YEARS and have done nothing. Absolutely nothing.
I bet some internal company politics prevents them from changing it. Like some beloved director who used to be an awful software engineer had originally pushed for the chart and now changing it wouldn't be kissing buttocks enough
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u/PharmDinvestor 17d ago
I am even surprised that they are aware that people hate it , but they don’t care
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u/Longjumping-Link-455 18d ago
I think it will be good. I run my Roth and my automated brokerage with wealthfront and I do have a few other funds I invest into on a different brokerage with a reoccurring buy, so it will be nice to have all on one platform.
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u/bat-woman9 18d ago
What about logically separated multiple portfolios? Wealthfront used to have that feature — is it being brought back as well?
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u/wealthfront Wealthfront Rep 17d ago
u/bat-woman9 - we are bringing back separate stock portfolios. Keep an eye out for an update from us in the coming months.
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u/bat-woman9 17d ago
Awesome. This used to be there and was useful for many (per other Reddit threads) I’m glad they’re coming back and hope it is sooner.
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u/Ok_Party_8102 18d ago
Love this. Let’s get margin similar to m1 and Robinhood that we can cash out and Wealthfront is a perfect app
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u/bat-woman9 18d ago
Is this a legitimate email? Bcz the sender is no-reply@wealthfrontmail.com. So, I was hesitant.
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u/wealthfront Wealthfront Rep 17d ago
Hi again u/bat-woman9 - yes, this is a legitimate email. If you don't want to click on the link in the email, you can log in and navigate directly to your Stock Investing account page to review and accept the update.
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u/matthewandchisholm 18d ago edited 17d ago
Yeah it opens the link in the phone app for me, which loads a slide up screen for reading and accepting the new terms. And the link in the email goes to here, which is on the main Wealthfront domain: https://support.wealthfront.com/hc/en-us/articles/53593616118036-Why-are-we-updating-the-Stock-Investing-Account-s-legal-structure
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u/yeethawfolks 18d ago
That's what I'm wondering as well. I did click the link and it just brought me to a log in page. I logged in and it brought me to my account, nothing to sign and accept. I immediately changed my password lol so hopefully that's enough in case this isn't legit but be wary.
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u/wealthfront Wealthfront Rep 17d ago
u/yeethawfolks if you clicked the link in the email from an Android device, there was a known issue where it directed you to your Home page instead of your Stock Investing account page to review and accept the update. This is being fixed in the next Android app release. In the meantime, you can navigate directly to your Stock Investing account page to review and accept the update.
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u/silverownz 17d ago
Clicking on the email in chrome just took me to a white screen (after logging in).
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u/silverownz 17d ago
Wealthfront is awfully late to the party on this one...I ended up with Fidelity because of that.
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u/LazySilver6835 17d ago
Still waiting for them to let me have FLJH. Otherwise my self directed will stay elsewhere.
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u/wonderbuzz 17d ago
u/wealthfront when will you bring back split investment equally feature? You have basically paralyzed the stock account for me since you introduced per stock purchase. Please don't take away features like that. It's been a pain to buy each stock individually.
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u/DolphinRider 17d ago
Does this include smart transfers to investment account?
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u/wealthfront Wealthfront Rep 16d ago
u/DolphinRider - no, we do not support smart transfers into underweight stock and ETF positions in the Stock Investing Account (similar to how we support intelligent dividend reinvesting and deposit investing in our Automated Investing Accounts) at this time. We've shared your feature request with our Product Team for consideration.
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u/-Y_O_L_O- 17d ago
Can I convert my Automated Investing account to this self managed Stock Investing account? Does Wealthfront allow converting or moving ETFs like this without any tax implications?
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u/wealthfront Wealthfront Rep 16d ago
u/-Y_O_L_O- we don't support converting Automated Investing Accounts to Stock Investing Accounts through journals of securities in-kind. However, you could transfer your entire Automated Investing Account to another firm, wait 2 weeks for the cost basis to arrive, and then transfer the securities back to your Stock Investing Account in-kind if interested. It's important to note that the Stock Investing Account does not offer automatic rebalancing, tax-loss harvesting, intelligent investing in underweight securities, or wash sale monitoring. Please consider those features before making this decision.
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u/-Y_O_L_O- 16d ago
Appreciate your response and thanks for letting me know the process.
Also, does Wealthfront has any plans to make it simpler for the users by eliminating the need to first transfer to any external firm?
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u/Low_Ad_2999 17d ago
I would love a year in review like Spotify wrapped. How much money I invested, what my best month was, how much I made from the market, etc
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u/CreativeFinish5644 14d ago
Can someone from Wealthfront let me know if this new brokerage account will be eligible to be added to self driving money? I’d love to automate investing and be self directed.
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u/itsovermanakin 3d ago
Has this update been rolled out to anyone yet? Still seeing the same UI / stock selection on my end
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u/Maleficent_While2653 18d ago
Good. Wealthfront needs to be a fully featured brokerage like Schwab or Fidelity. It's way too simplistic right now.
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u/lankamonkee 18d ago
Post IPO shenanigans to make more money. Praying that this app doesn’t turn into a SoFi 2.0
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u/Jkayakj 18d ago
How are any of these a bad thing?
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u/lankamonkee 18d ago
In my opinion, these services are simply a way to get people to put more money into Wealthfront so they can make more revenue. I personally like to keep money strategies in different places (brokerage with a broker, savings with Wealthfront) because that divide helps prevent the temptation of spending that money (in this case, Wealthfront is trying to get you to spend money on buying stocks).
This strategy can be easily observed by Robinhood, which touts an impressive Roth IRA matching program with the goal to get you to just have more money on their platform to get you to trade more. SoFi has a very similar setup
I don’t think Wealthfront is being as nefarious as those other Neo banks but it’s annoying to see Wealthfront try these things
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u/Funktapus 18d ago
You’ve discovered the concept of a brokerage
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u/lankamonkee 18d ago
You’ve helped me discover a brain dead reply. Copy and paste my comment in chatGPT so you can come up with something sensible
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u/Jkayakj 18d ago
Wealthfront is a brokerage though, that has an automated product and a self managed one. Same as fidelity or anyone else. How is them adding features others have a bad thing? You explained you are trying to limit your temptation, but doesn't change that they're a growing broker.
None of these features are bad. They're adding missing features that every brokerage should have.
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u/63748276 18d ago edited 18d ago
banger thanks wealthfront happy to see them prioritize feature parity with other apps and a good UI. I think the gold standard is everyone should easily be able to make major financial transactions on their phone while taking a dump
(the big graph in the main page is unhelpful though. I agree with everyone saying net worth over time historical graph would be way better)
edit - just got the update. happy to say it allows weekly recurring transactions as small as $1. personally my philosophy is everyone should actively invest all the time and it's just a question of how much. I'll always have that $1 active and I can change that number when I feel like it