What does Wealthfront do well? Wealthfront does a great job of linking all of your accounts and providing you with a clear financial path. What I like best is that I can enter "life goals" such as buying a house or retiring. Wealthfront will look at how much money I have saved, how much I'm saving per month and where I am at in reaching that goal. It is very open and blunt if you are not going to reach it. It will tell you, this goal is unattainable and that you need to be saving $x.xx amount more per month if you intend to realistically reach that goal. I love the motivation this program has given me to save.
What does Wealthfront not do well? Wealthfront does a couple things that make the process cumbersome. For one, the process of linking accounts sometimes takes a while and I often find when I log back in that I have to reestablish a link with many of my accounts, even some that I had just linked the day before. I'm not sure why they do not stay linked. Additionally, when transferring money into my investment account, they will not let you transfer anything less than $100. For individuals that are not wealthy, we sometimes do not have hundreds of dollars to invest at once. If I could invest $20-$50 here and there, I would definitely use their platform more to invest. Right now, I'm using commission free platforms and only using Wealthfront to keep a vision on my path to retirement.
What do you wish you had known about Wealthfront before using? I wish I had simply known about it sooner so I can see earlier on that I was not on a good path to retirement in my younger years. I do also wish I had known about their minimum. I committed to using them for one of my retirement accounts, only to find out they have a minimum transfer amount of $100. So you can't simply throw $20-$30 into your investment account when you have it. You have to transfer $100 or more each time. I do find that a bit annoying.
Have you used a competitor to Wealthfront? If so, how does it compare? I have used Acorns and Stash Later for my retirement needs. I think both of those are great for investing small amounts. However, I think Wealthfront is the best for long-term retirement planning and getting the full view on if you are on the correct path to meet important life goals.