Wealthfront: Save and Invest

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1. ★★★★★negative experience without a specific reason· unspecific

   “Upgrade” to using Plaid. Wealthfront recently updated their account linking process to use Plaid. Now I cannot connect my 401k, my mortgage or my external brokerage account making the entire wealth tracking useless as these are my largest accounts that have frequent changes. Plaid was introduced months ago and these issues still persist. The most frustrating part is all of these connections worked before but do not work now. Thanks for the “upgrade”.

2. ★★★★★negative experience without a specific reason· unspecific

   Bait & Switch. When I 1st created my account I was able to invest at the 4.2% apr that was advertised on tv. After the 1st month that went down to 3.8%. After the 2nd month it was down to 3.2%. I closed my account. I still see tv ads for 4.2%.

3. ★★★★★negative experience without a specific reason· unspecific

   Thieves. This app and its developers are thieves, I signed up and linked my external account. I did all required verification only for them to close my account a day after I funded it with $15k.. then they say they can’t accommodate my account and they can’t give me any more details. Please I need my money returned

4. ★★★★★account bans or deletion without explanation

   Terrible. Constantly loses connection to bank accounts. Regret signing up, should have gone with another.

5. ★★★★★inaccurate results and incorrect data

   Inaccurate info. I’d be careful as recently I’ve noticed the information they wealthfront on my balances is inaccurate and just simple wrong

6. ★★★★★negative experience without a specific reason· unspecific

   Do not recommend. Betterment is superior

7. ★★★★★account bans or deletion without explanation

   Failure of Service. I signed up after winning big, followed all the instructions. Was preparing for direct deposit of my money to only suddenly be locked out of my account with no further explanation while transfers and account links were still pending. All of this within 1 day of signing up. Terrible service.

8. ★★★★★negative experience without a specific reason· unspecific

   Worst financial experience ever. What a joke. Don’t put your money with these people. It will take days and days for the simplest transaction. The balances don’t update. The support is lacking and they are completely useless if you need to deal with their “partner” banks. Never experienced anything like it. Disgraceful.

9. ★★★★★negative experience without a specific reason· unspecific

   Politics. I started using wealth front because my sister thought it would be a great idea to help boost my APR, but I just received an email earlier today stating that they have a fund that is politically motivated and wanted me to invest my children’s money into it. As soon as my introductory rate is over, I will be pulling my money out.

10. ★★★★★negative experience without a specific reason· unspecific

    Plaid, ugh…. Well all of the forecasting stuff that I have used for at least 10 years is now dead. Switching to Plaid now prevents me from tracking almost all of my accounts. Thanks 😕

11. ★★★★★slow performance and long loading times

    Stay Far Away. It’s become an unprofessional service. There're better ones out there that provide the same interest rates, offer cash deposit, a high yield, and FDIC insured accounts. They turn a profit, but there're other less sensitive, more professionally ran services out there that’ll do that. Fidelity, Public, and even Robinhood are all better. The big benefit of Wealthfront is how clean and simple their platform is, but it isn’t worth dealing with management and the constant “upgrades” and changes they are making. It is definitely for beginners and I learned a decent amount as an amateur. But I’ve had to move on. I feel like I should finally let all my complaints come out since I’m no longer a client. After being a client there for 2yrs they “kicked me out” cause I complained too much about transfer times. They gave me 10 days to pull my cash out of my account HYCA and to notify them of a portfolio transfer, or they’d liquidate it all back to my bank. If they were a bank, this would be illegal, but because they are considered a broker, it isn’t. Under their client agreement they can terminate client relationships. So I moved my portfolio to Public (and I’m not surprised that over a week later, I still haven’t received all my funds from Wealthfront). I want clients to know that Wealthfront is being investigated by some law firms for letting the CEO own roughly 95% of its recently purchased, heavily advertised home-lending business and then its subsequent poor stock performance after said arrangement became public. I recommend Public, Fidelity, Schwab or any of the classics. Their product is just becoming flat out worse. Between portfolio management options, net worth projections, and Plaid integration, they've refused to keep their product simple and their app/team have both suffered for it. I 0/10 don't recommend! I’m also suspicious some of the more recent positive reviews are made by employees, so just keep that in mind!

12. ★★★★★data, history or progress disappears

    Lost historical data. I have used Wealthfront for years and have loved it up until recently. Wealthfront suggested I reconnect my external accounts with Plaid. When I did I realized it wiped my 12 month contribution average for my accounts. This was a key metric for their retirement planner. That feature is now useless and there is no long any reason for me to have my accounts linked. I guess I will go back to a spreadsheet? Good thing Claude can likely make a better experience for me now.

13. ★★★★★negative experience without a specific reason· unspecific

    Check deposit. It’s bad. Can’t ever get it to work

14. ★★★★★account bans or deletion without explanation

    Huge Pain to Use. This app is such a hassle to use. There are long delays after you move your money into Wealthfront before they’ll let you invest it. They periodically “expire“ your linked bank accounts and won’t let you deposit more money until you re-link them. No other banks/apps do that. It’s impossible to tell the tax implications of things you do in the app. It’s probably not worth it even if the app was free, but definitely not with their fees.

15. ★★★★★support does not respond or resolve the issue

    Customer service is horrible!!. Customer service is horrible!! Not only are they lazy, unhelpful but it takes them weeks to respond. Absolutely ridiculous!

16. ★★★★★negative experience without a specific reason· unspecific

    Scam!!!. Took my money and now I can’t access my account

17. ★★★★★negative experience without a specific reason· unspecific

    Don’t use. Can never connect to Marcus (Goldman Sachs). It is extremely annoying how they never bother to fix the issue of not able to connect to Marcus by Goldman Sachs, which is a big institution. Have to log in to every single CD account I have everytime I open Wealthfront, and 9 out of 10 times it says “it can’t connect to Marcus”. Stay away, don’t use Wealthfront

18. ★★★★★negative experience without a specific reason· unspecific

    Worst financial institution to ever exist. These people deserve ZERO stars. Don’t make a mistake & open an account with these idiots!

19. ★★★★★login, signup and account access

    Do not use this company. My account was closed without warning or explanation. I was suddenly unable to log in, and when I contacted customer support, I received the following response: “Thanks for contacting us — after review, our team has determined that we’re unable to support your account at Wealthfront. This decision is final, and we are in the process of closing your account.” At the time, I had simply reordered my card; no other changes or issues were communicated to me. No reason for the closure was provided, nor was any opportunity given for clarification or resolution. Based on this experience, I would not recommend Wealthfront. I initially signed up based on a recommendation from an investment-focused YouTube channel, but the lack of transparency and abrupt account termination raise serious concerns for me as a customer.

20. ★★★★★negative experience without a specific reason· unspecific

    You keep dropping the rate, now you’re being dropped.. Started using you over a year and a half ago with a 5% rate. Now it’s down to 3.25%. Not much more to say. Plenty of better savings accounts out there.

21. ★★★★★negative experience without a specific reason· unspecific

    Absolutely horrible. I had over $1600 stolen from my account. Wealthfront didn’t send me a fraud alert. They did nothing when somebody spent TWELVE HUNDRED DOLLARS at ticket master and over FOUR HUNDRED DOLLARS at Walmart. They had me file a dispute. Said it’ll take 30-90 days. Meanwhile, I cannot pay my rent, I cannot buy food, I cannot buy my dogs food. They are doing absolutely nothing to get me my money back after the theft. I’m not disputing charges that I made and I didn't receive. I straight up reported theft. Nothing. I filed a police report. A bank is supposed to have your back with this kind of stuff. Horrible. Horrible. Horrible.

22. ★★★★★crashes, freezes and errors

    Stay away!!!!!. Once you deposit some money you can wait a thousand years to move money out again. I deposited salary last Friday and all my savings are frozen for a week straight. Can’t buy groceries. Can get gas. Abusive bank and abusive apps stay away

23. ★★★★★negative experience without a specific reason· unspecific

    Not what it once was. Used to love this app for my savings. Got interested in their investment accounts, sadly they are probably the most inefficient on the market. Money transfers take at least an hour if you’re investing, and it’s taking over a week for them to withdraw my account savings. I did love this app because of its high APY, but now it’s not even the highest and other platforms like robinhood and Webull offer the same rate, and they’re much faster regarding money transfers and orders. Hopefully they get it together, but I will not be using this app again.

24. ★★★★★negative experience without a specific reason· unspecific

    Can’t transfer money out of savings account. I can’t take money out of my Wealthfront savings account, on mobile or web. I have no other accounts with Wealthfront, I’ve been using Wealthfront for years and have transferred money out many times before, the mobile app is updated, VPN is off. When I messaged customer service, they told me that I had to select my account… which was the only one there so what else would I have selected? I sent screenshots of what I see on the page: no account names, no bank or Wealthfront icons, nothing is clickable, it looks like less than a wireframe. Also called 10 hours ago and still no updates. I need to pay my bills! To new people considering Wealthfront: maybe have another savings account with another bank in case this happens to you.

25. ★★★★★account bans or deletion without explanation

    Horrible first impression. I downloaded this app because I heard about its high APY rate on its savings account. So I go and try to create an account it keeps taking me in circles. It won’t let me link my bank account and it keeps deleting things like my name and my email out of text boxes and then sends me back to the previous page to retype it in every single time.

26. ★★★★★negative experience without a specific reason· unspecific

    Terrible Bank -Avoid. They make you go through a lot of hoops to send a wire and to get money out of their system once they have it. They are affiliated with Green Dot bank, if you don’t know, please read up about their fraudulent past.

27. ★★★★★negative experience without a specific reason· unspecific

    Unorganized. They placed my money in the wrong account and now I have to wait six days for this transaction to clear. Meanwhile they are making money on my money for those six days and I don’t get compensated…not worth the trouble

28. ★★★★★account bans or deletion without explanation

    Not helpful—do not download. UPDATE: They finally decided to respond to my multiple messages by deactivating my account without explanation. Not sure what happened to my first review, but the customer support is HORRIBLE and UNRESPONSIVE. After being locked out of my account right after an update to the app(and shortly after I downloaded and opened an account) I couldn’t get back in. I’ve already sent out a few emails to their support and no one ever gets back. There’s better apps out there that are more responsive, tbh. Proceed with caution if downloading.

29. ★★★★★negative experience without a specific reason· unspecific

    DO NOT GIVE THEM MONEY. If you ever want to transfer the money from this app back to your account it will take a month what a joke not to mention their trading algorithm is terrible just loses you money don’t give them your money basically a scam

30. ★★★★★account bans or deletion without explanation

    useless. doesn’t let me link my bank account again since i missed the two deposits they make, now it’s asking me to forcefully link another bank account what a waste of time, i’ll just go and invest my money somewhere else