Do you want to start building wealth in just a few minutes? Then Wealthfront will be the best option for you. Wealthfront is a low-cost online advice solution that uses a robo-adviser to help you make money on your own.
Wealthfront sign up bonus offers you to get $5000 managed for free and you’ll get 4.05% APY on your savings. Plus, you can take advantage of Wealthfront referral program and get $5000 managed for free every time you refer someone.
In this article, we’ll go through everything you need to know about Wealthfront, including their promotion offers, pros and cons, fees, and steps to claim Wealthfront sign up bonus.
What is Wealthfront?
Wealthfront started in 2008 and was one of the first companies to offer robo-advisor services. These days, it’s a popular choice for people who want automated financial advice, and even financial advisors think it’s the best robo-advisor for financial planning.
Since it started, Wealthfront has added a bunch of tools and services that can help you manage your finances all in one place.
Also checkout the latest offer from investing apps:
Wealthfront Sign up Bonus: $5,000 Managed Free
The platform offers a Wealthfront sign up bonus where you can get a $5,000 Managed Free deal just for opening a qualifying account.
There’s no expiration date for this offer, and you only need a minimum investment of $500 to get started. Plus, there’s no closing account fee to worry about. It’s a pretty sweet deal, right? Let’s learn how you can claim it.
How to Claim Wealthfront Sign up Bonus?
Here are the steps broken down for you:
- Sign up and open a Wealthfront account.
- Choose your primary reason for investing.
- Only $1 is required to open an account, with no additional deposit requirements.
- It only takes a couple of minutes to open your account.
- Fund your account using one of the following methods: Deposit cash via ACH bank transfers, transfer/rollover, wire transfer, or check (529 accounts only).
- As a bonus, Wealthfront will reduce their advisory fees for you by increasing the portion of your assets that they manage for free by $5,000.
That’s it! Just a few simple steps to get started and enjoy reduced advisory fees with Wealthfront sign-up bonus.
Wealthfront Referral Bonuses: $5,000 Managed Per Referral
After claiming your Wealthfront sign-up bonus, it’s time to earn more by inviting your friends. When your friends use your unique referral link, they’ll receive $5,000 for free! Plus, for every person you refer who opens and maintains a funded account, you’ll receive $5,000 managed for free.
If you want to share your referral link, feel free to leave it in the comments section below! It’s a win-win for you and your friends.
How to Claim a $5,000 per Referral Bonus?
Here’s a step-by-step guide on how to earn the Wealthfront referral bonus:
- If you want to refer others to Wealthfront and earn the bonus yourself, share your unique referral link with them.
- When someone signs up for a funded account using your referral link, you become eligible for a reduction in Wealthfront fees by increasing the portion of your assets that Wealthfront manages by $5,000.
- The referral bonus is ongoing as long as you and your referrals maintain funded accounts with Wealthfront.
That’s it! Just follow these simple steps to earn the Wealthfront referral bonus. Wealthfront employees don’t receive any additional compensation for participating in the program, and Wealthfront doesn’t directly compensate the referrer.
How does Wealthfront Work?
Wealthfront is designed to make investing easy. Its robo-advisor uses technology to help you “make money on all your money.” Once you sign up, you get to choose how you want to invest your money. Here’s what you can choose from.
- Invest for the long term with a taxable investment account.
- Plan for retirement with an individual retirement account (IRA). Choose from a traditional IRA, Roth IRA, or SEP IRA.
- Save for college with Wealthfront’s 529 college savings plan.
- Open a cash management account with Wealthfront Cash, which pays an APY of 1.40%.
If you choose the long-term investing option, you’ll answer a few questions to determine your risk tolerance. Wealthfront assesses your general risk tolerance by asking about your priorities and the likelihood of selling in a market dip.
Using your answers, Wealthfront recommends a portfolio of funds that match your risk tolerance. Not only this, Wealthfront suggests tax-loss harvesting strategies to lower your tax bill when your taxable account reaches between $100,000 and $500,000. Once your account is over $500,000, you’ll have access to more advanced stock-based strategies.
Wealthfront: Pros & Cons
After learning about the platform and Walthfront sign-up bonus, let’s see what are the benefits and drawbacks.
- Low expense ratios for ETFs.
- Daily tax-loss harvesting.
- Automatic portfolio rebalancing.
- No option for fractional shares.
- No human financial advisors are available.
Who Should Use Wealthfront?
Wealthfront is a great choice for people who want a hands-off investing experience, especially for those who are looking for taxable accounts. They also offer free financial tools that you can access even if you don’t have a Wealthfront account. Not only this, you can use Wealthfront if you’re saving for college. Wealthfront has a 529 college savings plan management.
Wealthfront has straightforward and transparent fee structures for its investment accounts and other financial products. For a taxable investment account, the account minimum to open is $500. The advisory fee is 0.25% of assets, which means an account balance of $10,000 would pay about $25 per year.
If you opt for Wealthfront’s 529 college savings plan, fees range between 0.42% and 0.46%. These fees include the 0.25% advisory fee, as well as expense ratios and administration fees.
Expense ratios charged by ETFs and mutual funds range from about 0.03% to 0.39%. And these fees are in addition to the advisory fee.
Wealthfront also offers a line of credit, which has an investment minimum of $25,000 to access. The line of credit has an annual percentage rate (APR) between 2.40% and 3.65%. But borrowing on margin comes with risks and may not be suitable for all investors.
Overall, the Wealthfront is a great way to start investing in a low-cost, hassle-free way. With its focus on providing sophisticated financial advice without high fees, Wealthfront is a great choice for those who want to invest in a hands-off way.
By signing up through an invitation link, you can even receive the $5,000 managed for free as Wealthfront sign up bonus. So why not give it a try and let them do the work for you?