We update the app weekly to improve performance and squash bugs.
Ratings and Reviews
Easier to use than bank apps, much better interest
I also use apps for my accounts at US Bank and TruStone Credit Union. This app is much better. The US Bank app is often down or gives strange error messages. The credit union app is confusing.
I can transfer money back and forth to my checking account quickly and safely.
The interest rate is way better than US Bank, which also has stealthy fees. When I sold my house, I had to pay them $300 to close my home equity credit line, which I had never used. The US Bank person who talked me into opening it said it was fee-free. What a lie. US Bank also applied a $15 or more monthly fee to my savings account that paid a fraction of a percent interest, and a similar fee to my checking account. When I complained, they started just crediting the fees back every month. I’m sure they will stop crediting them sometime to see if I notice.
Very Functional and Easy to Use
This app is very functional and easy to use. It gives users a quick way to assess their complete financial situation through the ability to link to all your external accounts with other financial institutions. It will also show a projection of your financial situation throughout your lifetime, if you desire. The app makes it very easy to add money to your Wealthfront accounts or transfer money out of Wealthfront to another institution.
There are two distinct reasons I did not give the Wealthfront app five stars. First, the app does not give users the ability to change their risk tolerance score. Users must log on to Wealthfront’s actual website to do that, which is tremendously inconvenient. Second, although I like the financial future modeling the app provides, there is no available explanation of the modeling used to make such a long term forecast. Specifically, I would like to know the assumed annual rate of return in the model as well as whether it accounts for an assumed annual pay increase or an assumed increase in the value of your home. This would all be possible by adding a simple link that explains the specifics of the assumptions and methodology behind the model used to calculate important values like your predicted net worth at retirement age. I am sure this seems like a niche request, but some more financially and data savvy users would appreciate it.
Developer Response ,
Hi and thank you for the feedback. Please note, all of this information is available on the full website. The methodology for our model is available on the app (click on your specific goal and scroll down to Methodology). Please send an email to firstname.lastname@example.org for any account-specific questions. We will also share your feedback with the team. Thank you.
Saving for my generation
Forget financial planners and traditional banks. This is how future generations will want to do business. By cutting out the physical locations and Human Resources, this company is able to offer the best options for savings possible. Fees are extremely low and I’ve watched my money grow over 3 years in this app. At tax season you can just upload your form into TurboTax making taxes super easy to do. Wealthfront also has features to save you lots of money on taxes. I withdrew 70k at one point and it was quick and easy. I had a question and I was able to contact customer service on the phone and get a quick smart response. Not an operator from who knows where reading a script. The humans are there if you need them (and they’re super smart!) but mostly this thing is run by robots. And I think that’s a good thing.
With Family Sharing set up, up to six family members can use this app.