https://www.investmentnews.com/article/20181221/FREE/181229985/sec-charges-wealthfront-and-second-robo-adviser-for-false-disclosuresI don't use Wealthfront, but I know some do and might want to see this.
The bad news: "For three years, wash sales occurred in at least 31% of accounts enrolled in Wealthfront's tax-loss harvesting, the SEC said."
Context: "During the period January 1, 2014 to December 31, 2016, wash sales made up approximately 2.3% of tax losses harvested for the benefit of clients."
Losing around 2% of your harvested tax losses to wash sales is probably pretty common for individual investors or human advisors implementing a TLH strategy. If you harvested losses this week there is a good chance you sold a fund close enough to the dividend date that any reinvested dividend would count as a tiny wash sale. Per the article, Wealthfront's issue was that their marketing said they would prevent wash sales.
Side note: There were also issues with how they used client testimonials and how they paid bloggers for referrals.
