The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: BabyShark on December 21, 2016, 02:46:50 PM
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Hi all,
I figure this is a great place to ask this question that's been on my mind for a little while. I signed up for Wealthfront and have a little over $12,000 in my account there. I contribute $250/month to it. I guess I was curious about the whole robo-investor thing and decided to jump in with them about a year or so ago. I also have an Individual Mutual Fund with Prudential that my dad set up with his guy years and years ago for me, there's about $36,000 in that account but there haven't been any contributions to that in a while as far as I know
My question is, which option do y'all recommend:
1) leaving it all alone
2) stop contributing to the Wealthfront account but leave it be and start a Vanguard account with my monthly contributions
3) Close the Wealthfront account and move it all to Vanguard
4) start contributing to the Prudential account in some fashion
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Wealthfront doesn't charge a whole lot, but you could certainly get very similar results doing it yourself with vanguard or fidelity or schwab. The main benefit is rebalancing, which you could easily do with a simple calculator and a reminder on your calendar to check the balances every quarter or so. I'd say move it all, but just my opinion.
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It seems much more likely that X number of years from now, Vanguard will be around than Wealthfront will be around.
That might be an issue to consider.
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Another thing to think about: customer service. Try vetting them out.
I can't speak for Wealthfront or Prudential, but Vanguard's customer service has always been phenomenal from my experiences.