Wealthfront (http://wealthfront.com ) is removing their “first $10k managed for free” thing as of April 1st, so if you wanted it, FYI. Not a terrible email announcement either:pic.twitter.com/huMGWHrrbB
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I use wealthfront and think that “a computer picks your investments and, since it can do this for arbitrarily high numbers of people in parallel, charges you very little for this service” is fundamentally the right model for almost everyone.
The only interesting question for most people is whether “roboadvisors” are the best way to deliver that model or whether e.g. target date retirement funds from Vanguard are.
Why do that? I’ve always found that grandfathering in people indefinitely on old plans is a disservice because you’ll prioritize the higher paying ones always.
It just seems that starting to charge leads to some churning (angrily), but the good ones stay. Might be different B2C than B2B though. I operate in B2B.
Very well done. Wish the team at @itglue read their playbook. If they did, they reversed it recently…
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