wealthfront
Will Faught
July 2015
Wealthfront: Silicon Valley Tech At Wall Street Prices
Blake Ross: Wealthfront loves to paint itself as the anti-Wall Street, but it exploits the same achilles heel as its Manhattan cousins: Many people don’t have an intuitive grasp of the magic of compound interest, and so they certainly haven’t internalized the tyranny of compound fees. Then let us be clear: A 30-year old who invests $100,000 in his retirement with Wealthfront “for less than a night at the movies” will likely pay the company over $100,000 in fees by his 75th birthday.
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