UBS Acquires Wealthfront for $1.4B
reuters.com
UBS Acquires Wealthfront for $1.4B
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Re: UBS Acquires Wealthfront for $1.4B
#2A lot of you likely invest in a boglehead style.
Wealthfront was an attempt to automate that while adding some bells and whistles on top; tax loss harvesting, smart beta, etc.
Curious to see how they succeed as part of UBS. I thought Marcus/Goldman was going to buy them personally, so a bit surprised UBS is getting in on this game.
Re: UBS Acquires Wealthfront for $1.4B
#3Wealthfront’s announcement: https://blog.wealthfront.com/wealthfront-has-agreed-to-be-ac...
Re: UBS Acquires Wealthfront for $1.4B
#4A lot of you likely invest in a boglehead style. Wealthfront was an attempt to automate that while adding some bells and whistles on top; tax loss harvesting, smart beta, etc. Curious to see how they succeed as part of UBS. I thought Marcus/Goldman was going to buy them personally, so a bit surprised UBS is getting in on this game.
Did anyone get any real beta out of it for a sustainable period?
Re: UBS Acquires Wealthfront for $1.4B
#5I'm honestly shocked at how primitive the big firms' offerings are. For example, JPMChase's bank account is smart enough to see a payroll deposit and give you a comment modal suggesting that you invest the money with JPM's investment platform (YouInvest/whatever)
Log into the investment platform and you're back in 1993. They literally have no drip-investment style offering. They want to charge you 100bps to "manage" your money, or you get a broken/buggy online broker with barely any functionality.
Why the heck isnt JPMChase buying one of these platforms?!?
Re: UBS Acquires Wealthfront for $1.4B
#6How much better has wealth front done vs SPY, fee adjusted?
Imho all robo advisers are a waste of money. If they were actually effective they’d use their own services themselves as opposed to sell them to retail.
The latest crop of businesses really are marketing value adds.
See: https://longbets.org/362/
Other people have done similar bets and they all lose on a risk adjusted, fee adjusted basis.
Re: UBS Acquires Wealthfront for $1.4B
#7Honestly surprised this is so low. Have they been doing poorly?
How does Betterment compare these days?
Re: UBS Acquires Wealthfront for $1.4B
#8A lot of you likely invest in a boglehead style. Wealthfront was an attempt to automate that while adding some bells and whistles on top; tax loss harvesting, smart beta, etc. Curious to see how they succeed as part of UBS. I thought Marcus/Goldman was going to buy them personally, so a bit surprised UBS is getting in on this game.
Marcus bought HonestDollar, which is in the same space, a while ago, and has rebranded it as "Marcus Invest"
* https://www.honestdollar.com/
* https://www.marcus.com/us/en/invest
Re: UBS Acquires Wealthfront for $1.4B
#9How much better has wealth front done vs SPY, fee adjusted? Imho all robo advisers are a waste of money. If they were actually effective they’d use their own services themselves as opposed to sell them to retail. The latest crop of businesses really are marketing value adds. See: https://longbets.org/362/ Other people have done similar bets and they all lose on a risk adjusted, fee adjusted basis.
These investing middlemen have all been obviated by automation. No one is beating the 0.03% to 0.15% expense ratios for index ETFs/Target Date Retirement Funds from Vanguard/Schwab/Fidelity.
Re: UBS Acquires Wealthfront for $1.4B
#10I wish the US had something better than Plaid to track various account balances. That’s all I use Wealthfront for, now UBS owns all the data and has my logins.