Why it stands out: You'll only need $500 to start investing with Wealthfront. Once you meet the minimum requirement, you'll get access to an array of investing accounts, fee-free hybrid savings and
checking accounts
, retirement accounts, portfolio lines of credit, 529 college savings plans, and more.
At Wealthfront, you can also take advantage of investment strategies and financial planning tools provided by a team of PhDs, and investment accounts include automatic portfolio rebalancing and tax-loss harvesting (tax-loss harvesting is a strategy that saves you money in taxes by replacing failing investments).
What to look out for: Before investing with Wealthfront, remember that you'll need $500 to begin, and there won't be any fee discounts for higher balances. In other words, the 0.25% annual fee applies to all account balances. Another thing to consider is that your investment options are limited to ETFs.