UBS, Wealthfront Cancel $1.4B Deal

Re:UBS, Wealthfront Cancel $1.4B Deal by kibibyte on Saturday September 03, 2022 @02:30AM (#32699324)

My experience is that they usually complicate your taxes. In particular, past a certain asset threshold, Wealthfront will do something called "direct indexing", which basically invests your money in individual stocks the way an ETF would. It has TLH benefits, but at the cost of a massive 1099-B that you have to deal with every year.

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Re:UBS, Wealthfront Cancel $1.4B Deal by hedora on Saturday September 03, 2022 @02:53AM (#32699424)

Wealthfront has a turbotax import option. You tax accountant can press it too.

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Re:UBS, Wealthfront Cancel $1.4B Deal by JumpCrisscross on Saturday September 03, 2022 @04:10AM (#32699807)

> Wealthfront has a turbotax import option. You tax accountant can press it too

Two issues: complexity of return and efficiency of turning pre-tax into post-tax income. Wealthfront is good at the former. It's half decent at the latter for moderate income levels. Above some threshold between $500k and $2mm, it's not the best.

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Re:UBS, Wealthfront Cancel $1.4B Deal by bombcar on Saturday September 03, 2022 @03:07AM (#32699489)

And if you do all your dirty work in an IRA or other privileged account, nobody cares.

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