How to Delete a Wealthfront Account Easily
If you are into investments, you probably have a Wealthfront account. Wealthfront is one of the most popular robo-advisors in the market you can use to invest. However, there might come a time when you have to close your account due to reasons like underperformance.
Deleting a Wealthfront account can be overwhelming, especially if you're closing for a deceased loved one or your investment account. For instance, you probably have to contact Wealthfront customer service, which might take longer than expected to respond. DoNotPay can help you delete your Wealthfront account with ease. Follow the steps below, and we'll handle the rest for you.
Reasons to Delete a Wealthfront Account
Many people with Wealthfront accounts prefer deleting their accounts due to the risk associated with this platform. Some of the dangers that Wealthfront has warned its accounts holders are as follows:
- Market risk
Wealthfront warns its users about a potential market risk due to various aspects outside their control like unforeseen economic development, change in interest rates, demographics, or social events. So, if you suspect that any of these factors might affect your investment, it's advisable to do away with your account.
- Advisory Risk
Wealthfront has no guarantee in its investment approach to produce your intended income. Factors like loss of internet access, computer failure, and other events can affect their advisory service, which in turn translates to a potential loss of your investment. Therefore, with the possibility of losing your investment and with no compensation, you might be compelled to close your account.
- Software Risk
Again, Wealthfront advises their users against the possibility of software risks. Even though they put their software under rigorous development, design, and monitoring, you cannot hold them liable for any losses incurred.
You can learn more about other risks associated with Wealthfront before you decide to do away with your account.
Regardless of your reason to close your Wealthfront account, you need a reliable partner who can efficiently help you complete this process. DoNotPay offers a simple and easy alternative method that you can use.
How to Delete Your Wealthfront Account by Yourself
The process to delete your Wealthfront account depends on the type of account you have. There are three types of Wealthfront accounts you can delete. These accounts include:
- Your cash account
- Your investment account
- A deceased relative account
Depending on the type, here are the ways you can delete Wealthfront account by yourself:
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How to Delete Your Wealthfront Cash Account
Closing a Wealthfront cash account is similar to closing your bank's checking account. Closing this account has no fees or penalties. To delete your Wealthfront cash account, follow these steps:
- Transfer your savings from your Cash account to your externally-linked account.
- Withdraw your final interest payment.
- Contact customer service through online forms or service phone number.
- If you fill in the form, customer care services will email you to confirm your request to close the account. Reply to the email to confirm your request.
How to Close an Investment Account
Here are steps to delete your Wealthfront investment account:
- Liquidate and transfer your cash to your linked bank account or an Automated Customer Account Transfer Service.
- Confirm your account closure. You can still access documents and statements for tax purposes, but you cannot make further trading with the account.
How to Close a Deceased Loved One’s Wealthfront Account
If you're an executor, you're most likely responsible for closing your loved one's account. In this case, follow these steps:
- Contact Wealthfront customer service.
- Gather the required documentation: death certificate, proof of executorship, and a valid Identification card.
- Write a letter instructing Wealthfront about your loved one's account.
- Mail the documents to Wealthfront physical address; Wealthfront Corporation, 261 Hamilton Ave, Palo Alto, CA 94301.
- Contact customer service and confirm your account closure.
Delete Your Wealthfront Account With DoNotPay
You don’t have to go through the time-consuming process. DoNotPay offers a simple way to delete your Wealthfront account. All you have to do is follow these 7 easy steps:
- Go to Delete Old Accounts product on DoNotPay.
- Select the type of account you are trying to delete, such as email, streaming service, social media, gaming, eCommerce, and more.
- Tell us more about your account, including usernames and associated emails / phone numbers.
- Help us verify your account ownership by entering the date you first created the account, when you last logged in, any payment methods saved under the account, etc.
- Upload photographic evidence if you have any that can help prove your account ownership.
- Enter any last known or previously used passwords.
- Enter your contact information and submit the task!
DoNotPay Works Across All Companies With the Click of a Button
DoNotPay can help you delete other online accounts apart from your Wealthfront account. We can help you delete the following:
Reasons Why You Should Use DoNotPay to Delete Your Wealthfront Account
There's no better option when it comes to deleting a Wealthfront account than DoNotPay. With our easy-to-follow steps, you can certainly complete this process all at the comfort of your home. Sign up today, and let's get started.