This white paper was not prepared to be used, and it cannot be used, by any investor to avoid penalties or interest.Prospective investors should confer with their personal tax advisors regarding the tax consequences of investing with Wealthfront and engaging in these tax strategies, based on their particular circumstances.When Wealthfront says it replaces investments with "similar" investments as part of the tax-loss harvesting strategy, it is a reference to investments that are expected, but are not guaranteed, to perform similarly and that might lower an investor's tax bill while maintaining a similar expected risk and return on the investor's portfolio.Expected returns and risk characteristics are no guarantee of actual performance. You can consolidate multiple 401(k)s from previous employers into a single IRA account at Wealthfront. If you have an IRA account open and funded with us already, simply click the "Transfer / rollover" button on your dashboard.
Wealthfront assumes no responsibility for the tax consequences to any investor of any transaction.
Your friendly financial services firm could steer your IRA investments toward high-commission options such as mutual funds with sales fees, variable annuities and nontraded real estate investment trusts.
Investments that come with such built-in conflicts of interest make up more than 20% of assets held in IRAs, according to the White House Council of Economic Advisors.
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The gap may be even wider, since large-company 401(k) plans typically have access to ultra-cheap institutional funds.“You can consolidate your accounts.” Yes, you don’t want to leave old 401(k) accounts scattered behind you as you leap from job to job to job.