Wealthramp Review 2024: Pros, Cons and How It Compares

Wealthramp can help you find a financial advisor specific to your needs and your budget.
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Written by Alana Benson
Lead Writer
Profile photo of Pamela de la Fuente
Assigning Editor
Fact Checked

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Our Take

4.9

NerdWallet rating 

Reviewed in: Oct. 2023

Period considered: Aug. 2023 - Oct. 2023

The bottom line:

Wealthramp isn't a financial advisory firm — the company connects clients to vetted financial advisors. Advisors who are a part of Wealthramp's network are all fee-only fiduciaries, meaning your advisor won’t try to sell you products to make a profit.

Wealthramp
Fees
Varies by advisor
(free initial consultation)
Account minimum
$0
Promotion
None
no promotion available at this time
Learn more

on Wealthramp's website

AD

Paid non-client promotion

Pros & Cons

Pros

  • Advisors offer free initial consultations.

  • Access to a range of services, including investment management and financial, tax and estate planning.

  • No fee to use Wealthramp to find an advisor.

Cons

  • Difficult to know financial advisor fees upfront.

  • Most advisors require investment minimum of $100,000 or more.

Compare to Other Advisors

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Fees 

Varies by advisor

(free initial consultation)

Fees 

$2,000 and up

per year (free initial consultation)

Fees 

0.35%

management fee

Fees 

Up to 1%

per year

Account minimum 

$0

Account minimum 

$0

Account minimum 

$50,000

Account minimum 

$250,000

Promotion 

None

no promotion available at this time

Promotion 

Limited time $550 kick-start offer!*

Get $300 into your brokerage account if you invest & maintain $5k within your first 90 days, plus the $250 enrollment fee will be waived for new annual members. Expires Dec 31, 2024

Promotion 

None

no promotion available at this time

Promotion 

$250 off

one year of financial or tax planning

Learn more

on Wealthramp's website

Learn more

on Facet's website

Learn more

on Vanguard's website

Learn more

on Harness Wealth's website

AD

Paid non-client promotion

AD

Paid non-client promotion

AD

Paid non-client promotion

AD

Paid non-client promotion

NerdWallet doesn’t invest its money with this provider, but they are our referral partner – so we get paid only if you click through and take a qualifying action (such as open an account with or provide your contact information to the provider). Most importantly, our reviews and ratings are objective and are never impacted by our partnerships. Our opinions are our own. Here is a list of our partners and here’s how we make money.

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Full Review

Where Wealthramp shines

Hand-selected advisors: Wealthramp matches individuals with financial advisors who align with the user’s wants and needs. Advisors are personally vetted by Wealthramp CEO Pam Krueger.

It’s free to find an advisor: There is no fee for using Wealthramp to find an advisor.

Where Wealthramp falls short

No standard listed fee: Because each advisor has their own fee, you may not know exactly what you’ll pay until you contact the advisors.

Wealthramp is best for

  • Those unsure how to find or vet a financial advisor.

  • Those with assets over $100,000.

Wealthramp at a glance

Reviewed: Oct. 2023

Period considered: Aug. 2023 - Oct. 2023

Account minimum

None, but those with over $100,000 are typically best suited to Wealthramp’s advisor services.

Account management, planning or subscription fee

None from Wealthramp. Typical advisor fees:

  • 0.8% to 1.2% for accounts under $1 million; or flat fee of $1,500 to $10,000 per year.

  • 0.5% to 1% for accounts over $2 million.

  • One time fees: $750 to $10,000.

Setup or onboarding fee

None from Wealthramp, though some advisors may charge an initial planning fee of up to $2,500. This is almost always credited back to the client against the management fee.

Advisor access and credentials

Dedicated advisor you can meet with on an unlimited basis. You can meet with most advisors over the phone, Zoom, chat or in person. Many advisors are certified financial planners, CPAs or CFAs.

Financial planning services

Wealthramp can connect users with advisors who cover the full spectrum of financial planning. Specialized advisors can help you with investment services, divorce planning and stock options.

Investment expense ratios

Generally between 0.10% and 0.50%.

Portfolio construction

Highly tailored to meet the needs of each client.

Brokerage options

Wealthramp network advisors work with most major custodians, including Schwab/TD Ameritrade, Fidelity and Pershing.

Accounts supported

Taxable, IRAs, trusts, 529s, 401(k) management, workplace plans and small-business plans.

Tax strategy

All Wealthramp advisors offer comprehensive tax planning, including tax-loss harvesting. Some offer tax preparation and more complex tax strategies.

Customer support options (includes how easy it is to find key details on the website)

Wealthramp concierge customer support is available Monday through Friday, 8 a.m. to 5 p.m. ET via email, chat and phone. If you call, they will respond within 24 hours, even over weekends or holidays.

More details about Wealthramp's ratings

Account minimum: 5 out of 5 stars

Wealthramp has no account minimum, and the service can match consumers with any account balance. But the service does state that typically investors with $100,000 or more are best suited for Wealthramp’s advisors.

Account management, planning or subscription fee: 3 out of 5 stars

Like other advisor matching services we review, Wealthramp’s advisors have a variety of fee structures. These fees are based on your assets under management, a retainer or subscription fee, or an hourly or project-based fee. Here is the typical range Wealthramp advisors charge:

  • 0.8% - 1.2% for accounts under $1 million, or, a flat fee of $1,500 to $10,000 per year, depending on the service.

  • 0.5% to 1% for accounts over $2 million.  

  • Project-based and one time fees: $750 to $10,000, depending on scope.

Because you have to go through the quiz flow and enter your personal information in order to be matched with an advisor, it can be harder to compare Wealthramp’s advisor pricing with a service that lists a standard fee on its site.

The fees charged by Wealthramp network advisors who use an assets under management structure range from 0.8% - 1.2% for accounts under $1 million. A typical fee charged by advisors is 1%, though many online advisors charge less. To compare, Betterment Premium charges a 0.4% fee and provides unlimited phone access to certified financial planners.

There are no fees to use Wealthramp’s advisor matching service. Some advisors in Wealthramp’s network will pass on custodial or trading fees to the client, but Wealthramp says those fees are usually lower than one-tenth of 1%.

Setup or onboarding fee: 5 out of 5 stars

Aside from its account management fee, Wealthramp charges no other setup fees. Some Wealthramp network advisors charge an initial planning fee of up to $2,500, but that fee is usually credited against the management fee.

Advisor access and credentials: 3 out of 5 stars

Finding the right advisor can take a lot of time and effort, but Wealthramp’s founder and CEO Pam Krueger, an investor advocate and educator with over 25 years of experience, personally interviews each Wealthramp advisor candidate and decides who gets to join.

Wealthramp does the vetting for you, but the service lets you initiate contact with your advisor referrals. This way, your inbox won’t suddenly be flooded by potential advisors looking to work with you.

Because all of its advisors are vetted and work as fee-only fiduciaries (meaning they legally must operate in your best interest), you don’t have to spend time vetting their qualifications. After filling out an online survey, consumers are matched with up to three advisors. Clients are shown advisor profiles and have the opportunity to schedule a free meeting over the phone, Zoom, chat or in-person. Wealthramp will match you with an advisor who works in the area you need and who fits your preferences.

All of Wealthramp advisors work for registered investment advisories, and some hold top-tier credentials such as certified financial planners. You’ll work with a dedicated advisor (so you’re talking to the same person every time). Typically, you’ll meet with your advisor on a quarterly basis, but your access is unlimited, and you can schedule meetings on an as-needed basis.

» Want to compare options? See our full roundup of the best fiduciary financial advisors

Financial planning services: 5 out of 5 stars

Advisors in the Wealthramp network offer the full array of financial planning services, so Wealthramp can match you with an advisor best suited to your needs. Specialized advisors can help you with investment services, divorce planning and stock options.

Investment expense ratios: 2.5 out of 5 stars

An expense ratio is an annual fee charged by mutual funds, index funds and exchange-traded funds, as a percentage of your investment in the fund. If you invest in a mutual fund with a 1% expense ratio for example, you’ll pay the fund $10 per year for every $1,000 invested. If high, these fees can significantly drag down your portfolio returns. Wealthramp network advisors typically recommend funds with expense ratios between 0.10% to 0.50%.

Portfolio construction: 5 out of 5 stars

Wealthramp's advisors can help you with both passive and active investing strategies. Wealthramp's network of advisors includes specialists in socially responsible investing and other alternative investment classes.

Brokerage options: 4.5 out of 5 stars

Wealthramp network advisors work with major custodians, including Schwab/TD Ameritrade, Fidelity and Pershing.

Accounts supported: 5 out of 5 stars

Wealthramp's advisor network can offer expertise for various kinds of accounts, including taxable, IRAs, trusts, 529s, 401(k) management, workplace plans and small business plans.

Tax strategy: 5 out of 5 stars

According to Wealthramp, all of its network advisors offer comprehensive tax planning, including tax-loss harvesting. Some offer tax preparation, which means you could offload doing your taxes to a firm that’s already familiar with your financial situation (but there's usually an extra charge for that service).

Advisors have varying fees, so there isn’t a set price you pay for tax help. According to Wealthramp, a client who has $300,000 in investable assets can expect to pay about $2,500 to $3,000 a year for ongoing planning and investment advice. But what you pay will depend on the complexity of your tax situation, and your location.

Wealthramp says all of its advisors include tax planning in their financial advice, but the network also has advisors with specialized tax expertise in areas such as equity compensation, tax-efficient retirement saving and withdrawal strategies, and tax-efficient wealth transfer.

Customer support options: 4 out of 5 stars

Wealthramp concierge customer support is available Monday through Friday, 8 a.m. to 5 p.m. ET via email, chat and phone. Wealthramp also has a toll free number you can call and they will respond within 24 hours, even over weekends or holidays.

Is Wealthramp right for you?

If you’re looking for an advisor and don’t want to spend your time researching them, Wealthramp could help you with that. Similar to Harness Wealth and Zoe Financial, Wealthramp doesn’t charge a fee to match you with a financial advisor.

If you’re just looking for investment management, a robo-advisor could also be a good option. Robo-advisors use algorithms to build and manage an investment portfolio for you. Some even offer tax strategy and access to financial advisors for no additional charge.

» See our picks for the best robo-advisors

How do we review financial advisors?

NerdWallet’s comprehensive review process evaluates and ranks companies that provide financial planning services online or connect users to a financial advisor. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across 14 factors. The final output produces star ratings from poor (one star) to excellent (five stars).

For more details about the categories considered when rating brokers and our process, read our full methodology.

Learn more

on Wealthramp's website