I have a high interest savings account with Marcus by Goldman Sachs. They used to pay out 2.25% but lowered to 2.15% recently. There are a few big red flags about Wealthfront for me...
1.) They claim to offer FDIC-insured up to $1 million, yet on the official FDIC website, and as far as I understand they only insure up to $250,000 per account. How is $1M possible?
2.) With the 10 year and 2 year US treasury yields plumitting well below 2% today, I don't understand how wealthfront can continue to offer 2.57% without taking a loss.
1.) They claim to offer FDIC-insured up to $1 million, yet on the official FDIC website, and as far as I understand they only insure up to $250,000 per account. How is $1M possible?
2.) With the 10 year and 2 year US treasury yields plumitting well below 2% today, I don't understand how wealthfront can continue to offer 2.57% without taking a loss.