Open Letter to Wealthfront:
Congrats Wealthfront. You’ve done a great job outlining your value proposition. Your features and price point are compelling enough that I’ve moved a large portion of my investments from Charles Schwab to under your management.
But now, just days after making the move, you’ve turned from a savvy investment adviser into an annoyingly needy friend — no matter how much money I give you, or how many friends I introduce to you, you keep pestering me for more:
The most significant call to action in every email you send me is less about providing value to me, than it is about me providing value to you.
In addition, a the sidebar of my “dashboard” is devoted to reminding me how I’ve not done a good enough job giving you money, or bringing you more customers:
You’ve already got my money. Showing that you’re grateful for it, and providing true value will win you more of it, and my friends’, than constantly pestering me for either.
[Update — 8/15/15]
In a fantastic show of respect, Wealthfront CEO Adam Nash responded personally to this post — in less than 4 hours. He acknowledged that while his team felt the messaging was ultimately helpful to their clients, that there may be room for improving the frequency, priority and relevancy.
It meant a lot that the leader of Wealthfront would reach out, and that my concerns were validated and will be taken under consideration.
I hope Wealthfront’s messaging changes in the future in both tone and frequency, but even if it doesn’t, it’s heartening to feel like feedback is heard, and welcomed.