Wealthramp Review 2024: Pros, Cons and How It Compares

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. There is no fee for using Wealthramp to find an advisor.

Advisors with tax expertise: Many financial planning services we review can help investors implement generic tax strategies such as tax-loss harvesting — but Wealthramp advisors often go further. Some offer services such as tax preparation, tax-efficient retirement planning and tax-efficient wealth transfer planning.

Where Wealthramp falls short

Who should choose Wealthramp?

People who want a traditional advisor: Unlike some other companies we review, Wealthramp is not an automated financial planning services provider. It's a platform that matches clients to dedicated human advisors. If you want a relationship with an advisor, but don't know how to find or vet one, Wealthramp may be a good choice.

People with complex financial planning needs: Wealthramp's traditional advisors may be a better source of specialized financial advice — for example, divorce planning — than other financial planning services we review, which tend to be more one-size-fits-all.

Wealthramp at a glance

Reviewed in: Oct. 2024.

Period considered: Aug. 2023 - Oct. 2024.

What to know about Wealthramp's account minimum and fees

There is no account minimum to use Wealthramp's services. 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.

There are no fees to use Wealthramp’s advisor matching service.

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.

Wealthramp's advisor access

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 Wealthramp advisors work for registered investment advisories. They also either hold top-tier credentials such as certified financial planners, certified public accountants and chartered financial analysts, or have at least 10 years of relevant experience. 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.

Wealthramp's financial planning services

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.

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.

The expense ratios for investment services may vary from advisor to advisor.

Other key Wealthramp features

Accounts supported

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. Their advisors work with several major brokerage custodians, including Schwab/TD Ameritrade, Fidelity and Pershing.

Customer support

Wealthramp concierge customer support is available Monday through Friday, 8 a.m. to 5 p.m. Eastern time 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. Its website is fairly easy to navigate.

Tax strategy

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. 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.

Good to know about Wealthramp

Your mileage may vary between advisors

One of the things that makes Wealthramp special is that it provides dedicated, human financial advisors, rather than automated services and an online dashboard. However, that personal touch could be a double-edged sword.

Wealthramp works hard to match clients with advisors who are a good fit for their financial situation, but it's hard to account for personality — which can be important in a long-term financial advisory relationship. Wealthramp does most of the vetting work for you, but only you can determine if you'll get along with a particular advisor, and feel comfortable enough with them to let them manage your finances.

If you're not a people person, or if establishing that kind of rapport sounds daunting, a more hands-off service such as a robo-advisor may be better for you.

Is Wealthramp right for you?