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It's a fair concern. Both Wealthfront and Betterment are Broker dealers and they have legal obligations in the event of going out of business.

Wealthfront spells it out as: "In the unlikely event Wealthfront were to cease doing business, your account would be held by our brokerage partner until you transferred your account to a new broker or chose to liquidate your account to receive a check."

https://support.wealthfront.com/hc/en-us/articles/211004083-...

If their companies go under, it shouldn't affect your assets- that's not part of their balance sheet. You can move then elsewhere after they flame out, and have paid only 25 bps for a few years in the meantime.

This is the same concern I had, though it's important to point out that if you had money in Betterment/Wealthfront and they went under, it would just be an inconvenience as you'd retain your investments.

buffet's advice will work for some 30 year horizon just fine.