Wealthsimple is a Canadian online investment management service. They are known as a robo-advisor and can help you invest on auto-pilot. Wealthsimple also offers Cash, Savings, Tax and Trading services.
Contact information
support@wealthsimple.com- 860 Richmond St West, 3rd Floor, Toronto, ON M6J 1C9
Availability:
Canada, USA, United KingdomSupport Offered:
- Phone Support
- Email Support
- Social Media
- FAQ's
- Online Support Center
- Blog
Call Center:
Mon - Fri: 9:00AM - 6:00PMProducts Offered
Below are all the products offered by this company.
Investing
How It Works:
Invest in an intelligent portfolio of low-fee funds that are designed to meet your financial goals.
Diversifying your investments means you can minimize risk while maximizing rewards. Wealthsimple will invest your money across the entire stock market using Exchange Traded Funds (ETFs).
Wealthsimple will help you choose a risk level you’re comfortable with, then build a custom portfolio based on your financial goals.
Pricing:
Basic: $0 – $100,000 Invested, there is a 0.7% fee
Black: Deposits $100,000+ there is a 0.5% fee.
Generation: For deposits of $500,000+, there is custom pricing.
All plans also have a 0.2% fee for ETF Purchases
Benefits:
Personalized portfolio
Expert financial advice
Auto-rebalancing
Auto-deposits
Dividend reinvesting
Tax loss harvesting
Savings & Cash Account
How It Works:
Wealthsimple Cash: One zero-fee, do-everything account. Save for your short-term goals and earn 0.9% interest. It’s ta great account to build an emergency fund and save for a vacation or down payment.
You can withdraw cash from ATMs across Canada — and send money instantly with e-transfers and bill pay.
Pricing:
Wealthsimple doesn’t charge you fees so you keep more money in your pocket.
- No monthly account fees
- No low balance fees
- No foreign exchange transaction fees (Coming soon)
Benefits:
The Wealthsimple card is made from Tungsten metal, which is one of the heaviest elements on earth, with a matte finish and spot gloss.
Reputable: More than 1 million people use Wealthsimple’s investing, saving, and tax products.
Safe: Everything is encrypted, Wealthsimple uses state-of-the-art data encryption when handling your information and two-factor authentication (2FA).
Powerful backing: Wealthsimple is backed by $265M in investment from some of the world’s largest financial institutions.
CIPF protected – Your accounts are held with Wealthsimple’s custodial broker, Canadian ShareOwner, and are protected within specified limits in the event of its insolvency by CIPF.
Frequently Asked Questions About Wealthsimple
What is Wealthsimple?
What Products and Services Does Wealthsimple Offer?
Wealthsimple offers online investment management service as well as cash, savings, tax and trading services.
Can I Signup to Wealthsimple Online?
Yes, you can signup to Wealthsimple online by visiting their website.
What Kind of Customer Support Does Wealthsimple Offer?
Wealthsimple offers phone and email support. They also have a Resources section on their site that features a portfolio review service, personal finance 101, investing master class and more.
How long does it take to withdraw funds from Wealthsimple?
Withdrawals from Wealthsimple can take up to 5-7 business days from the time they are requested to the time the money arrives back in your bank account.
Is Wealthsimple Safe?
Wealthsimple has been in business since 2014. Wealthsimple Inc. is a registered Portfolio Manager in Canada. Securities in your account may be protected through Canadian ShareOwner Investments Inc. Wealthsimple uses state-of-the-art data encryption when handling your financial information and two-factor authentication (2FA) protection.
What does it cost to use Wealthsimple?
For Wealthsimple's invest product there are 3 main packages. The Basic plan is for anyone who has between $0 - $100,000 Invested, and there is a 0.7% fee. The 2nd plan is called Black and it's for any deposits between $100,000+ there is a 0.5% fee. There is also a 3rd account called Generation which is for deposits of $500,000+, and this plan has custom pricing. All plans also have a 0.2% fee for ETF Purchases.
Which Areas is Wealthsimple Available in?
Wealthsimple is available all over Canada, in the US and United Kingdom.
What is the minimum investment on Wealthsimple?
Wealthsimple has no account minimum - you can start investing with as little as $1.
Wealthsimple Reviews
Avg. Rating: 5.0 (2 reviews)
Easy to use
June 23, 2020
“Really love Wealthsimple. It's super easy to use and the user interface and experience is very intuitive. ”
Great for side income
June 23, 2020
“I use Wealthsimple to manage a small portion of my overall investments. The fact that it's on autopilot makes it great from a time allocation perspective. I've seen a slow but steady growth with my investments over the last 2 years with them. ”
