Wealthsimple

Avg. Rating: 5.0 (2 reviews)

Wealthsimple is a Canadian online investment management service. They are known as a robo-advisor and can help you invest on auto-pilot. Wealthsimple invests your money in a globally diversified portfolio of low-cost index funds, and their cutting-edge technology helps you earn the best possible return, while optimizing your tax bill. This includes things like automatic rebalancing, dividend reinvesting, and tax loss harvesting — services that were only available to the ultra rich until now.

Wealthsimple also offers Cash, Savings, Tax and Trading services.

  • TIME IN BUSINESS: Since 2014
  • # OF CUSTOMERS: Over 20,000
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1-866-767-7017

support@wealthsimple.com 860 Richmond St West, 3rd Floor, Toronto, ON M6J 1C9
Call Center: Mon - Fri: 9:00AM - 6:00PM
Support Offered:
  • Phone Support
  • Email Support
  • Social Media
  • FAQ's
  • Online Support Center
  • Blog
Availability: Canada, USA, United Kingdom

Products Offered

Below are all the products offered by this company.

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

 

 

 

 

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?

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.

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 Products and Services Does Wealthsimple Offer?

Wealthsimple offers online investment management service as well as cash, savings, tax and trading services.

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.

Can I Signup to Wealthsimple Online?

Yes, you can signup to Wealthsimple online by visiting their website.

Which Areas is Wealthsimple Available in?

Wealthsimple is available all over Canada, in the US and United Kingdom.

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.

What is the minimum investment on Wealthsimple?

Wealthsimple has no account minimum - you can start investing with as little as $1.

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.

Wealthsimple Reviews

Avg. Rating: 5.0 (2 reviews)
Easy to use

Really love Wealthsimple. It's super easy to use and the user interface and experience is very intuitive.

Pamela
Great for side income

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.

Harpreet

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