Wealthsimple Invest / Managed and Self-Directed Investing for Canadian Residents

Wealthsimple review quick take: An investment platform helping Canadians maximize returns, lower taxes, and build wealth.

What is Wealthsimple?

Wealthsimple Invest is a Robo-advisor using algorithms to recommend an investment portfolio that fits your risk tolerance, current financial situation, and time horizon.

Wealthsimple Investments Inc. is a member of the Canadian Investment Regulatory Organization (CIRO). Customer accounts held are protected by CIPF in the event the company becomes insolvent.

Choose how you want to invest and start today.

How Wealthsimple Works

First, you must open one or more of the following:

• A non-registered account: no tax advantages
• Registered Retirement Savings Plan: a tax-advantaged retirement account
• Tax-Free Savings Account: invest and save tax-free
• First Home Savings Account: Save for a downpayment and keep any gains tax-free

Then, you can choose to invest in two ways:

1. Managed Investing

Wealthsimple diversifies your investments to minimize risk and maximize returns using tax-efficient funds. The Robo-advisor helps you choose a risk level you’re comfortable with to build your custom portfolio based on your financial goals.

With Managed Investing, you get:

• In-house investment team customizes a portfolio to suit your risk tolerance and goals
• A diversified portfolio consisting of a range of asset classes across markets
• Access investing opportunities without the high fees

Portfolio Options

Get expert-designed custom portfolios that are professionally managed and tailored to your goals.

• Classic portfolio: Built for long-term growth in fluctuating markets with a range of low-fee ETFs.
• Socially responsible investing: Invest in do-good companies with social impact on the environment, climate, and more.
• Halal Portfolios: Invest according to your faith with a Shariah-compliant ETF (e.g., no investments in companies associated with alcohol, gambling, etc.)

2. Self-Directed Investing

A low-fee investing platform for Canadians that allows you to take full control of your trades.

With the Self-Directed Investing, you can:

• Start trading instantly with no account minimums
• Buy and sell thousands of commission-free stocks, fractional shares, and ETFs
• Automatically reinvest your dividends

Choose how you want to invest and start today.

Key Features

• Auto-deposits: automate your contributions and automatic deposits.
• Dividend reinvesting: instantly put your stock dividends back to work.
• Automatic rebalancing: rebalances portfolio as the market changes so will your portfolio allocation.

Pricing & Fees

As your wealth grows, so do the benefits you receive.

• Core: $1 in assets, 0.5% in management fees for managed accounts
• Premium: $100,000 in assets, 0.4% in management fees for managed accounts, get financial check-ins with an advisor
• Generation: $500,000 in assets, 0.2-0.4% in management fees for managed accounts, get comprehensive financial planning with a dedicated advisor

Pros and Cons

Pros

• Easy account setup
• No minimum deposit
• Low management fees

Cons

• No advisor access for accounts under $100,000

Who is it best for?

Wealthsimple is best for Canadian investors who want a robust investment platform with robo-guidance and access to financial advisors.

Choose how you want to invest and start today.

Wealthsimple Review

Wealthsimple is a legitimate company and service for Canadian residents. The Robo-advisor shines with its all-in-one design that merges investing and wealth creation with ease. The investment management service can appeal to new and experienced investors alike. The minimum investment of $1 makes it almost too easy to start and take advantage of the many features and benefits offered.

In researching our Wealthsimple reviews, the online brokerage is rated 4.6 out of 5 stars in the App Store with over 124,000 reviews sharing great customer experience; however, it has a bad rating on Trustpilot shared by users upset with not receiving bonuses.

Wealthsimple review conclusion: A smart investment platform and personalized advice to build long-term wealth.

How to Start Investing with Wealthsimple

Minimum Requirements

• Be 18 years or older
• Canadian resident

Step-by-Step to Open a Wealthsimple Account

The time needed: 5 minutes.

1. Get started
   • Create an account by clicking this link.
2. Enter your information 
   • Provide your personal information for verification.
3. Portfolio Options verification
   • Share your financial goals, why you’re investing, and your time horizon.

Wealthsimple Alternatives

For US residents, the Wealthsimple alternative is Betterment and Wealthfront.

To find more alternatives, visit the marketplace.