For beginners it's great, set and forget. Brian Hallam. WealthSimple Invest is a decent place to start if you are new to investing. Wealthsimple is my top choice for automated robo-advisor investing and it offers the only commission-free online discount brokerage service in Canada (Wealthsimple Trade). Seeing that you're around that mark and disgruntled makes me think I should lower my milestone. In jurisdictions of Canada other than Québec, WDA is registered as a restricted dealer. I had mine setup there 100% equity ETF's within my RRSP, so growth would have been good over time. Doughroller. So if I deposit $20, all $20 of it gets invested. It will build a portfolio according to your specifications, but it tends to be over-conservative, in my experience. One thing that sparked my interest in WS again is their new WS Trade app, which offers no fees buying and SELLING. Wealthsimple Review: The Safe And Simple Robo-Advisor. Wealthsimple definitely got me started with investing and I learned a ton from their websites. Personally I like it. Bishoy Annes . I like that, Robos are great training wheels. (wealthsimple.com), submitted 16 hours ago by ZenNoah to r/referralcodes, Free $10 managed when you deposit and trade $100 with WealthSimple trade! Wealthsimple definitely got me started with investing and I learned a ton from their websites. r/Wealthsimple_Trade: Wealthsimple Trade: commission-free stock trading for Canadians. Hot New Top. Wealthsimple is not a member of IIROC nor a member of CIPF. Reviews from the experts. Easy to use, the Trade app needs some work but it works for me. I'd highly recommend it for automatic contributions from your paycheque. Their portfolio is well diversified enough. 2020-01-21. I can't think of anyone to whom I would recommend a robo advisor over an all-in-one ETF (e.g. I used it to build long-term savings and ended up with about $104,000.00 by the end. Log in to Wealthsimple to grow your money like the world's most sophisticated investors. The people who know how to use it are often just as old. “The most outstanding feature for many Wealthsimple customers is the access to an actual human for support or advice.” NerdWallet “Wealthsimple has made its value proposition appealing. 9.2/10 Rating. I can only deposit $20 a paycheck, so I have to wait for my next 1 to start. However, as Canadians become more aware of their investments and more driven towards ensuring that their investments better reflect their values, there has been an increased interest in responsible investing. I'm not super keen on investing large dollar amounts with them because of the 0.5% fee. PM me your phone number (Canada). Apple App Store. Growth depends on how you setup your portfolio. $1. 17/10/2020. With any investment, your capital is at risk. Users can buy both ETFs and individual stocks. COBOL is a coding language older than Weird Al Yankovic. But there's no shame in being with robos, so long as your $$ is not big. Underlining this is its simple but proven investment methodology that, given time, will set anyone up for the future. I have been using WealthSimple for a month now. Wealthsimple, or WS for short, is a Canadian-based financial services firm that burst on the scene after the robo-advisor revolution.. 15 July 2020 19:02; 24 votes 2 comments Mint Support. And it can’t be removed. Hot New Top Rising. Wealthsimple Trade is a separate entity under the Wealthsimple platform but offers some of the same benefits of its ETF-only counterpart. Minimum deposit to open. Here’s what was especially interesting to us: during the period from February 3rd to February 7th, Tesla accounted for roughly 40% of all USD trading volume on Wealthsimple Trade. How Wealthsimple Works. You can always fix that through their website or by emailing them. New comments cannot be posted and votes cannot be cast, More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Looks like you're using new Reddit on an old browser. How a computer language controls the financial life of the world. The people who know how to use it are often just as old. 23/10/2020. Wealthsimple is the smartest and easiest way for everyone to invest their savings. Wealthsimple Review 2020: Pros, Cons and How It Compares. Apex is a member of the Securities Investor Protection Corporation (SIPC), which provides funds to meet claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims. 4.5 star ratings. read Robo-advisors like Wealthsimple and Acorns have been surging in popularity recently with low fees, simplicity, convenience, and modern apps … PM your phone number (Canada) (wealthsimple.com), submitted 19 days ago by vernacollins1962 to r/referralcodes, COBOL is a coding language older than Weird Al Yankovic. That said, they're 2% HISA is not great, not terrible, so I'm parking my savings in alterna now that I don't use them anymore. Both of these work exactly as you'd expect - easy to use apps, deposits and withdrawals take a few days, function as expected. Then when I amass $40, I can only invest $23(if the price hasnt changed) of that $40, meaning I have some chump change doing nothing. RateHub. Wealthsimple Magazine, February 12, 2020 And then on to the bad behaviour (masochist activities). © 2020 reddit inc. All rights reserved. $10,000 managed free with Wealthsimple Invest! (wealthsimple.com), submitted 21 days ago by speckz to r/coding, submitted 21 days ago by speckz to r/programming, submitted 22 days ago by vernacollins1962 to r/referralcodes. 14 July 2020 17:17; 64 votes 0 comments Stop Orders Launched. 6. pinned by moderators. Wealthsimple US, Ltd. is registered as an investment adviser under the Investment Advisers Act of 1940 and uses Apex Clearing Corporation as broker/dealer for Wealthsimple investment accounts. Learn more about how we make money.Last edited February 27, 2020. Risk level was 6 - so medium - it was very easy to change this setting as well. If you are new to Wealthsimple or don’t have much information about them – Wealthsimple is one of the best auto-pilot investment companies in Canada. Log In Sign Up. Then I got sent down a rabbit hole and kept learning so much that I just wanted to buy my own funds and lower fees even more. Fee's are percentage based. This makes it easier for dollar cost average investors. Then using VEQT etf(fee is .2 vs .5+all the etfs fees in your WS portfolio) as its diverse enough for me. Very painless experience and because I had over 100K with them, they reduced my fees and gave me a free one year airport lounge pass, which I believe I can still use even after having pulled it all out. Nice and simple application for Stock Exchange. Get $5 from Wealthsimple Cash. (my.wealthsimple.com), Get $5 from Wealthsimple Cash. Get a constantly updating feed of breaking news, fun stories, pics, memes, and videos just for you. If the withholding tax is worth paying vs. the currency exchange fees etc. Last Updated on: May 8, 2020 by Sagar Sridhar Wealthsimple Trade is a Canadian commission-free stock trading platform. Press J to jump to the feed. Have a TFSA with WS and had a smart savings account (withdrew for a few large purchases and to move more into investments). The returns are before fees so if you decide to use WS you should subtract about .7% from the returns listed in the whitepaper. Excellent experience for a beginner like me. It underpins the entire financial system. Wealthsimple builds you a personalized portfolio using an award-winning investment strategy and employs smart technology to provide a secure, intuitive and affordable way to invest. This low-fee robo-advisor puts your money on autopilot to help bring your financial goals to life. Reddit gives you the best of the internet in one place. The value of your portfolio with Wealthsimple can go down as well as up and you may get back less than you invest. It was launched in 2014 and made available to U.S. clients on Jan. 31, 2017, after six months of beta testing. Wealthsimple's management fees are 0.5%. I recently moved out of Wealthsimple to Questrade (handling myself not their portfolio stuff) and I can really appreciate Wealthsimple more now. Wealthsimple saw … Still definitely works, but not nearly as good of an app. For me Wealthsimple is the holy grail I have been after. The firm was founded in September 2014 by Michael Katchen and is based in Toronto. . They have no fees to buy or sell anything (apart from a currency conversion fee). Amazing customer service, simple user interface, great company! (my.wealthsimple.com), Get $10 when you invest $100 or more with WealthSimple (my.wealthsimple.com), submitted 7 days ago by thegmanyk to r/referralcodes, submitted 7 days ago by vernacollins1962 to r/referralcodes, The Code That Controls Your Money (wealthsimple.com), submitted 8 days ago by issurvey to r/issurvey, Wealthsimple Trade is Canada's first $0 commission stock trading app – sign up now with code 2OO3G and we'll both get $10 to trade. Wealthsimple makes investing as streamlined and painless as possible by guiding users into a diversified portfolio. Prior to this, Wealthsimple offered third-party responsible investing ETFs. WS has only existed for about 5 years so you would only get answers about short term returns, which won't tell you anything about what your long term returns might look like. User account menu. XGRO). Wealthsimple Inc. is a Canadian online investment management service focused on millennials. Start earning passing income and invest in ETFS! Now that I got my feet wet and don't mind a little more managing, Im changing to QT becausing buying ETF are free. WASI is a member of the Mutual Fund Dealers Association of Canada and a member of the MFDA Investor Protection Corporation. 2020-01-15. I'm paying a fraction of the fees for returns nearly identical. Annual fee. card. r/Wealthsimple_Crypto: Wealthsimple Crypto is the simplest way to trade Bitcoin and Ethereum in Canada. Wealthsimple Review 2020: Investing, Saving, and Spending Made Easy. I was with Investors Group for years, paid out a ridiculous amount in fees over the years and now I'm with WealthSimple. Questrade is the undisputed choice of online brokerage for active traders who want to save on fees while getting access to robust market data and research capabilities. Wealthsimple_Crypto r/ Wealthsimple_Crypto. Wealthsimple vs. Acorns Robo-Advisor Comparison (2020) Last Updated: October 7, 2020 No Comments – 6 min. That fee drops to 0.4% when you deposit more than $100k across your Wealthsimple accounts. Press question mark to learn the rest of the keyboard shortcuts. Passionate about something niche? advice, as and when required. It is the subsidiary of Wealthsimple – an auto-pilot investment firm. By Nicholas Say July 2, 2020 There are a lot of new Robo Advisers out there. ETF MER was about .11% for me in my RRSP. PM your phone number (Canada). Simple and straightforward. Ive had a TFSA being managed by a guy my dad knows and he gives us a crazy 0.5% fee rate because our whole family works with him, but I decided I also wanted to try a robo advisor and put an equal amount into a wealthsimple TFSA to see how they compare. 2020-01-23. Start earning passing income and invest in ETFS! Reddit has thousands of vibrant communities with people that share your interests. M1 Finance vs. Wealthsimple – Summary and Conclusion. Wealthsimple Trade is Canada's first $0 commission stock trading app – sign up now with code 2OO3G and we'll both get $10 to trade. It's essentially set and forget since you can set monthly deposits and the robo will do the allocations, The "only slightly higher" really shows up over time if you look at the % lost in 25 years. use the following search parameters to narrow your results: and join one of thousands of communities. Reason I left though was the fee was starting to bug me. This is in addition to all the other benefits and perks you enjoy when you utilize their online investment … by Desirae Odjick | Jul 10, 2019 | Investing, Tools | 9 comments. As of August 2019, the firm holds over C$5 billion in assets under management. Last updated: Nov 8, 2020. I'm not there yet, but I feel your pain. It underpins the entire financial system. As of June 16, 2020, Wealthsimple has also launched its own responsible investing funds. Get $5 from Wealthsimple Cash. Not that it's complicated with Questrade per se but little things like figuring out the best ETF's to own for tax purposes in an RRSp vs a TFSA. Love it. Alternatively, find out what’s trending across all of Reddit on r/popular. With Wealthsimple, you can invest according to your values with our Socially Responsible Investing portfolio and Halal Investing portfolio. I wrote a separate review on Wealthsimple Trade which you can also read. If you have reached Step 5 of the PFC money steps and you have some money you are confident you won’t need for many years I suggest that you do a risk assessment questionnaire and then read this recent PWL whitepaper which outlines the potential long term average annualized returns and the "worst case scenario" short term returns. If play your cards right, you can easily get 10k managed free for the first year. That’s where I come in. Join. There's ups and downs with markets of course, and they seemed really good for beginners - sent out emails about when they re-balance, what they're doing, etc. It ensures my saving is automatic, allows me the option to change my investment strategy on a dime, and removes the guess work. $10,000 managed free with Wealthsimple Invest! In addition, there are $0 commissions by Wealthsimple and no minimum investment. Simple.Thrifty.Living. Honestly its personal preference. Rendered by PID 5350 on r2-app-054eef2f71a54eb08 at 2020-12-15 13:56:33.818173+00:00 running f3f285e country code: DE. Wealthsimple has diverse portfolio choices, clear pricing and unfettered access to a … If you want to stick with Banks, RBC InvestEase among others is another option offering Robo advisor services. My original plan was to stick with WS until my portfolio hits 100k, then think about managing it myself in Questrade. Get an ad-free experience with special benefits, and directly support Reddit. Would … Get $10 with my Wealthsimple Trade referral code. In a move that is presumably intended to make Wealthsimple a one-stop-shop for financial services, the company launched a no-fee hybrid savings and chequing account in January 2020… I started using WealthSimple Trade fairly recently. Wealthsimple Technologies Inc. has taken a major step out from under the shadow of controlling shareholder Power Corp. of Canada, attracting … Fees are fine, they reshuffle your portfolio sometimes, the app is nice, and since I also I vest on ShareOwner I can go and see exactly the wealthsimple allocation through the site. Wealthsimple's promotional offer gives new clients a $50 cash bonus when they open and fund an account (investment or savings) with at least $500. And it can’t be removed. You pay around $25 for each 10000 at questrade vs $70 for each 10000 at wealthsimple, Growth: depends on your risk level. card classic compact. I have been using WealthSimple(WS) and Questtrade(QT) for over 2 years. By Peter Anderson 2 Comments-The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). 2020 Top Robo-Advisor. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. While it works, the app was clearly rushed. Find out more Go to site 0.5%. Wealthsimple is a Canadian company that was founded in 2014. Also much better than paying 2% for mutual funds at the banks. PM me your phone number (Canada) (wealthsimple.com), submitted 3 days ago by vernacollins1962 to r/referralcodes, Get $10 with my Wealthsimple Trade referral code. But for people who aren’t nerdy about investing and just want to start and have minimal work to do, they are perfect. Rising. Like others have said, growth is relative to risk of portfolio. They combine an innovative and thoughtful approach to technology with outstanding human (this is key!) Wealthsimple Crypto is made available through the Wealthsimple Trade app. Canadian citizens can … But for people who aren’t nerdy about investing and just want to start and have minimal work to do, they are perfect. Also much better than paying 2% for mutual funds at … Wealthsimple was founded in 2014 by CEO Michael Katchen and has since grown to managing over $3.2 billion. I actually ended up pulling it all out for a property down payment a couple weeks ago and I had made a gain of 7.1% - happy with that, since I was aware I could lose some money, plus the fees were something I was willing to swallow given that I had never invested before. Get $10 when you invest $100 or more with WealthSimple. I’ve got roughly 2 million across my accounts with WS. It only works through the app right now, but it is very easy to use. Known as a top-ten robo-advisor, the company focuses on providing largely automated financial services to customers in … I use it as a very low amount fix it and forget it savings/investing tool. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Wealthsimple is Canada's most popular robo-advisor with over 175,000 clients and more than $5 billion in assets under management. There are a lot of Wealthsimple reviews out there, but many of them lack one thing: A reviewer who has personally used them for almost four years. Already had my first dividend payout, sweet :). Paying them about $40 a month didn't sit well with me, considering I can do mostly the same thing with Questrade for about $4 a month. WealthSimple requires no minimum deposit to start investing and you can make whatever size deposit, this I like because I can put down every cent in investing. How a computer language controls the financial life of the world. As the pandemic rages on, and government stimulus winds down, and more global lockdowns loom, we channel our anxiety into a desperate interrogation of Ben Reeves, Wealthsimple’s chief investment officer. I also have WS trade for a self directed TFSA that I use for less responsible investing. I personally mostly stopped using them, and now go with quest trade. M1 Finance offers free investing; plain and simple. Move away from the big banks to WealthSimple. So far, everything is great. Wealthsimple is a Canadian based robo-advisor that provides accounts to investors in Canada, the U.S., and the U.K. Wealthsimple is an automated investing service — or robo advisor — and the largest such service in Canada. Robos are great training wheels.... ands you can't go wrong with wealth simple and wealth bar. The returns have nothing to do with Wealthsimple, fees are low. Then I got sent down a rabbit hole and kept learning so much that I just wanted to buy my own funds and lower fees even more. .50% from wealthsimple + the MER of the ETF's. Free $10 managed when you deposit and trade $100 with WealthSimple trade! M1 Finance and Wealthsimple are both built for passive, long-term, buy-and-hold investing. Crystal Carswell. Some performance struggles, some strange customer journeys, and some oddities that would never have gone to market if they had taken the time they clearly needed. Wealthsimple Digital Assets Inc. (WDA) offers Wealthsimple Crypto to Canadians under time-limited registration and regulatory approach coordinated through the Canadian Securities Administrators' Regulatory Sandbox. Hot. In August 2020, Wealthsimple launched a cryptocurrency trading platform for its Canadian customers that is separate from the algorithmic trading platform. This community-run subreddit is for general discussion on the … With QT I have to wait until I amass whatever the asking price of the ETF im investing in. Press question mark to learn the rest of the keyboard shortcuts. Economic Freakout 2020: The ‘What Now’ Edition. I'm happy with WS and plan to stick with them for the longterm (FYI WS Black has reduced fees too). (my.wealthsimple.com), submitted 9 days ago by Morninmorning to r/promocodes, submitted 10 days ago by Morninmorning to r/CanadaReferralCodes, submitted 10 days ago by Morninmorning to r/Referral, submitted 10 days ago by vernacollins1962 to r/referralcodes, submitted 12 days ago by vernacollins1962 to r/referralcodes, submitted 15 days ago by bil-sabab to r/longform, submitted 15 days ago by bil-sabab to r/InterestingArticle, submitted 15 days ago by bil-sabab to r/Longreads, submitted 16 days ago by vernacollins1962 to r/referralcodes, Get $5 from Wealthsimple Cash. Fees: only slightly higher than if you manage your etf portfolio yourself at questrade. I love what they do and really starting a trend in this country and I’ll support them any way I can. Starting out these fees are minuscule so it's a good place to start, they make everything very easy. It has grown to be the biggest robo advisor in Canada and has branched out into both the US and UK markets. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 5350 on r2-app-054eef2f71a54eb08 at 2020-12-15 13:56:33.818173+00:00 running f3f285e country code: DE. For example, I invest in VEQT etf and it cost $23 at this time. I liked WS when I was a beginner because I had very little disposable income so I could start investing with chump change. UI and tools are also state of the art - really liked their round-up feature as well as the auto-savings thing where they will pull an amount over a certain level from your main bank account each month and automatically invest it.