Wealthsimple Review 2018 | Automated Investing With Human Advice

Wealthsimple Review

Wealthsimple Review

Company Overview: Wealthsimple

With offices in Toronto, New York and London, Wealthsimple provides automated, long-term investment management without the high fees and account minimums associated with traditional investment managers. Wealthsimple invests your money in a globally diversified portfolio of low-cost index funds modeled after the same Nobel Prize-winning research used by the world’s savviest investors. Wealthsimple uses its cutting-edge technology to help you earn the best possible return on your money, while also lowering your tax bill. Wealthsimple is Canada’s largest robo-advisor. Wealthsimple also offers access to its team of human financial advisors.

Wealthsimple Overview

Wealthsimple offers attractive rates and terms compared with other top online robo-advisors:

Account Minimum: $0

Commission: 0.40% – 0.50% annually
– 0% for $0 – $5,000 balance
– 0.5% for < $100,000 balance
– 0.4% for > $100,000 balance

Portfolio Mix: Portfolio of low-cost, diversified ETFs from 16 asset classes

Account Types: Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, Roth IRAs, SEP IRAs and trusts

Portfolio Rebalancing: Yes

Tax Loss Harvesting: Yes

Account Fees: $0 maintenance fees; $0 transfer fees

How Wealthsimple Compares: Key Benefits Of Wealthsimple

Here are some of the reasons that investors love Wealthsimple:

  • Automated: Wealthsimple is a robo-advisor and therefore does all the investment work for you. You don’t have to manage your investments. Wealthsimple does all the heavy lifting using technology.
  • Portfolio: Wealthsimple a portfolio of 16 ETFs that are low cost and diversified.
  • No Commissions: Wealthsimple only charges one annual fee based on the size of your investment portfolio. Therefore, there are no commissions.
  • Customer Support: Wealthsimple offers 24/7 email customer support. Wealthsimple also offers live phone support Monday-Friday.

Bottom Line: Is Wealthsimple right for you?

Wealth simple has a top reputation as a robo-advisor.The best feature of Wealthsimple’s platform is its $0 account minimum and no fees for automatic rebalancing or tax loss harvesting. There are also no commission on trading or transfers, which can save money relative to traditional online stock brokers if you are an active trader.

While the annual fees may be higher than other robo-advisors, you get qualify for a lower annual fee of 0.4% if you maintain a balance of at least $100,000.

Wealthsimple also offers socially-conscious and Shariah-compliant options for investors. You can even purchase fractional ETF shares, which is not permitted at other online stock brokers.

You will also gain access to Wealthsimple’s team of human financial advisors. Wealthsimple believes that the best financial advice comes from both technology and human advisors. As such, you have access to Wealthsimple’s team of financial advisors for a 15-minute phone call to review your financial plan, including your retirement plan.

Next Steps: How To Apply To Wealthsimple

You can open a Wealthsimple account online within a few minutes, and the process is simple.


The Best Robo-Advisors 2018

Robo-Advisor
Annual Fee

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 16 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Customer support: M-F 8 a.m. – 8 p.m. EST; email 24/7

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 12 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Customer support: 7 days a week
  • Unlimited access to licensed financial advisors

Overview

Account Minimum:$500

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 11 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Unlimited access to licensed financial advisors

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 9 asset classes
  • Free automatic portfolio rebalancing
  • Customer service: M-F 11 a.m. – 7 p.m. eastern

Overview

Account Minimum:$5,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 20 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting for accounts with a minimum $50,000 balance
  • Free access to licensed financial advisors
  • 24/7 customer support

Overview

Account Minimum:$50,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolios are individualized and incorporate Vanguard index funds and ETFs, if needed
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting on client-by-client basis
  • Access to licensed financial advisors
  • 24/7 customer support

Overview

Account Minimum:$100,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Access to financial advisors

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