There are many options to start investing your money and build wealth. And with these growing options, it's important to find the investing platform that works for you.

What is Wealthsimple?

Wealthsimple wants to keep investing simple for you. It's an automated investing service founded in Canada and offered in the United States. Wealthsiple currently serves 65,000 clients and has over $1.5 billion in assets under management.

With Wealthsimple, you get long-term investment management accounts with no minimums. Your money is invested in a diversified portfolio of low-cost index funds. Additionally, Wealthfront offers investors socially responsible investment offerings.

Wealthsimple Offers

It's a well-known trope that 99.99% of investors can't beat the market by picking stocks. Wealthsimple tracks the market as a whole and gives you a diversified portfolio. With low-cost index funds, you get to keep more of your money. They use proprietary technology to reduce the cost of traditional investment accounts.

Wealthsimple Basic Features Include:

  • The first $5k is managed free
  • Auto deposits and rebalancing
  • Tax-loss harvesting
  • Dividend reinvesting
  • Personalized portfolio
  • Human financial advice

How to Get Started With Wealthsimple

It takes 5 minutes to start building your personal portfolio and put your money.

Wealthsimple's assesses your risk profile through a short questionnaire. Then, you're offered a portfolio mix base on your goals, risk tolerance, investment experience, and time horizon.

What are the Costs?

Wealthsimple offers $0 account minimum making it easier for beginner investors. Your first $5,000 is managed for free and after that, there is a 0.5% management fee. With their upgrade product, Wealthsimple Black (accounts over $100k), the management fee is reduced to 0.4%.

Wealthsimple does not charge fees on transfer, trading, and tax-loss harvesting which can set it apart from other online investing platforms.

What Differentiates Wealthsimple?

Wealthsimple focuses on socially responsible investment options. These investments are with exchange-traded funds that focus on companies working to reduce carbon emissions, promote gender diversity, and invests in clean-tech in developing countries.

Wealthsimple offers halal investing portfolio.

These are a portfolio that complies with Islamic law. This means no companies that profit from gambling, alcohol, firearms, or other restricted industries are permitted. These investments are screened by a third-party committee of Shariah scholars.

Wealthsimple offers fractional shares of ETFs

Your money is invested instead of sitting in a cash fund. When you're money is in a cash fund with an investing company, you're most likely earning very low interest. This typically happens when you don't have enough to buy the entire fund, therefore, money is kept in the cash fund until you do.

Wealthsimple offers access to financial advisors

If you need help, you can have a 15-minute phone call to go over your investing questions. With most robo-advisors or discount online brokerages, you typically do not have any access to a person to keep their costs low which means lower fees for you.

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