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2023 Wealthsimple Review: Everything You Need To Know

Wealthsimple is based in Canada. Wealthsimple wants to make investing and personal finance easy and accessible for everyone. They have grown to manage over $5 billion of investments. Their success has been attributed to their commitment to their clients.

The investment firm acts like a hybrid between a robo-advisor and an actively managed fund. The investment plan it provides uses aspects of both automated and human-driven strategies. The service offers access to real investment advisors who can answer all of your questions, but the investments themselves are automated. You can get personalized advice from the advisors based on your individual investment goals and risk tolerance.

Wealthsimple is available in Canada and the US, but some features may not be available in other countries. Wealthsimple plans to launch in the UK this summer and is working on bringing its services to other countries around the world.

Is Wealthsimple a Good Investment?

Wealthsimple has a variety of investment options that can be tailored to your needs. You can easily make the best decisions with automated advice.

Your returns will be different depending on which risk profiles you choose. Before making any major investment decisions, it’s a good idea to seek advice from a financial advisor.

How do you know what it looks like in the real world? It’s the best way to understand how something looks in the real world.

Luckily, Wealthsimple has reported on the investment performance of each level of risk:

  • Conservative Portfolio Performance – 16%
  • Balanced Portfolio Performance – 17.7%
  • Growth Portfolio Performance – 23.5%

The data doesn’t go back very far because Wealthsimple has not been around long. Valuable insights into investing trends can be found in the data available. The data spans from January 30, 2017, to December 31, 2019. Valuable insights into consumer behaviors and market trends can be found in this report series.

Despite the short time frame, it is encouraging to see strong returns for all three portfolios. Even in the short-term, careful and strategic investing can be rewarding. The percentage increases with the level of risk, which is what you would hope to see. It is important to be aware of the level of risk that you are taking on when investing because higher risk investments come with higher returns.

If you look at each of the performance reports linked above, you can see which ETFs you are investing in. Taking the time to research each of these ETFs and their individual performance can help you make an informed decision when choosing which portfolio is best for you. We have a lot more history on the Vanguard funds.

For example, the main stock fund in Wealthsimple’s portfolios is VTI (one of the most popular ETFs), and we can see from Vanguard’s website that $10,000 in VTI would have more than tripled in the past ten years.

Wealthsimple Plans

Wealthsimple has three different plans based on how much you invest. Features in each plan are designed to help you reach your financial goals.

All of the benefits below it are included in each plan as you move up the ladder. Here’s a quick rundown of what you need to qualify for each plan, plus the benefits of each:

Wealthsimple Basic

This plan is the most basic one Wealthsimple offers. It can be used to invest in the stock market. You don’t have to deposit a certain amount to qualify because there is no minimum. You can deposit as much or as little as you want.

There is an account for portfolios of $0 to $100k. Please contact our team for a tailored investment solution for portfolios over $100k. The basic plan does not have any additional features. You may want to upgrade to a different plan if you want more features. Still, you’ll get access to useful features through the Wealthsimple platform, such as:

  • Tax-loss harvesting
  • Automatic rebalancing
  • Dividend reinvesting
  • Automated deposits

The Basic portfolio gives you a bit of value. It can give you the chance to learn and develop your investing skills.

Wealthsimple Black

The Black portfolio is for investors with $100k to $500k. The Black portfolio has expert advice, personalized financial planning, and priority support to help you maximize your investments.

The management fee dropped from 0.50% to 0.40% immediately. Over the long-term, this can result in significant cost savings. It can be significant if it’s a small difference. Changes to your spending habits can have a big impact on your future finances.

You will be given the chance to sit down with one of Wealthsimple’s advisors for a financial planning session.

Another benefit is lounge access through the Priority Pass. Free snacks, beverages, and other amenities are included in the lounge access. If you travel a lot, this can be a nice perk. Depending on the airport, you may be able to get away from it all.

Wealthsimple Generation

If you have made it to this point, you must be doing something right. Wealthsimple’s most premium service is for investors with $500,000 or more in their portfolios.

The human interaction is going to go up because of the management fee at this level. To make sure you are getting the best possible service, the team is available to answer any questions you may have.

Rather than just one financial planning session, you will gain access to a dedicated team of financial advisors who will help you build a custom portfolio. A team of financial advisors will help you create and manage a portfolio that is tailored to your individual financial goals.

You’ll also get the following:

  • Personalized financial forecasts
  • Custom portfolios
  • VIP lounge access

wealthsimple plans

Risk Profiles

You can choose from conservative, balance, or growth risk profiles when you invest with Wealthsimple. Wealthsimple can help you maximize your returns with their low-cost investing options.

The mix of stock and bonds affects the risk levels. Investing in a mix of stock and bonds can help to reduce risk and possibly provide higher returns. Here’s how they look:

  • Conservative: 65% bonds/35% stocks
  • Balance: 50% stocks/50% bonds
  • Growth: 80% stocks/20% bonds

Some investors prefer a certain percentage of stocks in their portfolios. Other investors may be looking for less risky portfolios with a higher proportion of bonds. The point is that your options are limited. If you want to maximize your potential for success, you may need to take a calculated risk. There is a greater level of granularity in other managed portfolios. This will allow investors to meet their goals and risk tolerances with their investments.

It is nice to have a level of choice.

Asset Classes

Depending on your risk profile, the asset classes of the stocks in which you are invested vary. Understanding the different asset classes can affect your portfolio performance. Most of the asset classes are present in all portfolios. Real estate and alternative investments can not be included in some portfolios.

US Treasury Inflation-Protected Securities are not included in the growth portfolio. While bonds are a more stable asset class, they provide a lower return over time. Those looking for higher returns may be better off investing in stocks.

Value-Based Investing

You can use value-based investing with Wealthsimple. Wealthsimple offers a unique approach to investing, with the ability to tailor and design your portfolio based on your individual values. This style of investing can be a draw for many people. It is becoming an attractive option for people who want to make their money work for them.

The idea of earning the best return has traditionally been the focus of investing. It is important to understand the risks and rewards associated with any given investment in order to make the most out of it. Investing in a way that meshes with your values is what value-based investing is all about. This type of investing allows you to make choices that align with your beliefs while also potentially achieving good returns on your investments.

Socially Responsible Investing

Wealthsimple has a choice of socially responsible investing. Socially responsible investing allows investors to put their money into companies that align with their values. Socially responsible investing is about creating a more sustainable world.

Specifically, Wealthsimple’s socially responsible portfolio invests in stocks with the following qualities/values:

  • Low Carbon
  • Environment
  • VIDI – Human Rights
  • Cleantech
  • Government Securities

Depending on whether you choose a balanced, conservative, or growth portfolio, the percentage in which you’ll be invested in these different types of stocks changes. How much risk you are willing to take will affect the percentage of your portfolio allocated to each type of stock.

Halal Investing

Wealthsimple has other forms of value-based investing. Muslim investors use Sharia-compliant investments to create a portfolio that is in line with Islamic values of justice and compassion. If you are not familiar with this style of investing, you are missing out. Sharia law is a system of Islamic religious laws.

The principles of Islamic law are followed by Muslims. Derived from the Quran and the teachings of the prophet Muhammad, Sharia law is a set of moral and legal principles. Muslims are the fastest-growing religious group in the world, so it makes sense to have investments that are compatible with their faith. It is important to understand the needs of Muslim investors as their numbers continue to increase.

Sharia law forbids profiting from debt. Social justice and fairness are emphasized by the law. All bonds are excluded because bonds are a form of debt. Any investments in companies that are involved in activities deemed to be religiously impermissible is not allowed. A lot of bonds and bond funds are used to reduce risk.

Wealthsimple Features

Many people ask, “How Good is Wealthsimple?”, well, here are some features that make it stand out amongst the crowd:

Wealthsimple Portfolio Review

They offer a free portfolio review. This is a great way for investors to get started with the company, as it will give them an understanding of their financial situation and allow them to make more informed decisions about their investments. If you have other investments as well, they will review them as well.

Broad Range of Investment Options

They have a wide range of investment options, including value-based investment portfolios. Depending on your goals and risk tolerance, you can speak to a financial advisor about the best investment options for you. It’s possible to find a portfolio that works best for you. It’s important to remember that there is no ‘one size fits all’ approach to portfolio management, so it’s worth taking the time to find the strategy that works best for you.

If you feel overwhelmed, their portfolio review can help. tailored advice can be provided by the team of experts at the firm.

Automatic Rebalancing

Another nice feature is automatic rebalancing – a feature which many robo-advisors have, but it’s nice to know you won’t have to go in and manually rebalance your portfolio. It is always in sync. Everyone has access to the same information.

Access to Financial Planners

Wealthsimple gives you access to financial planners. Regardless of your level of financial knowledge, Wealthsimple makes it easy to start investing. If it is the reason for the slightly higher fees, they are reasonable. The fees may be a bit expensive for some people. Portfolio managers have historically charged small fees.

Free Portfolio Management

Even if you don’t have an active portfolio with Wealthsimple, you can still get free portfolio management. Anyone looking to save time and money on managing their investments should consider Wealthsimple.

The answer to the question “How good is Wealthsimple?” depends on your needs. Before you make a decision, you need to research and assess if Wealthsimple is the right fit for you. Its fees are more than you would pay to manage your own portfolio. If you’re looking for professional advice and guidance to help you make the right decisions for your financial future, investing with a financial advisor can be worth the cost.

It can be useful for people who find investing a bit overwhelming. Even for beginners, the company’s platform is easy to use.

Can you Lose Money on Wealthsimple?

You can lose money on Wealthsimple, but it’s not as important as it is for any other form of stock market investing. Past results are not a guarantee of future returns. Wealthsimple’s portfolio will be invested in funds from popular investment firms. We will make sure that your investments are spread across multiple asset classes and sectors.

You can lose money in the short term when the stock market dips. Long-term investments in the stock market often perform better than other types of investments. However, 100 years of stock market history show us that it has always recovered and then went higher than it was previously.

broadly-diversified funds minimize risk as much as possible. This will help protect your investments from market fluctuations. If your risk tolerance is lower, you may want to look for a lower-risk portfolio. A financial advisor can help you determine the best portfolio for your individual risk tolerance and goals. Short-term losses will be less if you have a less risky portfolio. Balanced against your risk tolerance and overall financial goals, you can build a portfolio with a mix of high-risk and low-risk assets.

How Much Does Wealthsimple Cost?

Fees are the biggest downside to Wealthsimple. The higher fees can be a deterrent for some investors. Although there are no fees to use the service, they charge management fees. The fees are designed to cover the cost of providing reliable access to the service. It can have a big impact on your portfolio in the long run. By investing regularly and consistently, you can benefit from the power of compounding returns.

Some would consider these fees high with ultra-low-cost index funds out there. Many investors are looking for index funds with the lowest fees in order to maximize their returns.

Real people manage these funds, so they are on the low end. The investments are well-researched and managed with care. Nowadays, there are several different ways to invest:

  • Manage Your Own Portfolio
  • Use a Robo-Advisor
  • Invest in an Actively-Managed Fund

Each option requires less work on your part as you go down the list, but the fees are usually higher as well. It is wise to consider the trade-off between how much work you are willing to put in and how much money you are willing to pay for a particular service before making a decision.

Wealthsimple has a core product, but it is between the second and third options. It has more personalization than a traditional robo-advisor. As such, fees are slightly higher than some competitors have, but you do have comprehensive support any time a question arises

Pros & Cons of Wealthsimple


  • Customizable Portfolios
  • Great Customer Service
  • Invest Based on Your Values


  • Higher Fees
  • No Goal Tracking
  • Certain features only available in US & Canada

So, Is Wealthsimple A Good Idea?

The investment strategy provided by Wealthsimple is great for the beginner investor. It’s a great option for experienced investors who want to do their own research and monitoring on their own. conservative, balanced, and growth are the different portfolios it has. The individual investor can make the best decisions for their own financial future with the tailored portfolio.

Each one of its portfolios uses a mix of bonds and Exchange Traded Funds that are broadly diversified and have shown a history of success. The portfolios are tailored to maximize returns and minimize risk by taking into account investor’s risk tolerance, time horizon and other factors.

You will get automatic rebalancing, great customer support, and options for value-based portfolios. Since the platform is regulated by the Financial Conduct Authority, you can rest assured that your investments are in good hands.

At 0.5%, Wealthsimple has higher management fees than other robo-advisors, but you get access to financial planners and free portfolio reviews. Wealthsimple is an attractive option for those looking to get the most out of their investments. Other robo-advisors may be cheaper, but they don’t usually have these features. Tailored advice that is tailored to your individual needs is not provided by many of them. You get what you pay for when you pay a bit more. When you pay more, you can be sure that you are getting quality products and services.

Wealthsimple is a great system for someone who is just starting out with investing. It’s easy to use and offers helpful resources for beginners.

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