The name Wealthsimple isn’t an understatement. The company’s customer service, tools, and vision can be summarized into this name. Wealthsimple takes investing, savings, and crypto; strips out all the complexities, and makes it simple for you to build wealth.
Wealthsimple is a must-have financial tool to add to your arsenal. As of February 2021, Wealthsimple’s assets under management have been valued at $8.4 billion, and its online investment management tools have won multiple awards. Check out some of their services!
Wealthsimple Invest was the first product the company unveiled at launch. It’s one of the world’s leading Robo advisors (This simply means that investments are managed by AI with moderate to minimal human intervention.) Signing up for the service is fully online and there is no minimum account balance. This is great for students, novice investors, or individuals who are interested in investing.
After signing up, the next step is to choose your risk level. If you can’t tolerate risky investments and losing money, choose a portfolio that leans more into safer long-term investments. However, if you choose a high-risk portfolio, returns can be higher though there is a chance you can lose money. The safest bet is to look at your investments as a long-term solution to build wealth. Read more about Wealthsimple invest here.
Wealthsimple Trade is for those DIY investors that like to pick their own investments. Currently, this is the only commission-free trading platform in Canada. Similar to Robinhood (One of the most popular trading apps in the US), Wealthsimple trade comes with an intuitive app that has the most popular stocks. Signing up is easy and there is no minimum account balance. This is amazing, considering how expensive trading used to be. Read more about Wealthsimple Trade here.
Wealthsimple Crypto allows you to trade Cryptocurrencies (commission-free) within the Trade app. There is a section in the app that is dedicated to trading cryptocurrencies. Money that you deposit can be used to buy Crypto, ETF’s and Stocks. Read more on Wealthsimple Crypto here.
File your taxes with Wealthsimple Tax in a simple convenient way. The service is free and if you already use any other Wealthsimple product, all you have to do is log in. Wealthimple tax is one of the easiest way to file for personal taxes in Canada. Read more about the platform here.
Wealthsimple cash allows you to send money to your friends and family in a convenient simple to use app. It also offers one of the best savings in Canada, with an interest rate of 0.75%. The service is free without monthly account fees on deposits or withdrawals; sending and receiving money; and savings.