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Wealthsimple has only been around since 2014, and it is already Canada’s largest financial robo-advisor service. It launched into the US on January 31, 2017 and is expecting a dramatic increase in the uptake of its services, commensurate with the massive potential of the US market.
Compare with Betterment and Wealthfront.
Wealthsimple’s staff is made of up world-class financial advisors, software engineers, designers and data scientists, many of whom have experience working for companies such as Apple, Google and Amazon. The company boasts offices in Toronto, London and New York.
Considering for a financial planner? Take a look at SmartAsset, which is free to use.
The numbers continue to climb but as of Quarter 3, 2019 Wealthsimple has over $5 billion (CAD) in assets under management and more than 175,000 clients. Wealthsimple touts itself as a socially responsible investment option.
Overall, Wealthsimple’s services will perform well for small and new investors, as well as for investors with more than $100,000 to spend.
Compare top Robo-Advisors with SuperMoney
Current Wealthsimple Promotion: $10,000 Managed For Free
Once you’re a Wealthsimple client, you can start making referrals and get $10,000 in assets managed for free for 12 months for each friend who joins and funds an account from your referral link. Your Referrals will also get $10,000 in assets managed for free for 12 months as well.
You can invite your friends and family to Wealthsimple by visiting the Invite area when logged in.
If you’re on mobile, tap the “Earn Rewards” button in your account overview to invite friends.
Competitors Betterment and Wealthfront are also offering some good promos.
Wealthsimple Trade $10 Cash Bonus & $10 Per Referral (up to $1,000)
- To qualify for a $10 sign-up bonus you must register via a referral link from a current Wealthsimple Trade member (we don’t currently have a personal referral link to share. Current users are welcome to leave your referral details in the comments section below).
- Deposit and trade at least $100 worth of stock.
- Once the above requirements have been met you’ll receive a $10 cash reward deposited into your Wealthsimple Trade account.
Once you have an active Wealthsimple Trade account you can earn $10 per qualified referral, up to $1,000 in referrals.
Wealthsimple Free Managed Assets Offers
Here are ways you can get more managed assets for free:
- Referral program: $10,000 managed free (for both parties)
- Transfer an account: $10,000 managed free
- Turn on auto-deposits: $1,000 managed free
- Get the mobile app: $100 managed free
Summary Of Wealthsimple
Wealthsimple’s standout feature lies with its socially responsible investment option which deposits client’s money into morally and socially responsible organizations and enterprises. This option helps clients to feel good about their investments while making money from them. It is definitely the company of choice for those investors who want to make certain types of morally based investment decisions.
*My Investments Disclosure
I’m constantly tweaking my investment strategies as I gain more insight and as investment options evolve. Below is my current lineup.
- Thinkorswim platform from TD Ameritrade. This is the desktop platform I currently use to trade
Forex, Futures and EquitiesOptions. My strategies are always evolving but my main focus currently is on selling Put Options. - Vanguard funds. As the great Warren Buffett recommends, I invest a good portion into an S&P 500 index fund directly with Vanguard. Most of my investments here are in the VOO Vanguard S&P 500 ETF. With an Expense Ratio of just 0.04%, this is a great way to diversify and save a great deal on fees. I’ve also decided to diversify further with the total stock market, investing in the VTI ETF with Vanguard.
- Wealthfront. If you’re a good number of years before reaching retirement, many finance experts suggest going with a robo-advisor. With so many good reputable robo-advisors on the market, I decided on Wealthfront based on their track record, client reviews, and because I’ve been able to waive all management fees through their referral program.
- Fundrise. I wanted to have an alternative to stocks and bonds, and decided to dip my toes in the private real estate arena with Fundrise. I’m not all-in on this strategy just yet, and only have a small account open.
- Online Savings. This is how I store my emergency funds. The best online Savings accounts will provide much better rates than your traditional big banks will. Rates aren’t quite as good during this current macroeconomic environment. Click the link to compare the nation’s best rates.
- Bitcoin and cryptocurrency. This is simply for fun and I can’t recommend this option to anyone with all the unknowns. I’m currently not so optimistic on cryptocurrencies.
Truth is, it’s hard to say which one robo-advisor is the best in the market. Most are using many of the same ETFs and other investment options in their portfolios. Void of any major dips or crashes in the market, most will average a yearly return of 8-11%. Just about all the big brokers have their own robo-advisory service so you may opt to simply go that route if you’re already a client with them. Otherwise, consider your projected investment capital and match that with the robo-advisor that will save you the most on fees. I review many of the other automated investment options below. See the list of the current best Robo-Advisors here.
- Acorns Promotions: $300 For 3 Referral(s) Bonus In February 2021
- M1 Finance Promotions: Up To $4,375 Bonus, $10-$30 Sign-Up/Referral Bonuses
- Betterment Promotions 2021: 1 Year Free Investing & Referral Bonuses
- Best Robo-Advisor Promotions And Offers For 2021 (Automated Investing)
- DiversyFund Review: Real Estate Investing For Everyday Investors
- Donut Crypto Saving & Investing App Promotions: $10 Sign-Up Bonus & $10 Referrals
- Wealthsimple Promotions: $10,000 Managed For Free
- Personal Capital Review 2021: Robo-Advisor For Higher Deposits
- Coinrule (coinrule.io) Review: Easy Automated Cryptocurrency Trading
- Fundrise Promotions & Offers | Real Estate Robo-Advisor
- SuperMoney Review 2021: An Easy Way To Compare Financial Products
- Vanguard Personal Advisor Services Review (Hybrid Robo-Advisor)
- Wealthfront Promotions: $5,000 Managed Free + $5,000 Per Referral
- Facet Wealth Review: Virtual Financial Planning For A Flat Fee
- Masterworks Review 2021: Invest In Fine Art For As Little As $20 A Share
| OFFER LINK | OFFER | OUR REVIEW |
| Chase Business Complete Banking℠ | $300 Cash | Review |
| Chase Total Checking® | $200 Cash | Review |
| Bank of America Checking | $100 Offer | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| TD Bank Convenience Checking℠ | $150 Cash | Review |
| HSBC Premier Checking | $450 Cash | Review |
| HSBC Premier Checking | Up To $600 | Review |
| HSBC Advance Checking | $200 Cash | Review |
| HSBC Advance Checking | Up To $240 | Review |
| Aspiration Checking | $100 Cash | Review |
| Ally Invest | Up To $3,500 | Review |
| Betterment | Up To 1 Year Free | Review |
| TradeStation | $100 Cash | Review |
| BlockFi | Up To $250 BTC | Review |
Feel Free To Use My Wealthsimple Referral Code: GGMQFQ
Thanks 🙂