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.
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.
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.
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.
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.
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