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Wealthsimple Online Stock Broker Review


ConsumersAdvocate.org Rating: 4.1 / 5 (Excellent)
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Wealthsimple is an online investment management service designed to help investors of all ages and financial backgrounds meet their financial goals. The company operates as a robo-advisor, aiming to provide low-cost, resourceful services for investors through their personalized, digital portfolios. Wealthsimple is based in Toronto, Canada and was founded in 2014.
 
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How is Wealthsimple rated?

Breakdown

4.3/5
Investment Products
4.0/5
Features
3.9/5
Pricing and Fees
4.1/5
Customer Support and Reputation

Overall Rating: 4.1 / 5 (Excellent)

Wealthsimple is an automated investment management service, also known as robo-advisor, that helps young, new, and seasoned investors balance investment portfolios online with access to human money experts to answer your questions. Wealthsimple also has an mobile app in which investors can login and access portfolios at any time. Fees start at 0.5% of account balance, which is comparatively higher than other robo-advisors, such as Betterment and Acorn, but customers can start with an account balance of $0, which is unique for investment portfolios. Fees also decrease to 0.4% if the investor upgrades to Wealthsimple's Black portfolio, which requires a higher balance of $100,000 but includes more features like VIP airline access. Wealthsimple is a young service, only four years old and operating for only two years in the United States. Financial advisors are available whenever needed via live chat, and customer service via phone during business hours. Customers can easily sign up online to start an investment portfolio, which is comprised of low-cost exchange traded funds (ETFs). Wealthsimple provides tax-loss harvesting service for all US clients. Overall, Wealthsimple is a considerable choice for investors who can benefit from its no-minimum account balance requirement, and can choose investments that align with their beliefs and values.

Wealthsimple Features

Features - 4 / 5

Mobile App
Yes

Financial Advisors

Financial advisors are available to customers whenever needed. Wealthsimple does not outline or state if additional charges are applied, but specifies training and financial planning sessions from financial advisors only in the upgraded portfolio, Wealth Black.

Wealthsimple Fees and Commissions

Pricing and Fees - 3.9 / 5

Fees (Additional Info)

Account Management

Wealthsimple Financial Strength and Customer Experience

Customer Support and Reputation - 4.1 / 5

SIPC Membership
Yes
Trust Pilot Rating
7.1 out of 5
Contact Methods
Phone
Email
Date Collected
2018-11-13

Company Profile

Full Name
Wealthsimple Online Stock Broker
Company Website
https://www.wealthsimple.com/en-us/
Headquarters
860 Richmond Street West, Toronto, Ontario

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