Why do you want to work at wealth Simple?
Professional Tone:- I want to work at wealthsimple.com because it is a leading online financial services company that offers a simple and convenient way to manage my finances. The company's mission is to help people save and invest money in a smarter way, and I believe that I can help contribute to this goal.
Can I trust Wealthsimple? Yes, Wealthsimple is trusted by over a million investors, is backed by prominent venture capital investors and is regulated in Canada and the U.K. These factors coupled with its nearly 17 years of operation make Wealthsimple a trustworthy broker for U.K. and Canadian residents.
Wealthsimple: Your money's worth more.
Wealthsimple Inc. is a Canadian online investment management service. The firm was founded in September 2014 by Michael Katchen, Brett Huneycutt, Som Seif, and Rudy Adler and is based in Toronto.
- No Margin Account Offering on a Wealthsimple Trade Account.
- Currency Conversion Fees.
- Not Able To Short Stocks.
- No RESP Offering.
- No 24/7 Support.
- Desktop Platform Can Be Glitchy.
- No Expert Review On Wealthsimple Tax.
- No Overdraft On Wealthsimple Cash.
IGM, which is controlled by the Desmarais' Power Corp. of Canada, is the largest shareholder in Wealthsimple with a 24% interest. Other parts of the Desmarais empire also own stakes, as do venture firms such as TCMI Inc., better known as TCV, and Greylock Partners.
If there's no satisfactory response, you may file a lawsuit. Given that WealthSimple is based in Ontario, the lawsuit would typically be filed in the province where the company is headquartered, which means you might need to sue them in Ontario.
Wealthsimple is on a mission to help everyone achieve financial freedom by providing products and advice that are accessible and affordable. We take financial services that are often confusing, opaque, and expensive and make them simple, transparent, and low-cost.
Some of the best alternatives for Wealthsimple in the US include Acorns, Betterment, Wealthfront, and eToro which offer comparable features and benefits.
Wealthsimple Work
WSII is a member of the Canadian Investment Regulatory Organization (“CIRO”). Customer accounts held at WSII are protected by Canadian Investor Protection Fund (“CIPF”) within specified limits in the event WSII becomes insolvent.
Where is Wealthsimple headquartered?
Wealthsimple is headquartered in Toronto, 80 Spadina Avenue, 4th Floor, Canada, and has 2 office locations.
Who can open a Wealthsimple account? Wealthsimple is only licensed to open Canadian accounts for residents of Canada.
Your Wealthsimple Self-directed Investing account is an account (offered by Wealthsimple Investments Inc.) that allows you to buy and sell stocks and ETFs with no trading commissions. Wealthsimple Investments Inc. offers a self-directed platform and doesn't offer any financial advice or recommendations.
Pros & Cons Explained
Wealthsimple offers commission-free stocks and ETFs. However, there are other fees such as a 1.5% currency conversion fee in Wealthsimple Trade. Customers can upgrade their Wealthsimple Trade accounts to the Plus version for $10 a month.
Customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at (www.cipf.ca). In the extremely unlikely event that Wealthsimple were to go out of business, your account would remain safe.
Wealthsimple Trade
Like Robinhood, Wealthsimple offers no trading commissions, no account maintenance fees, and no minimum deposits to open an account. You'll also get a sign-up bonus simply for opening an account and making a cash deposit.
Our team of over 600 employees works collaboratively to build the best possible experience for our clients, and then make it even better — we ship fast, then improve it.
Wealthsimple is an example of fintech.
No, but we are a FINTRAC-registered money services business, and we work closely with banking partners to keep deposits safe. This means we can offer a lot of the same perks and conveniences of traditional chequing and savings accounts.
Frequently asked questions
All registered accounts (such as a TFSA or RRSP) must be registered with the CRA. In order to register these accounts with the CRA, we require your SIN.
Is your money safe in Wealthsimple?
Our affiliated custodial broker for crypto clients, Wealthsimple Investments Inc., is a member of the Canadian Investment Regulatory Organization (CIRO) which means the cash balance held within customer accounts is protected by the Canadian Investor Protection Fund (CIPF) within specified limits.
Specifically, the funds in your Cash accounts (including joint Cash accounts) are placed in trust with up to five tier 1, CDIC-member, regulated Canadian financial institutions. As such, CDIC protection against the failure of these banks extends to Wealthsimple Cash account holders for up to $500,000 CAD.
A bank isn't any place you put money. A bank is an institution that has a licence that allows it to carry out certain business activities, like accepting chequing and savings deposits and making loans. Wealthsimple, for instance, is not a bank.
Existing Wealthsimple clients automatically receive Wealthsimple Black status once their net deposits reach $100,000. Your fees will be adjusted to the lower 0.40% rate. You should also get an email within a week of crossing the $100,000 mark with more details about Wealthsimple Black perks.
There are many robo-advisors in Canada including Wealthsimple, Nest Wealth, Wealthbar, Justwealth, and ModernAdvisor. Here's a little information about each Canadian robo-advisor.
