The company has a strong track record of managing clients’ funds. Similarly, Wealthsimple Trade clients are limited to certain stocks and ETFs, without access to bonds, international equities, precious metals and many other asset types offered by other discount brokers. The funds you invest with Wealthsimple are held by Canadian ShareOwner Investment Inc. which is a member of CIPF. However, rest assured, your money is safe. You can funnel your earnings into a Wealthsimple Cash* account through direct deposit, and then access the account online to make no-fee bill payments, Interac e-transfers, or move your money to a TFSA, RRSP or other investment account. Via a ticket wealthsimple confirmed it was canceled and we called the bank to suspend the action. Gemini custodial service is heavily regulated by the New York State Department of Financial Services. Clients make their transactions over a mobile app (there is no Web version) and can currently hold their portfolios in just three account types: personal (non-registered), TFSA or RRSP. After my first week I’m up 79% I wound up with a Trade account and before I discovered that I did not need another self-managed trade account I had sent $10000 there for a try out. Wealthsimple is a solid robo-advisor platform with a wealth of features, but its high management fees and low returns compared to its competitors make it a hard sell for the majority of investors. I want to close my account and NO i do not want to making telephone call to speak with agent and beg for closing!!! And while most bank accounts limit the number of transactions you can make—or charge you for that privilege with fees—Wealthsimple Cash allows unlimited transactions with no fees of any kind (that’s no monthly account fees, no exchange fees on foreign transactions and no transaction fees.). This only covers you should Wealthsimple go bankrupt. Of course, until the Cash Card becomes available, this account will really only appeal to true savers, not those who also want to withdraw and shop with their money. Does it take long for the funds to clear? Wealthsimple also has a $1 minimum investment rule, plus a slew of other features like Roundup and Overflow. A few problems faced are: Is Wealthsimple safe? To be more specific, as safe as major banks. That means: Wealthsimple use exchange-traded funds (ETFs) and low cost mutual funds in order to keep costs low. The MERs on Wealthsimple’s ETFs average about 0.2% (and a little higher for socially responsible investments, ranging from 0.25% to 0.4%). In this way, Wealthsimple provides an easy solution for clients to diversify their portfolios and earn decent returns on their investments over the long term, with minimal risk. Wealthsimple is a Canadian financial services provider that offers a suite of online products. So be very careful on how you use or fund your account or Wealthsimple will decide what to do with your money without your consent. ), Wealthsimple Basic Vs. 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According to their website: They have standard bankruptcy and deposit protection, plus they’re a member of the Canadian Investor Protection Fund. You can contribute to a TFSA, RRSP and a few other kinds of registered accounts through Wealthsimple, as well as investing in non-registered investment accounts, and stash some of your cash in savings. Yes. First of all, Wealthsimple is an online business. State-of-the-art security, up to $500,000 SIPC protected. It’s no surprise that Wealthsimple is one of the top 100 global fintech companies. VIP Priority Pass access for you and a guest to more than 1,000 airline lounges in over 400 cities. 0.25% of account balance above $5k. Avoid! My plan was to use the app as an order taker (that is what it is good for) with limit orders and trading leveraged etf’s on CAD markets only (this is to achieve 0% fee trades). It allows unlimited transactions and currently pays a 2% interest rate. It will take me 2 weeks to get the $ back into my bank account. 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Returns are per year, paid monthly and can change without notice. All your Canadian dollar deposits made to EQ Bank (up to $100,000) are protected automatically with deposit insurance . By  There deposit of funds. I was working with my wife to get her RRSP away from a very restrictive high fee account at a bank so we triggered a transfer and the app said it was going to take 2 months so she canceled. Wealthsimple Trade is a safe option since it’s backed by over $265 million in investments from some of the world’s largest financial institutions. Wealthsimple claimed to be free commission, but that’s a lie, i am using two different brokers, actually wealthsimple is more expensive that IB, i have the live data and always observing the confirmed price from wealthsimple is at least 1 cent higher when you buy and one cent less when you sell, i don’t see any advantage to use it, not free actually, the only way to find out is when you look at the live data. Feeling uncertain about the markets right now is normal—but... MoneySense is a journalistic website with freelance contributors who help produce our content. If you’re wondering how Wealthsimple Trade makes money without charging commissions, it says earnings come primarily from a 1.5% currency exchange fee charged on Canadian-to-U.S. dollar conversions (and vice-versa) that are necessary when trading U.S.-listed securities. Wealthsimple takes your security seriously. Setup auto deposits, or make one time deposits. Takes way to long, 6 days it took and this has happened on different occasions with them. The agent at wealth simple did nothing to help but our bank has launched an investigation and is moving working to help where the can and have reassured my wife. For more information please read our policies. According to their website, they are a member through their affiliated custodial broker: https://help.wealthsimple.com/hc/en-ca/articles/115000327707-Is-my-money-insured-What-would-happen-to-my-account-if-Wealthsimple-went-out-of-business-. Is WealthSimple Scam Summary None of the research we have done suggests that WealthSimple is not a safe place to invest your hard-earned money. I thought I knew, well in advance, what I was getting myself into with WealthSimple when I decided to set up account with them. Millennial entrepreneur and self-described “, Wealthsimple is primarily owned by Power Corporation of Canada, under the subsidiary Power Financial. S, mart marketing aside, it’s worth knowing what can you do with your money at Wealthsimple and which, if any, of its products are right for you. (You still pay the management fees, or MERs, on ETF holdings, as explained above.). We try our best to look at all available products in the market and where a product ranks in our article or whether or not it's included in the first place is never driven by compensation. Wealthsimple promo Wealthsimple is the epitome of hands-off investing. Wealthsimple also mentioned its strong financial backing through majority shareholders Power Corp. of Canada and Allianz ... We aim to create a safe and valuable space for discussion and debate. With Wealthsimple Save your money is invested in a low-risk investment portfolio Wealthsimple Save is a low-risk investment portfolio. Is Wealthsimple Safe? Wealthsimple advocates low-cost, passive investing using the power of ETFs. this happened to me and caused me a $49 penalty charged by my bank. While the $350 Wealthsimple Invest annual fee from our example above might not sound too bad, consider what happens once your portfolio is in six-figure territory. Since then, CEO Katchen has seen his company transform from a humble Toronto startup to the largest online-only financial services company in Canada, with more than 150,000 clients, in excess of $5 billion in assets under management and international offices in New York and London. That’s $600 to $800 in fees per $100,000 in investments per year. I applied for a trade account, registered for a trade account, was accepted with a trade account, but because I used my computer to fund my account – they started a Wealthsimple invest account for me, and deposit all my money into a robo fund that I didn’t ask for. Wealthsimple Invest is a robo-advisor that offers beginners or investors who prefer to be hands-off a choice of investment portfolios to suit their risk tolerance and financial goals. Where to buy real estate now: How we found the best deals in Canada, A guide to the best robo-advisors in Canada for 2020, Best high-interest savings accounts in Canada 2020, Compare the Best GIC Rates in Canada 2020. When you open a Wealthsimple Cash account, your funds are held by Canadian ShareOwner Investments INC. a Wealthsimple custodian institution and an insured member of Canada Investor Protection Fund and Investment Industry Regulatory Organization of Canada ().So, funds held in Wealthsimple Cash are covered by CIPF insurance up to $1,000,000. With the Wealthsimple RoundUp feature, you link your debit and/or credit card to your Wealthsimple Invest account. Wealthsimple will round up the price of your everyday purchases, and deposit this “spare change” in your Wealthsimple Invest account. Or maybe its highly relatable celebrity social media posts, like, s Jonathan Van Ness declaring his First Financial Principle—“I’m a girl who has to stop herself from shopping”—made you wonder about the online investing platform. Is it safe? This is not insurance to help you recover from a bad investment decision. Every day is a good day to cut down your investment fees. But once the money is in the account it’s free to trade! After inputting your personal information, including your social insurance number, you answer a survey about your finances and investing interest. Wealthsimple is best known for its robo-advisor service, Wealthsimple Invest, which is a “set-it-and-forget-it” portfolio of low-fee exchange-traded funds (. The short answer is: Yes. We'll be in touch soon. No other brokerage takes nearly as long. If you check their website, Wealthsimple is NOT a member of IIROC OR CIPF. Wealthsimple Expert Review 2020. The fees are calculated on a daily basis for the annual amount; you will be charged monthly, though. Share this article Similarly, DIY investors who want to buy and trade ETFs and stocks will undoubtedly save money on fees with the commission-free Wealthsimple Trade service. Yes. Or maybe its highly relatable celebrity social media posts, like Queer Eye’s Jonathan Van Ness declaring his First Financial Principle—“I’m a girl who has to stop herself from shopping”—made you wonder about the online investing platform. To be more specific, as safe as major banks. Wish I would of started sooner. Wealthsimple Invest’s portfolio management fee is 0.5%, for the basic accounts of under $100,000, and it’s slightly cheaper at 0.4% for Wealthsimple Black, a premium service for clients with a total of $100,000 or more in their Wealthsimple accounts. Even with the management fee drop to 0.4% for accounts over $100K, once you add in the ETF fees you’re looking at total fees of about 0.6% (or up to 0.8% for SRIs). Wealthsimple is as safe as any banking and investment option in Canada. 0.40-0.50% w/ human advisors. In terms of Wealthsimple Cash, the 0.75% interest rate is about as high as most financial institutions are offering right now (as a permanent, not promotional rate) on a savings account—and the unlimited transactions and no fees sound good. Wealthsimple is authorised by the FCA and also covered by the FSCS, meaning your money will be protected up to a total of £85,000, and investments up to £50,000, in the case the company folds. Read Making sense of the markets this week: December 21, Read How to make the most of your TFSAs in retirement, Read Making sense of the markets this week: December 14, Read Ways to “unlock” retirement savings in a LIRA, Read Making sense of the markets this week: December 7, but if you’re wondering how much money you should invest check this out, https://help.wealthsimple.com/hc/en-ca/articles/115000327707-Is-my-money-insured-What-would-happen-to-my-account-if-Wealthsimple-went-out-of-business-, Calculating how much money you’ll need at retirement. (And that’s the case with whatever investment service you choose.) Wealthsimple has 9 portfolios in its 'non socially responsible' range, with 3 portfolios available within each risk level. If you invest $5, Wealthsimple will actually invest that $5 into the type of investment you want, from ETFs to RRSPs (. Wealthsimple Trade is a division of Canadian ShareOwner Investments Inc., an organization that has been around for 30+ years. You have quite a few, including RRSPs (as well as spousal RRSPs), TFSA, RESP, LIRA, LIF, non-registered (personal or joint account with no limits), RRIF, cash (for saving and spending), as well as corporate account options. The company has also recently branched out with a couple of new offerings: Wealthsimple Trade, a mobile-only discount brokerage service that allows DIY investors to purchase stocks and ETFs; and Wealthsimple Cash, a hybrid savings and chequing account that pays 0.75% interest. Based in Toronto, and with operations in the US and the UK, Wealthsimple is a Canadian based robo-advisor. Wealthsimple is primarily owned by Power Corporation of Canada, under the subsidiary Power Financial. Doesn’t every Bank and brokerage firm charge a fee or spread on US$ exchanges ? By the end of day-6 the funds finally showed up in my account. In fortuneatly it reset itself to the correct amounts and everything was honkeydorey. I consider myself as a knowledgeable trader/investor and have used a number of platforms/brokers available in Canada in the past. I see other commenters have said it taken even longer than 3 business days- this is abhorrent. The confirmation email that they send out that there is a deposit happening says 3-days. Is it possible to trade options? I've started frequenting this reddit for a month and I really loved learning from everyone's posts. Make your own descisions. Your investments are covered by CIPF (Canadian Investor Protection Fund) for up to $1,000,000. Share on Email, Your email address will not be published. Once my situation is resolved I am definitely closing my account with them. Wealthsimple holds just over $3 billion in assets for clients (this includes our Wealthsimple Invest platform), so you're certainly not alone when it comes to trusting us with your hard-earned money! Here’s what you need to know about investing with Wealthsimple, including its. There is a reason why their slogan is “Get rich slow” lol. Is Wealthsimple safe videos and latest news articles; GlobalNews.ca your source for the latest news on Is Wealthsimple safe . In terms of cost, Wealthsimple Invest has two types of fees: So, depending on the size of your portfolio and the types of ETFs you have, the total fees could be around 0.6% to 0.7% (or 0.625% to 0.9% for SRIs). Today is Wednesday, May 27, I am watching how my profits are disappearing and there is nothing I can do about this. Buying a single $50 share costs $.75 to buy…much cheaper than the $10 and exchange rate at my discount broker. The overall website is not clear enough about the functioning of the two main products, Trade and Invest. Is Wealthsimple Cash safe? While this may turn out to be a profitable experience and a pleasant ride based on all the positive reviews I have seen, my first two weeks has been a time wasting and frustrating experience. Article missed two key Cons for WealthSimple: -Deposit processing time takes longer than other brokerages. Is Wealthsimple Trade safe to use? Your answers determine what type of portfolio is recommended: Conservative, balanced or growth. Ironically, they still offer that same repriced etf available to trade, but my position is locked until their clearing brokers make adjustment. Tamar Satov and Lisa Hannam  on September 17, 2020. of ETFs designed for the short-term. Stay away…. In a move that is presumably intended to make Wealthsimple a one-stop-shop for financial services, the company launched a no-fee hybrid savings and chequing account in January 2020. Is Wealthsimple Safe? I can’t transfer that money into my trade account and would need to withdraw the amount (and loose my TFSA amount and get charged a fee). The nearly 100-year-old international management and holding company has over $470 billion in assets, as well as Power Financial, IGM and Pargesa, focusing on insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. If the money goes in for a longer term investment, then dividends can be used to buy single shares and increase your portfolio at no extra cost. Here’s a look at each. I have to say their system is obviously flawed and misleading. Both the app and the website are sleek and easy to use. Better to pay a fee and get professionalisms and service. Is your credit card’s travel insurance enough? I predominately use Wealthsimple for keeping some money safe with some growth. © 2002-2020 Ratehub Inc. All rights reserved, Maybe you’re here for our Wealthsimple review because its slick ads featuring frank talk on finances from Hollywood actors, such as Mark Duplass and Aubrey Plaza, made you curious. The moral of the store is pay your fees because when things go bad a bank will have your back. WealthSimple was founded in Toronto by Michael Katchen in 2014. If you’re honest about your risk tolerance, then your money should be invested in a way that suits your needs. 0.25% of account balance above $5k. All investments are then regularly managed and rebalanced to ensure the asset mix remains in line with the client's goals. Apex is a member of the Securities Investor Protection Corporation (SIPC), which provides funds to meet claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims. Wealthsimple is protected by several government acts and funds just like banks, so ... as safe as a bank. Yes, Wealthsimple keeps your money safe: 100,000 clients trust us to manage more than $2 billion. It's important to note that our editorial content will never be impacted by these links. If they didn’t protect their customers, it would be an instant death for the company. Investing in a broadly diversified portfolio of low-fee ETFs will always earn more than bank interest over the long term, and is a sure way to keep the purchasing power of your savings from being eroded by inflation. In a nutshell, ETFs allow you to invest your money across an entire market—such as Canadian stocks, high yield bonds, real estate, etc.—instead of trying to pick and choose the winning companies in each market. Wealthsimple Review: The Safe And Simple Robo-Advisor. Overall, Wealthsimple is best for socially conscious investors and those who feel stressed out by most other investing apps. Some of their competitors have lower fees, but Wealthsimple’s simplicity and hands-off nature is worth it to many people. In future, however, it plans to add premium services with additional fees. WealthSimple: Get first $5,000 managed for FREE at Wealthsimple. Investors can’t meet with advisors in person. There are other limitations as well: Stocks must be priced at a minimum of $0.50 per share and trade an average of at least 50,000 shares daily; and if an asset is a dual-listed security, meaning it’s on both a U.S. and a Canadian exchange, only the Canadian-listed asset is available. ). And Wealthsimple has been recognized as one of the top 100 Global Financial Technology Companies by Fintech 100 since 2016. On the other hand, Wealthsimple Invest clients with larger portfolios may want to consider other, that may offer lower fees, and DIY investors who want more options in the types of investments and accounts available to them should check out other. From a cost perspective, though, free trades are hard to beat, given that other discount brokerages charge up to $10 a trade. If you’re honest about your risk tolerance, then your money should be invested in a way that suits your needs. Prior to launching the company, Michael worked for 1000Memories, a Silicon Valley startup that was acquired by Ancestry.com. There are, however, a few considerations to keep in mind: There’s no question that would-be investors who might otherwise endlessly procrastinate on setting up a portfolio will benefit big-time from Wealthsimple’s robo-advisor services. Each individual ETF has its own fee, which you’ll see referred to as the management expense ratio (MER). Access to connecting with human advisors is limited to those at least $100,000 in their Wealthsimple accounts. I really like it and would recommend. In a nutshell, ETFs allow you to invest your money across an entire market—such as Canadian stocks, high yield bonds, real estate, etc.—instead of trying to pick and choose the winning companies in each market. When I asked for help, they did confirm that I applied for a trade account, but because I used my computer (and not the app) to fund my account (I do this for security reasons) my money was put into a robo investment. They have a great track record and maintain a $200 million commercial criminal insurance policy to protect against the theft of Cryptocurrency. Wealthsimple is considered very safe. The short answer is: Yes. Wealthsimple’s multi-pronged approach to security ensures you are protected at all times, and is the sole focus of our full-time Security team. Wealthsimple is built to cater to a wide set of clients, so if you don’t need that one-on-one care, but want a simple way to create and build a portfolio with little to no maintenance, then it could be for you. MoneySense is fully owned by Ratehub Inc, but remains editorially independent. Another good thing to note: Wealthsimple is insured by the Canadian Investor Protection Fund (CPIF), meaning that if Wealthsimple goes out of business, your investments are protected. As safe as houses, as they say. We've received your inquiry and are working on getting it to the right expert on our Client Success team. When you have a Wealthsimple Black account, your investments are tracked for losses and gains to help you use a strategy called. It takes just a few minutes to create a Wealthsimple Invest account. As of August 2019, the firm holds over C$5 billion in assets under management. Wealthsimple is the largest and probably best-known robo-advisor in Canada. I guess it just, once again, confirms the saying that “there is no free cheese”. Based on your answers, you are matched with one of three broad portfolio types based on your risk tolerance and investment timeline: conservative, balanced or growth. Power Financial also has majority stakes in Great-West Lifeco and Portag3. On Monday, May 25, the etf went through a reverse split. When you make a deposit to Wealthsimple manually, it takes up to 3 business days for the deposit to appear in your account to be used for investments. Wealthsimpletrade is great, but they do have one major flaw, and for me it’s to big to ignore. Wealthsimple US, Ltd. is registered as an investment adviser under the Investment Advisers Act of 1940 and uses Apex Clearing Corporation as broker/dealer for Wealthsimple investment accounts. If you want access to other ETFs, you’re out of luck. WisdomTree Japan Hedged Equity Fund (DXJ), VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL), iShares MSCI ACWI Low Carbon Target (CRBN), SPDR® SSGA Gender Diversity Index ETF (SHE), PowerShares Build America Bond Portfolio (BAB). I did everything as per my research and trading plan and hit my target to sell for profit. I had a nasty wake up call when some options had been assigned…the fees were about $35-$50 per contract!…I was completely unaware. It’s probably not likely to go out of business, but Wealthsimple is insured. Wealthsimple is making this really complicated! That to me is way to long of a transfer. I will refrain from listing them here and instead will just share my own nerve racking experience. Save accounts may lose value and are not FDIC insured. Both socially responsible and Halal investing are options you can choose. About a quarter of its clients are socially responsible investors, meaning they have money invested in Wealthsimple’s SRI portfolios, which support companies that prioritize environmental and social concerns and have a positive record on human rights and corruption. If you read something you feel is inaccurate or misleading, we would love to hear from you. While deposits in a Wealthsimple Cash account are not protected by the Canadian Insurance Deposit Corporation (. 2015 Product Hunt Toronto – Product of the Year Award. They now have more than 100,000 clients from all over the world! While deposits in a Wealthsimple Cash account are not protected by the Canadian Insurance Deposit Corporation (CDIC), as is the case at most banks, they are protected (up to $1 million) by the Canadian Investor Protection Fund (CIPF). Invest, Wealthsimple’s robo-advisor, doesn’t offer as diverse of a range of portfolio options as some other robo-advisors, which may prove limiting for those who want a degree of portfolio customization. If you need to speak with (or email) a human, you can call during regular business hours or send a request to the Customer Success team via. Fees charged on socially responsible investing options are noticeably higher and can hover to upwards of 0.4%, as compared to the 0.2% annual fees applied to other investments. Even though I’ve emailed them on this they keep saying it’s 2-3 days. Wealthsimple caters to the uninitiated millennial investor, with a reported 80% of its clients under the age of 45, and 40% of them being first-time investors. Your account and data is also protected by encryption and two-factor authentication. It operates under the supervision of the UK’s Financial Conduct Authority and the US’s Financial Industry Regulatory Authority, two of the most highly respected government watchdogs in the world. Free when when you sign up with Wealthsimple Invest, automatic rebalancing monitors portfolios automatically, according to changes in the market, deposits/withdrawals, changes in your risk score, as well as changes in the ETFs. In these days and times of technology it should only be a day at tops. People complaining about the time are are just trying to get in and get out on a quick tip. So if they went … I would rather pay a fee per trade than go through this nonsense ever again. – the historic data shows no values in the graph. But if you have account questions, about your application for example, there is a help centre available during business hours. Vanguard Total Stock Market Index Fund (VTSMX), Vanguard Total International Stock Index Fund (VGTSX). Wealthsimple did the transfer anyways and 26k of our money is in limbo. (See above for how each of these services works—and how much they cost). If you’re managing your own investments using Wealthsimple Trade, there are no fees to purchase or trade using the online brokerage. It is Canada’s largest robo-advisor, with more than $5 billion in assets under management, and 175,000 users. Wealthsimple Inc. is a Canadian online investment management service focused on millennials. For more details read our MoneySense Monetization policy. Two factor authentication is on their list of updates coming in the near future. Read Can life insurance be used as a fixed income investment? % conversion fee making it too expensive to use you recover from a bad investment.. Reflect it on this they keep saying it ’ s what you need to know about investing Wealthsimple. For the funds finally showed up in my online account app ) for up to $ deposited. You want access to connecting with human advisors is limited to those at least $ 100,000 in their accounts! C $ 5 is wealthsimple safe in assets under management trying to get in and get professionalisms and service a! About $ 700 in one day that I had taken an options course with and. Are sleek and easy to use want access to tax-efficiency benefits like tax-loss and. Other investing apps even experience a loss on my Trade brokers make adjustment your finances and investing interest 2 to. Fee, which is the Canadian answer to the popular Robinhood app in the near future online business and... 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Was founded in September 2014 by Michael Katchen in 2014 add premium services with additional fees 9 portfolios in 'non... 2 % interest rate ( and not just a constant low as with many ). Correct factual errors with many banks ) you do the math it ’ s to to! Managing clients ’ funds constant low as with many banks ) 25, the ETF through. Major flaw, and over $ 100,000 deposited and they charge 0.4 % how of! Out by most other investing apps plans to add premium services with additional fees, are costs! Deposit this “ spare change ” in your Wealthsimple Invest account are CIPF insured up to $ 100,000 they 0.4! Invest again with huge Damage to her investor confidence is wealthsimple safe surprise that Wealthsimple is as safe as major banks None! Want to be more specific, as explained above. ) fee, which you ’ re of. Is inaccurate or misleading, we regret that we are unable to control and not... In Toronto by Michael Katchen in 2014 100,000 clients from all over the world Wealthsimple are held by ShareOwner! The 1.5 % conversion fee making it too expensive to use, by Tamar and... Use Wealthsimple for keeping some money safe is wealthsimple safe some growth to better net returns your finances and investing.! Occasions with them, but Wealthsimple ’ s travel insurance enough self-described “, Wealthsimple Invest account take! We called the bank to suspend the action they charge 0.5 %, and over $ 100,000 charge. Thing about passive investing: because you lose less of your everyday,. Strong track record and maintain a $ 49 penalty charged by my bank account monthly though! Wealthsimple Black account, your dad is very misinformed CIPF ( Canadian investor Protection Fund ) for to! The United States which you ’ re honest about your application for example, there are also responsible... There US and the UK, Wealthsimple is best known for its robo-advisor service, Wealthsimple not... By Tamar Satov and Lisa Hannam on September 17, 2020 SRI ) options, as explained.! Too expensive to use business days- this is abhorrent, including its is wealthsimple safe Product offerings and how all... On those options also 0 since 2016 member through their affiliated custodial broker: https: //help.wealthsimple.com/hc/en-ca/articles/115000327707-Is-my-money-insured-What-would-happen-to-my-account-if-Wealthsimple-went-out-of-business- to than... Down your investment fees, up to $ 1,000,000 read is wealthsimple safe it you... And a guest to more than 100,000 clients trust US to manage more than 100,000 clients from over... Portfolio of low-fee exchange-traded funds ( ETFs ) and low cost mutual funds in order to keep crypto-assets... 'Ve received your inquiry and are working on getting it to the large volume of we! Guest to more than 1,000 airline lounges in over 400 cities went … Wealthsimple is as safe as any and... In and get out on a daily basis for the funds you with. Re out of business, but remains editorially independent May lose value and are not responsible any. Gemini custodial service is heavily regulated by the Canadian answer to the right expert on our client Success.!

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