Wealthsimple Review (2021 Update) Posted by Will Bronstein | Investing, Reviews, Robo Advisors. If you’re looking for more products and features such as a savings account, a trading account, and actual robo advising with human advisors you can talk to, I think you’re better off with Wealthsimple. Note that there is only iOS and Android app for Trade, no desktop. This also means that the growth portfolio has a higher long-term return potential than the conservative portfolio. Of course, no one should focus on short-term performance, but a look at why these changes worked will help you understand why not all diversification is created equal. My opinion: Wealthsimple is a better investing platform with commission free trading, lower fees and a higher interest savings rate, but Tangerine has more banking features. When evaluating offers, please review the financial institution’s Terms and Conditions. You’ll get a personal financial advisor and can enjoy extra features, like tax harvesting or VIP airline lounges. Wealthsimple is the largest robo advisor in Canada (from assets under management). It is a platform that allows you to make commission-free stock and ETF trades, similar to Robinhood in the U.S. The platform was launched at the beginning of 2017, and now has more than $4 billion in assets under management and 120,000+ clients internationally. As Wealthsimple launched in 2017 they have a track record going back three years. Tangerine is owned by Scotiabank, and better known as an online bank. Wealthsimple portfolio performance. Uncategorized. Wealthsimple also offers a variety of socially responsible investing options that focus on cleantech, low carbon and Halal investing. They are backed by Power Corporation of Canada. We've modelled a 35% equity portfolio below. Robo-advisors have soared in popularity in Canada and the U.S in recent years, due to their effective system of investing in exchange-traded funds (ETFs) with low fees. It seems more people are more conscience about choosing ethical ways to invest. Although Wealthsimple has launched a wide variety of products, at its core, Wealthsimple is an online investment management company. This post may contain an affiliate relationship with companies that Wealth Awesome believes in personally. Home. You also can’t invest in companies that profit off things such as gambling, alcohol, tobacco, pork, and weapons, among other things. You will need seperate apps for the Wealthsimple Trade and Invest accounts. If you prefer stability and a modest return, this portfolio is for you. In each report, the data spans from January 30, 2017, to December 31, 2019. Here is the information on the Wealthsimple Growth Portfolio performance. This portfolio has grown by a cumulative 23.9% (net of fees) since it was launched on March 24, 2016 to March 31, 2021. Uncategorized. Wealthsimple is a robo-advisor with the most robust product lineup in Canada. In May 2019, the company received $75 million in funding, and there is potential for an Initial Public Offering (IPO) in the future. Wealthsimple also has lower fees or equal for accounts under $350,000, so that’s another plus. Our new portfolios outperformed our old portfolios (not to mention Canada’s largest mutual funds). Even conservative portoflio have losses. It is suitable for low-risk investors. You’ll get a more personalized portfolio based on a professional team’s advice. Investment Growth - Time Period: Mar 24, 2016 - March 31, 2021, Wealthsimple North America Socially Responsible Index ETF, Canadian and American stocks that do not violate social and environmental values, Wealthsimple Developed Markets ex-North America Socially Responsible Index ETF, European, Australian, and Asian stocks that do not violate social and environmental values, Long term debt securities issued or guaranteed by the Government of Canada, Debt securities issued by Canadian provinces, Shares tracking the value of physical gold bars held in London vaults. With the growth portfolio, you should expect the highest amount of variation for returns, and the highest portfolio performance in the long term. Their socially responsible, or SRI, portfolios invest your cash in socially responsible companies across North America and the globe, as well as Canadian bond ETFs for balance and income. That is, the higher the risk, the higher the expected return. Here’s what a Balanced portfolio might look like: Surprisingly, during a period when the global stock market has been on a tear, Wealthsimple’s bond-heavy Conservative portfolio has actually performed better than the growth portfolio. This is a big minus in my opinion. Based in Toronto, and with operations in the US and the UK, Wealthsimple is a Canadian based robo-advisor. During the March 2020 market crash, Canadian ETFs still saw an inflow of $2.9 billion. Questwealth Portfolios is the newest entrant to the robo-advising industry in Canada. Power Corp is a massive company, with a market cap of over $12 billion and owns numerous financial assets in Canada. The plan is customized to your risk tolerance, time horizons, and investment goals. Known as a top-ten robo-advisor, the company focuses on providing largely automated financial services to customers in Canada, the United States, and Great Britain. Wealthsimple’s performance does not do much to justify the platform’s high fees, and is notably worse than the performance of competitors Wealthfront and Betterment. Past performance is no guarantee of future results. Interested in the Mulvihill x Wealthsimple partnership Your email address will not be published. An aggressive portfolio would be weighted toward riskier investments (which also offer the possibility of greater returns), while a conservative one will include more low-risk investments. If you are an investor in Canada, you might have already heard of BlackRock iShares Canada. Depending on whether you choose a balanced, conservative, or growth portfolio, the percentage in which you’ll be invested in these different types of stocks changes. Wealthsimple has clients in the United States, U.K., and Canada. This is slightly better than the performance of Wealthify’s Cautious portfolio, which has returned 15.7% since 2016. Wealthsimple Invest is an automated way to grow your money like the worlds most sophisticated investors. I’m excited to see what they will come out with in the future. Wealthsimple is a Canadian based robo-advisor that provides accounts to investors in Canada, the U.S., and the U.K. If you’re shopping around for a robo-advisor in Canada, you must take a close look at Wealthsimple. Wealthsimple offers two ethical investing options: Socially Responsible Investing portfolios (in Conservative, Balanced, or Growth based on your risk tolerance) and a Halal portfolio. The portfolios invest in ETFs that include bonds, worldwide stocks, and Canadian stocks. With the conservative portfolio, you should expect the least amount of variation for returns, but a lower portfolio performance in the long term. I then calculated the annualized performance for mutual fund “Mawer Global Balanced Fund” using the Morningstar chart function and … The halal investing portfolio risk profile is in line with Wealthsimple's growth portfolio offerings because it is invested 100% in equities and designed to track the broad market's performance. Wealthsimple is also owned by Power Financial Corporation, which is one of the world’s largest financial companies. Wealthsimple Generation: CAD/$/£ 500k minimum account balance required. How has the Growth SRI portfolio performed? Registered (RRSP) Account Breakdown Your registered (RRSP) portfolio will be invested in the following funds: The MER of the portfolio is 0.16% and the management fee of this portfolio is 0.50% The company tries to live up to its namesake of keeping investing simple, which should be the overall goal of all robo advisors. Investor type: Our Conservative portfolios have around 30% equity allocation. Answer the investment questionnaire. Flexibility 8.2/10. Your assets are protected up to $1,000,000 if Wealthsimple were to go bankrupt or insolvent. Performance We've modelled a 35% equity portfolio below. Wealthsimple Halal Investment Portfolio Wealthsimple was founded in Canada in 2014 and has since expanded operations to the United States and the United Kingdom. WealthSimple’s annual management fee starts at 0.50% for asset values below $100,000, or 0.4% when you go above that. The basic portfolios that Wealthsimple offers are balanced, conservative and growth. Because of the higher fees, the SRI portfolios will likely underperform the normal portfolios over the long-term. Wealthsimple has clients in the United States, U.K., and Canada. Copyright 2021 Wealthawesome.com All Rights Reserved. Wealthsimple Expert Review 2019. There are 10 risk levels – Risk Level 1 is the most conservative while Risk Level 10 has the highest allocation to equities. either an open-end investment company (generally known as “funds”) or a unit Equity is more volatile than fixed income, so it is a higher risk Growth portfolio. In the past five years, this portfolio has seen a return of 4.48% with a volatility rate of 4.69%. Questrade is a discount brokerage popular among do-it-yourself (DIY) investors in Canada. ETF Conservative Portfolio. It depends on your needs, but either of these brokerages are solid choices for your trading needs. How has the Conservative portfolio performed? The fee will be the normal charge, depending on what portfolio you are with. This is slightly better than the performance of Wealthify’s Cautious portfolio, which has returned 15.7% since 2016. How has the Balanced SRI portfolio performed? The company seems well in tune with its customers and its product and features has proven so. You can choose a portfolio weighting “according to environmental and social impact, as well as for performance.” The portfolio selection still follows the rest of the portfolio strategies at Wealthsimple in that you can choose from Conservative, Balanced, or Growth. Wealthsimple Invest is the core product of the company. Questrade, the parent company of Questwealth Portfolios, has actually been around in Canada since 1999, and it is If you CANNOT then stay safe. Our Conservative portfolios have around 30% equity allocation. It’s easy to open a new account with Wealthsimple and is only a few simple steps. A mix of Federal, Provincial, and corporate Canadian debt with maturity >1 year, (Coming soon) Use of ATMs, e-transfers, and bill payment, (Coming soon) No foreign transaction fees, All the same features as Wealthsimple Black above, Medcan Comprehensive Health Plan Discount, Connect savings or chequing account with Wealthsimple, Set a max balance of how much cash you want in your account. If you’re wondering how does Wealthsimple work, you’re probably thinking about Wealthsimple Invest. The software is easy and intuitive, with a sleek looking design. On top of the fees that Wealthsimple charges, there are also fees charged by the investment fund managers of the portfolio. It’s a neat way to save a few extra dollars each month. With both accounts offering savings accounts, the zero commissions is a big bonus. Is Wealthsimple worth it? About Wealthsimple. SimpleTax is a free tax filing software for Canadians. Wealthsimple Trade offers $0 commission trading for both ETFs and stocks (buy and sell). Owning a portfolio expected to return less than you could handle emotionally is just wasted opportunity. You’re ready to invest. Questrade and Wealthsimple are both renowned for offering very low fees in comparison to traditional fund managers. They have created some wonderful breakthrough advertising that lets Canadians know that investing can be simple and effective and low … Wealthsimple Socially Responsible Investing (SRI), 7 other investment options in Canada here, 18 iShares Canada ETF List Overview 2021: A Fantastic ETF Provider, Nest Wealth vs Wealthsimple 2021: 2 of Canada’s Leading Robo-Advisors, Developed Europe, Australia, and the Far East. I think it’s a great acquisition by Wealthsimple, and it will only help to grow trust in its brand by providing these outstanding free services for Canadian customers. 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