So you must obviously think it’s a good thing to invest in, otherwise you wouldn’t have made Wealthsimple Crypto. This subreddit is about anything and everything Wealthsimple Invest! Even VBAL has done much better than WealthSimple's balanced option. Attempt 1: I started with "create a new TFSA account", but never finished the last steps and abandoned it halfway. Past performance is no guarantee of future results. Money Under 30’s review of Wealthsimple is for US users only. Those wishing to invest ethically will pay an average fund charge of around 0.66% which is actually a little expensive when compared to the likes of Nutmeg (0.31%) and Wealthsimple (0.27%). With their balanced portfolio's 5-year performance barely above 6%, it's extremely disappointing. Is the Invest app just a redundant app to the Trade app since you can invest with it or do they work cooperatively? I've been using their Trade platform for a little while now and I'm overall pretty satisfied. Basically they were beating VGRO for the last two years but this year is off to a rough start. Let me explain. If you're looking to signup, click the button and get 10K managed for free! Would the better option to be just cancel the current transfer, and open a Trade account to restart the transfer process? 4. WealthSimple isn't the type of investment platform that's meant to be micromanaged or monitored. Second, find ways to relax. Also, the performance data on their 80% equity growth portfolio is listed as 8.59%, not barely above 6%. Do more with your money with our smart financial tools and expert advice. This gives an average annualised performance of 6.05% to the end of the last quarter. It's not just the market. What's going on? 22 comments. share. When diving deeper, their bonds and gold are sitting at -9% and -10% performance since I started. But it's good enough to see what's going on. This portfolio has grown by 25.22% (net of fees) since Wealthsimple's launch on August 20, 2014, to March 31, 2021. I won’t explain how or why, but just know it’s guaranteed. https://www.reddit.com/r/PersonalFinanceCanada/comments/ih9zx7/wealthsimple_invest_now_includes_gold_as_a_part/. Here is where the confusion comes in. At the beginning in Feb, I wasn't sure of the process and made two attempts. I got a 19% return (simple) starting over a little more than a year. What Does Reddit Say With Wealthsimple, the … Lastly, I was going to eventually transfer over to Trade, but wanted to try Invest first to get my feet wet with Wealthsimple. Past performance is no guarantee of future results. I am seeing a huge dip and I am unsure if it is the market or the performance. Recently I opened an Invest account because i wanted a low risk passive investment portfolio for my house purchase project (in approx. The value of your portfolio with Wealthsimple can go down as well as up and you may get back less than you invest. I thought PFC was all about long term investing but I'm seeing a bunch of people freak out about a little dip. It's nice to know, but for the most part it's designed to be left alone. Andrew's past work has been published in The New York Times Magazine, Bloomberg Businessweek, New York Magazine and Wired. While Wealthsimple charges 0.50% for deposits up to $100,000, Questrade’s management fees is only 0.25%. ... Wealthsimple Invest should give you similar long-run performance compared to investing directly in ETFs. Performance We've modelled a 50% equity portfolio below. These two RESP accounts are managed offerings. Invest Trade Crypto Cash Tax Log in Thanks! He currently writes about personal finance and investing for Wealthsimple. With any investment, your capital is at risk. That is, you’ll be delegating all the investment decisions and on-going maintenance to the Wealthsimple or Questrade investment managers. I have a TFSA through Wealthsimple Invest and am in the process of moving my personal Wealthsimple Trade account into a Trade TFSA. It is the market for sure, but for some reason Wealthsimple seems to be doing a bit worse than the market. There are 3 easy ways to fund your Wealthsimple account: Transfering from a checking account (Electronic funds transfer - EFT): a one-time transfer of funds from your bank account to your Wealthsimple account.Once initiated, we will pull the requested amount for your bank account on file and will deposit it into the specified Wealthsimple account. This portfolio has grown by 24.52% from when it was launched on 6th July 2017 to 31st March 2021. I tried updating the app, but that did not help. There has been a lot of posts on this and no one has really dove into it deeply, but it seems like their bond funds and their investment in gold is really hurting their portfolios? Note to our Canadian readers: please see this review of Wealthsimple. Just wondering if anyone else using Wealthsimple has seen a massive crash in their investments? 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. I only started in this year, but my WS Inevest was at -5% in the span of 2 months until I moved to a Level 10 Risk Portfolio from a 6 (to get 7+, you need to fill out a survey and I was until this point, too lazy) and now it's sort of frozen at a -1.6% loss. but it seems like their bond funds and their investment in gold is really hurting their portfolios? Minimum Investment. Wealthsimple also offers Halal Investing. Even high MER bank mutual funds have provided much higher results, after the fees. In this independent Wealthsimple review I analyse the Wealthsimple proposition and look at Wealthsimple's investment performance, fees and compare Wealthsimple vs Wealthify*, Nutmeg and Moneyfarm*.. As part of this review, I visited Wealthsimple's central London offices to grill them over their investment process, their proposition and their ethics. For most people that are uneasy about investing, the best thing to do is reading and learning about the markets and investment strategies. I just wanted to share my main issue that I have with WS invest and how I think they could improve the platform. Thanks so much for getting in touch. I am nowhere near maxing my contribution so it’s not really a huge concern right now but wondering for the future. I have invested thousands of my dollars with Weathsimple Trade & Wealthsimple Invest and I am now extremely dissatisfied with their service. Yeah RBC’s portfolios compared side by side with WS shows that fees certainly aren’t everything and their marketing campaign is a joke. wealthsimple's portfolio has had changes over that time period, "The portfolio includes securities in different currencies. I have [stupid] questions that I need answers to. Wealthsimple’s Trade app has racked up a 4.6/5 rating on the App Store from 18,600+ reviews. It asked all the questions and I uploaded all necessary statements and etc. Wealthsimple is an automated investing service — or robo advisor — and the largest such service in Canada. Past performance is no guarantee of future results. Then gold tanked. But I’m still moving to Trade. Their trading platform is also available on desktop, although, it is totally separate from the Wealthsimple Invest account i.e. First year it’d be $102, then 104.04, ..., etc.). my allocations add up to 100.1% for some reason on wealthsimple so I just fudged it. The value of your portfolio with Wealthsimple can go down as well as up and you may get back less than you invest. After weeks of very poor performance, mainly because of this ETF, I decided to move my money to Trade and manage it by myself. Has anyone done a comprehensive analysis of performance of comparable options that you are aware of? If you want a managed option, might as well go with something like Mawer Balanced which is slightly more expensive but has outperformed their portfolio for every imaginable time period. Now whenever I log into Wealthsimple, I see two notifications under TFSA. Trying this again as my previous post got no replies. 1-2y). Performance We've modelled an 80% equity portfolio below. In the right hand side bar there is a link to a reading list that will help explain the basics of personal finance and passive index investing. Wealthsimple is the smartest and easiest way for everyone to invest their savings. Wealthsimple Tax is offered by SimpleTax Software Inc. under the terms of our Wealthsimple Tax User Agreement. Even VBAL has done much better than WealthSimple's balanced option. ... Edit: THANK YOU so much to everyone who took the time to reply. Press question mark to learn the rest of the keyboard shortcuts. Wealthsimple Trade is the only commission-free trading platform in Canada. RBC InvestEase has a minimum investment amount of $100 and for amounts between $100 and $1,499, they put your money in a “Small Balance portfolio.” For Wealthsimple, the minimum investment to open a regular account is $1. This is why I'm not convinced they are really a true roboadvisor, because these are active, speculative picks. More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Press J to jump to the feed. Nothing more was asked of me and when it finished, it just told me to wait. By transactions I mean all buys, sells and dividends and not just deposits and withdrawals. Here's a comparison between the 80% equities portfolio in Wealthsimple and VGRO. 5. If it is a dual-listed security (listed on both US and Canada exchanges), only the ones listed on the Canadian exchange are available. So say you invest $100 and the interest rate is 2%, the money in the account can never dip below $100, and will always compound based on the interest rate (ex. If you look at the Assets tab, this year's poor performance is from gold and bonds. I am confused. How do I (or can I) get a debit and credit card? Our advice hasn’t changed: the smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market. Wealthsimple Tax is offered by SimpleTax Software Inc. under the terms of our Wealthsimple Tax User Agreement. I thought it was just market (6 in risk) compared to you, my gain is nothing. Does the contribution tracker on Wealthsimple Invest also take into consideration the contributions you make in the Trade app when calculating your contribution room or do I need to track that manually? The Details Magazine Sign in. What happened during the summer was bonds tanked, and they sold at the bottom and bought gold at all time highs. Can confirm it’s the Bond ETFs, ZFL.TO specifically, down about 15%. Support informed me that I needed to have an "open account at Wealthsimple" in order to transfer an account. I am aware the process takes weeks, but I previously had a name disparity issue while linking a bank, and wondered if it'd also cause problems for the TFSA. Press question mark to learn the rest of the keyboard shortcuts. . Should I just wait a few more weeks, and see if it goes through? Is there a way to download Wealthsimple invest transactions? A level 10 risk portfolio still forces you to take 10% fixed income and gold. But I would like to know the performance and history of the investment i am doing and be bale to compare it to other investment. I will be maintaining two different TFSA accounts through wealthsimple. their robo-advisor service. Even tho WS Invest is a passive investment platform, I think it should give us the option to at least chose in which ETFs our money goes. Wealthsimple Trade entered the brokerage market in 2019 with its mobile app. Press J to jump to the feed. Their growth portfolio is similar to VGRO though (8.59 vs 8.73). I assumed since this was never completed it is effectively never created and dead. First I wanted a low risk investment (I chose level 1) because I needed the money in the short term. Spare Change Investing 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. I started last February and I'm at 2.8% for simple. The portfolio has grown by 33.57% (net of fees) since Wealthsimple's launch on August 20, 2014, to March 31, 2021. The value of your portfolio with Wealthsimple can go down as well as up and you may get back less than you invest. I wrote in on the online request form and waited another week and half to receive an answer on April Fools day. 1. I took a look at where my money was going to be invested and my main issue was with the ZFL ETF. With their balanced portfolio's 5-year performance barely above 6%, it's extremely disappointing. Performance. What Does Reddit Say One can invest into stocks listed on the NYSE, NASDAQ, TSX or TSX-V exchanges plus ETFs. Andrew Goldman has been writing for over 20 years and investing for the past 10 years. 5.5% for money weighted, and 13% for time weight. Minimizing fees when you invest is extremely important because they eat into your profits and can diminish your portfolio performance by tens or even hundreds of thousands of dollars over time. Simply put, it has a clean interface and is very easy to navigate for beginners. Our current average response time for non-urgent inquiries is 5 business days (Please note we are closed on weekends). I don't know if this big ad prompt is referring to the account transfer, or if it is for the account I'd abandoned in Attempt 1. New user seeking advice and any explanations because I am feeling confused and lost. Specifically, long bonds, which helped the most during the crash, hurting the most during rising bond yields. Attempt 2: I started over and initiated an account transfer from my bank in its entirety. (They can give us like 2 or 3 options in each category or something like that). My only options is to raise my risk at level 3 and even there ZFL represents 35% of my portfolio. In late March, over a month later, I got antsy and wondered why the funds were still in the bank. I don't quite understand why anyone would pay ~.70% and deal with Wealthsimple, aside from for the purpose of using their self-directed platform. Wealthsimple Invest RESP vs Questwealth Portfolios RESP. Is there a way to download all transactions from an invest account? Government bonds are suppose to be low interest steady returns but this one keeps hurting the overall performance of my investments. Or am I looking in the wrong place? The only difference would be the fee charged by Wealthsimple… They are doing pretty badly compared to VBAL (6.19 vs 7.58). Was the support guy confused over my question? Do they mean I need to create a new TFSA account, and then do the account transfer? The results are not adjusted for different currency returns.". I think it's more about Wealthsimples choice in investments causing a bigger dip than it should be. With any investment, your capital is at risk. After few weeks, I decided to withdraw all my funds because I didn't like at all how the robot advisor invested my money and how the app didn't give me any real options to change anything. I have read the books advised in this sub Reddit and I’m trying to go slowly and carefully into the world of investing. This portfolio has grown by 56.6% (net of fees) since Wealthsimple's launch on August 20, 2014, to March 31, 2021. It was launched in 2014 and made available to U.S. clients on Jan. 31, 2017, after six months of beta testing. With any investment, your capital is at risk. I know its suppose to be a passive investment platform but they could have at least given us some limited options. I’m at 9. One can invest into stocks listed on the NYSE, NASDAQ, TSX or TSX-V exchanges plus ETFs. Wealthsimple is the smart way to invest, trade, save, spend and file your taxes. Yeah, I saw that too. Thoughts? At 0.40% to 0.50% of your portfolio’s value charged as fees every year, it’s almost double the costs to invest with Wealthsimple than Questwealth. If you are under the impression that your investments will always make significant gains I'd suggest that you do a lot of reading. Over the 3-year period for which we have data on more robos, Axos Invest and TIAA placed second and third, respectively, for performance compared to their Normalized Benchmarks. I have no way of getting rid of this ETF. EDIT: Never mind, you said BALANCED, not GROWTH. Performance We've modelled a 35% equity portfolio below. Wealthsimple Trade entered the brokerage market in 2019 with its mobile app. Below you can see how our 60% equity portfolio has performed over a number of 12 month periods. 30% wealthier if everyone earns the same return but they are consistently below average returns. At level 1, the robot advisor invest 40% of your money in ZFL while this ETF has been performing very poorly in the last years and show no signs of improvement (-10.5% last year and -5.4% in the last 5 years). :-((( Perhaps next update? Even high MER bank mutual funds have provided much higher results, after the fees. I think it's disapointing because it could have been a very cool platform but it really lacks management options. The response from the WS support basically said I need an account to transfer. If it is a dual-listed security (listed on both US and Canada exchanges), only the ones listed on the Canadian exchange are available. WealthSimple performance?! Wealthsimple Tax is offered by SimpleTax Software Inc. under the terms of our Wealthsimple Tax User Agreement. It's weird because WS did worse on the way up too and I was told that's because their picks are diversified. (If that sounds good, we suggest you check out Wealthsimple Invest.) The top one confirming that I have an account transfer from Simplii in progress, and a big ad-like prompt to review my agreements to open my TFSA account. We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. We'll be in touch soon. (And the Wealthsimple investments are passive index investments) In mid February, I initialized an account transfer for my TFSA in its entirety from Simplii to Wealthsimple Invest. Wealthsimple Trade* pros and cons The pros. We've received your inquiry and are working on getting it to the right expert on our Client Success team. 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. I have just downloaded the Wealthsimple Invest app and I have no idea how to use it (Yes, I am an idiot). Filing taxes is due at the end of this month, and I wanted to pay the $30 to receive a free stock for this year and now I am exempt from this opportunity. Wealthify has a 'refer-a-friend' scheme that rewards customers with £25 … Category or something like that ) support basically said I need to a!, and see if it goes through in gold is really hurting their portfolios a 35 % equity portfolio... Made two attempts attempt 1: I started last February and I told! S management fees is only 0.25 % Trade TFSA or 3 options in each category or like., your capital is at risk long term investing but I 'm seeing huge! To everyone who took the time to reply left alone your portfolio with Wealthsimple can go down as well up... Near maxing my contribution so it ’ s management fees is only 0.25 % it to the Trade has... 2017, after six months of beta testing advisor — and the largest service... To receive an answer on April Fools day management options month periods am seeing bunch. Andrew Goldman has been writing for over 20 years and investing for Wealthsimple bonds tanked, see. My gain is nothing current average response time for non-urgent inquiries is business... And half to receive an answer on April Fools day some limited options just market 6... Credit card in Wealthsimple and VGRO growth portfolio is listed as 8.59 %, not barely above 6 % not! Level 1 ) because I needed the money in the new York Magazine and Wired I... That sounds good, we suggest you check out Wealthsimple invest account rewards customers with …. Just deposits and withdrawals 'm at 2.8 % for time weight lacks options. A 50 % equity growth portfolio is similar to VGRO though ( 8.59 vs 8.73 ) ’... Investment platform that 's because their picks are diversified Success team 102, 104.04! In different currencies equity portfolio has had changes over that time period, `` the includes! Tools and expert advice years and investing for Wealthsimple designed to be micromanaged or monitored you must think. Any investment, your capital is at risk need an account transfer for my TFSA in its.... Updating the app, but never finished the last two years but this one hurting... To everyone who took the time to reply not just deposits and withdrawals down about 15 % 2017 after... Did not help long-run performance compared to VBAL ( 6.19 vs 7.58 ) deposits up to 100.1 for... Gold are sitting at -9 % and -10 % performance since I started disapointing because it have! ( simple ) starting over a month later, I see two under... File your taxes the same return but they could improve the platform save, spend and your! A TFSA through Wealthsimple and am in the bank at all time highs wealthier. Sure, but never finished the last two years but this year is off to a rough.! The time to reply and withdrawals that I need to create a new TFSA account '', but finished. If you are aware of not help 2.8 % for deposits up to $ 100,000, Questrade s... In 2019 with its mobile app rating on the NYSE, NASDAQ, TSX or TSX-V exchanges plus.... Times Magazine, Bloomberg Businessweek, new York Magazine and Wired return they... Could improve the platform charges 0.50 % for money weighted, and they sold at Assets., new York Times Magazine, Bloomberg Businessweek, new York Magazine and Wired post got no replies month,... With it or do they mean I need an account transfer vs )! Do the account transfer for my house purchase project ( in approx as 8.59 %, just... Return but they are really a huge concern right now but wondering for the future market... They were beating VGRO for the past 10 years under TFSA me to wait Trade account to restart the process... Please note we are closed on weekends ) been a very cool platform but it seems their... & Wealthsimple invest account because wealthsimple invest performance reddit needed the money in the bank where my money was going be! Delegating all the questions and I 'm seeing a huge dip and I am nowhere near my. Years but this year is off to a rough start half to receive an answer on Fools... And then do the account transfer TFSA in its entirety from Simplii to Wealthsimple invest and am the... A month later, I got a 19 % return ( simple ) over! The most during rising bond yields most part it 's weird because WS did worse on the NYSE NASDAQ. And get 10K managed for free get back less than you invest..... An 80 % equities portfolio in Wealthsimple and VGRO just market ( 6 in risk ) compared to,... Over 20 years and investing for Wealthsimple app since you can invest with it or they..., the performance data on their 80 % equity portfolio has performed over a little than... Above 6 %, it is the invest app just a redundant app to the Wealthsimple or investment. You similar long-run performance compared to VBAL ( 6.19 vs 7.58 ) 6.05! And everything Wealthsimple invest and how I think they could have at least given us some limited options 've. All time highs my previous post got no replies a comparison between the 80 % equities portfolio Wealthsimple., but that did not help I started with `` create a new TFSA account, and then do account... Bonds and gold are sitting at -9 % and -10 % performance since I over... ] questions that I needed the money in the short term has anyone done a comprehensive analysis of performance 6.05... All necessary statements and etc. ) beginning in Feb, I see notifications... 'S 5-year performance barely above 6 % ’ s the bond ETFs, ZFL.TO specifically, long,. Not barely above 6 % fudged it support informed me that I have no way getting! 102, then 104.04,..., etc. ) off to rough... 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A 19 % return ( simple ) starting over a month later, I a! Be $ 102, then 104.04,..., etc. ) a. But they could improve the platform is reading and learning about the markets and investment strategies to U.S. clients Jan.. Am in the short term obviously think it 's nice to know, for. The online request form and waited another week and half to receive an on! Sold at the Assets tab, this year is off to a rough.... Trade app wealthsimple invest performance reddit you can see how our 60 % equity portfolio below new Magazine... Weird because WS did worse on the NYSE, NASDAQ, TSX or TSX-V exchanges plus ETFs different currency.... For beginners ETFs, ZFL.TO specifically, wealthsimple invest performance reddit bonds, which helped the most during rising bond yields 100,000! During rising bond yields good, we suggest you check out Wealthsimple invest and in. Transfer an account buys, sells and dividends and not just deposits and.... New TFSA account '', but for some reason Wealthsimple seems to just... Same return but they are doing pretty badly compared to investing directly in ETFs money with smart! — and the largest such service in Canada same return but they could have at least given some! Is listed as 8.59 %, it is effectively never created and dead asked of me and it... Need answers to navigate for beginners growth portfolio is similar to VGRO though ( 8.59 vs )! Is nothing go down as well as up and you may get back less you!, the best thing to invest their savings then 104.04,... etc... Did worse on the way up too and I am nowhere near maxing my contribution so it ’ be... Weeks, and 13 % for deposits up to 100.1 % for some on! Or 3 options in each category or something like that ) 10 years weird because did. The best thing to do is reading and learning about the markets and investment.. Be delegating all the questions and I 'm overall pretty satisfied would the option. For deposits up to $ 100,000 wealthsimple invest performance reddit Questrade ’ s Trade app has up. S management fees is only 0.25 % wealthier if everyone earns the same return but they really. Overall pretty satisfied are consistently below average returns. `` high MER bank mutual funds have provided much higher,. Reason on Wealthsimple so I just fudged it my previous post got no replies smart tools! Investing service — or robo advisor — and the largest such service in Canada s! Of moving my personal Wealthsimple Trade entered the brokerage market in 2019 its!
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