Wealthsimple is a robo advisor, which is a fancy way of saying it is an online application that is capable of providing automated financial services and financial guidance. The goal of this particular robo is to provide Canadians with a simple way to access better financial services with an affordable and upfront price. This company and others like it are changing the way that the financial industry works, and that has the potential to be a very good thing for investors in Canada.
What Does Wealthsimple Do?
This company promises quality long-term investment management for Canadians who want to start investing their money better. What separates them from the competition, especially the traditional competition, is that they can do it without massive fees and without requiring high account minimums. Depending on your risk tolerance for investment and your savings goals, this robo can help to determine the best way for you to use your investment money.
When you start working with them, they will explain how the money will be split up into different investment areas that you have agreed to. One of the benefits of allowing the robo advisors to disseminate the money into areas that they feel will be best suited for your investment style is that it takes away all of the hard work from you. You can rely on the expertise of the company and the precision of their application to ensure that your money is going to the right places in an effort to provide you the best possible results.
Don’t worry; you won’t actually be relying on a robot to answer your questions. You will still be able to get in touch with the human advisors from the company, who can answer just about any question you might have.
Why Should You Choose Wealthsimple Over Other Companies?
Even when it comes to other robo advisors, you will find that Wealthsimple is one of the best possible. They are the largest of these types of advisers in Canada, and they have a platform that is well-designed and simple to use. Even those who know little to nothing about investing should not have a problem getting started. You can sign up right through the app and the onboarding process is the simplest you will find. It is easy to track your investments, and one of the best features is that they have a $0 account minimum. This means you can start setting up right now, even before you put in a single penny.
Is there anything about the company that could be a potential turnoff? While the company does have extremely low fees, it is important to note that they do not have the lowest fees on accounts under $100,000. Still, they are some of the lowest, and for most people, this should not be too much of an issue.
Results of the Wealthsimple Review
Overall, you will find that this company truly is one of the best options in Canada for a simple and smarter investment platform. It takes away the hard work from the user, it offers a simple interface, and it is highly secure. You can check out their site and, because they do not have an account minimum, you can even set up an account now and get a feel for how the system works.
Whenever you are doing anything with your money, you need to make sure that you are spending it properly and that you are making wise investments. Take the time to truly understand how the platform works and what it can do for you.