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. 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. Smart 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. Here’s what you need to know about investing with Wealthsimple, including its various product offerings and how it all works.
Investing with Wealthsimple: quick overview
Easy setup: It takes just a few minutes to create a Wealthsimple Invest account. After inputting your personal information, including your social insurance number, you answer a survey about your finances and investing interest. 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…