Wealthsimple Review: Wealthsimple Makes Investing Easy

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wealthsimple review

Wealthsimple Promotion

If you want to get your first $10,000 managed for free, sign up using the button below. There’s no account minimums. So there is literally no reason to not give this a try. Sign up now to take advantage of this offer.

Wealthsimple Makes Investing Easy

Wealthsimple is an online professional investing service in both US and Canada, also referred to as a robo-advisor.  They use low cost index fees and smart technology to keep your investment costs low. Instead of trying to beat the market they invest in the market as a whole. This diversification allows you to avoid putting all your eggs into one stock and can smooth out your returns and minimize your losses. A lot of people try to time the market, and end up losing a lot of money. 

Wealthsimple makes investing easy.

What is a robo-advisor?

A robo-advisor is an online, automated portfolio management service. Because these companies use computer algorithms — a set of rules to choose appropriate investments based on your risk tolerance and time horizon — robo-advisors can offer their services for a fraction of the cost of a human financial advisor.

That lower-cost management, combined with features like automatic portfolio rebalancing and tax-loss harvesting, can translate into higher net returns for investors. A robo-advisor is a good fit for you if you prefer to be largely hands-off with your investments — letting someone else do the work of building and optimizing your portfolio — and you don’t have the kind of complex financial situation that requires a direct relationship with a human financial advisor.

To help you pick the best robo-advisor for you, we are covering a Wealthsimple review which is a highly regarded robo-advisor.

Who Wealthsimple for?

Wealthsimple is for people who are investing for the long term. It’s best for people who are contributing regularly to their investments (remember you should be doing some investing for your future every month) commonly known as dollar cost averaging. This is when you are putting in money on a regular on-going basis.

Wealthsimple Fees & Pricing 

Wealthsimple has no account minimum, which should undoubtedly attract new investors who might not have enough cash to reach higher minimums charged by some other financial advisors.

As for fees, the robo advisor charges 0.5% on all accounts with $100,000 or less (however, the first $5,000 is always free). After that threshold, the account type changes to Wealthsimple Black, which has a 0.4% fee and unlocks additional features.

The Best Part About Wealthsimple

It’s so easy to get started. You can do it all online and you don’t have to go in anywhere and sign papers. It’s simple. I signed up and it took me under 5 minutes and got my first $10,000 managed for free.

Wealth Simple Promo Code

Wealthsimple vs. Other Robo-Advisors in 2019 (Top 3)

The Best Robo Advisors in 2018 are Wealthsimple, Personal Capital, and WiseBanyan as they provide low-cost investing that’s as simple as point, click, invest. 

Wealthsimple Promotion

If you want to get your first $10,000 managed for free, sign up using the button below. There’s no account minimums. So there is literally no reason to not give this a try. Sign up now to take advantage of this offer.

Disclaimer: My Millennial Guide has entered into a referral and advertising arrangement with Wealthsimple US, LTD and receives compensation when you open an account or for certain qualifying activity which may include clicking links. You will not be charged a fee for this referral and Wealthsimple and My Millennial Guide are not related entities. It is a requirement to disclose that we earn these fees and also provide you with the latest Wealthsimple ADV brochure so you can learn more about them before opening an account. 

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Brian Meiggs
Brian is the founder of My Millennial Guide and is an entrepreneur who has spent the last few years creating websites and building brands. He has been quoted in several online publications, including Yahoo! Finance, NASDAQ, MSN Money, AOL, Discover Bank, GOBankingRates, Student Loan Hero, Fit Small Business, Cheapism, SmartAsset, Bankrate, RISE Credit, AllBusiness, Cheddar, Commonbond, Niche, Rewire, Credit Donkey, Debt.com, and more. He uses the free Personal Capital app to manage his cash flow and net worth.