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  Wealthsimple SRI

Wealthsimple SRI

in Investment Advisors from Wealthsimple

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Wealthsimple SRI

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Highlights
Minimum Initial Investment $0
Management Fee 0.40% - 0.50%

Wealthsimple SRI Review

Wealthsimple is founded in 2014 and based in New York, NY.

Wealthsimple Pros & Cons
The Good The Bad
  • Trades in low-cost ETFs.
  • Access to human advisors.
  • Direct indexing.
  • Tax-loss harvesting available.
  • Wide selection of investment options.
  • Broad selection of account types.
  • Competitive investment expense ratios.
  • No minimum amount to open an account.
  • Wealthsimple Black level clients (and a travel companion) receive unlimited access to over 1,000 airline lounges around the world.
  • Among the Socially responsible investments offered are Gender Diverse companies, Local Initiatives, Affordable Housing, Cleantech, and Halal portfolios.
  • Promotion: $10,000 managed for free the first year.
Wealthsimple FAQ

What fees does Wealthsimple charge?

Wealthsimple uses a fee-only model.

This means Wealthsimple gets paid a flat fee regardless of what financial products or services you use. It also means they have a fiduciary responsibility to their clients. Instead of making money on trades commissions or selling products, they recommend an asset allocation and get paid a flat-fee or a percentage of the assets under administration. That requires that they act in their client’s financial best interest at all times.

Wealthsimple SRI Fees
Description
Monthly Fee $0
Annual Fee $0
Account Termination Fee $0
Account Transfer Fee $0
Fee Based?
Investment Expense Ratios 0.09% - 0.13%
Management Fee 0.40% - 0.50%

What management fees does Wealthsimple charge?

Wealthsimple charges an annual management fee that starts at .40% and ranges up to .50%.

Many financial advisors charge based on how much money they oversee by using a fee-structure called “assets under management,” or AUM. For instance, a 0.40% fee translates to $4 per year for every $1,000 an investment advisor manages. Management fees, also known as maintenance fees, cover the operating costs of investment advisors and are typically deducted from your account every month or quarter. The management fee does not cover the underlying expense ratios of the investment vehicles purchased by investment advisors.

What are the investment expense ratios of Wealthsimple?

Hiring an investment advisor with competitive investment fees is one of the most important steps to maximizing your portfolio's performance. Investment expense ratios can vary drastically depending on the types of accounts and assets involved. A survey by the ICI puts the average expense ratio for actively managed funds at 0.76% and indexed funds at 0.08%. The investment expense ratios of an investment advisor will vary depending on the type of assets they invest in and whether they attach additional charges to fund fees.

Wealthsimple charges an investment expense ratio that starts at .09% and ranges up to 0.13%.

What features does Wealthsimple offer?

Access to human advisors: Robo-advisors are great at keeping costs down and helping investors with modest balances make good investment choices. However, it is also nice to have access to human financial advisors when you need them.

Automatic rebalancing: Having a good balance of investments is important. But a well-balanced portfolio is not something you can set up and forget. Markets are constantly changing and can easily throw your portfolio out of balance. Wealthsimple allows you to rebalance your investments back to your target asset allocation at set intervals.

Wealthsimple is registered with the Securities and Exchange Commission, or SEC. Registered investment advisors are required to provide detailed information on the financial and legal status of the company and its staff. This allows investors to examine closely any conflicts of interest and look into the background of the company and its advisory team.

Wealthsimple offers the option of direct indexing. Direct indexing allows investors to buy individual stocks in all the companies included in an index without having to pay a trading fee for each one. Among other things, this allows investors to take advantage of tax-loss harvesting tools at a scale that is not possible with traditional index funds.

What type of investment accounts and asset classes does Wealthsimple support?

Wealthsimple offers the following types of assets and account types.

Accounts Supported
Supported Options Unsupported Options
  • Individual Non-Retirement Accounts
  • Joint Non-Retirement Accounts
  • Roth IRA
  • Traditional IRA
  • Rollover IRA
  • SEP IRA
  • Trusts
  • 529 College Savings Plans
  • Employer Sponsored Plans
  • Custodial Accounts

These are the investment options Wealthsimple offers its clients.

Investment Choices
Supported Options Unsupported Options
  • Stocks
  • Bonds
  • International Stocks
  • ETFs
  • Options
  • Mutual Funds
  • FOREX
  • Futures
  • Pink Sheets / OTCBB
  • Real Estate
  • Startups
  • Marketplace Loans
  • Cryptocurrencies

What is the minimum amount you have to invest to open an account with Wealthsimple?

Wealthsimple does not have a minimum amount to open an account.
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About Wealthsimple SRI

Feature Breakdown

Monthly Fee $0
Annual Fee $0
Account Termination Fee $0
Account Transfer Fee $0
Investment Expense Ratios 0.09% - 0.13%
Fee Based
Management Fee 0.40% - 0.50%
Accounts Supported
  • Individual Non-Retirement Accounts
  • Joint Non-Retirement Accounts
  • Rollover IRA
  • Roth IRA
  • SEP IRA
  • Traditional IRA
  • Trusts
Investment Choices
  • ETFs
  • International Stocks
  • Stocks
  • Bonds
Investment Features
  • Access to human advisors
  • Automatic Rebalancing
  • Daily Tax-loss Harvesting
  • Direct Indexing
  • SEC Registered

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