Wealthsimple
Business Profile
Core Value Proposition
Wealthsimple provides smart investing products and dedicated financial planning and advice services to build long-term wealth, including low-fee managed investing, commission-free trading, and high-interest chequing and savings.
Target Customer
{"Canadian individual investors seeking low-cost, diversified investing, crypto access, and optional advisor-led wealth management","Canadian employers and HR/payroll teams seeking group savings plans (GRSP, TFSA, FHSA, etc.) for employees","Financial services brokers and consultants looking to partner with Wealthsimple for business offerings"}
Key Differentiator
Combines ETF-based, low-fee portfolios with commission-free trading, crypto access, high-interest chequing/savings, and integrated employer group savings (GRSP) solutions, plus HR-system integrations and access to advisor-led wealth management.
Implementation Timeline
{"Group savings transfers typically take 4 to 6 weeks","Onboarding for business group plans occurs after electronic sign-off with subsequent member invitations"}
Pain Points
- 1High fees and complexity of traditional investing
- 2Limited access to diversified, professionally managed portfolios for a broader audience
- 3Disjointed access to banking, saving, investing, and crypto within a single platform
Key Features
- 1Self-directed investing: 100% coverage of Canadian and US stocks, 14,000+ stocks/ETFs, commission-free trading, 100+ cryptocurrencies
- 2Managed investing: professionally managed, customizable portfolios
- 3Chequing: high interest (up to 2.5%), no monthly fees
- 4Crypto: buy, sell, and stake 100+ cryptocurrencies
- 5Group savings for business: GRSP, TFSA, FHSA, DPSP with low fees and HR/payroll integrations
- 6Advisor-led wealth management: access to dedicated advisors for families with assets over $500,000
Target Customer Industries
Decision Makers
- 1VP of People
Client Results
- 13 million+ Canadians trust Wealthsimple to manage and grow their wealth
- 2$70+ billion Assets under administration
- 32% interest on chequing accounts (for premium tiers) and up to 2.5% interest on chequing
- 40.4% (Premium) to 0.2%-0.4% (Generation) management fees on managed investing accounts
Competitive Advantages
- 1Low fees: most group portfolios pay less than 1% in management fees
- 2ETF-based portfolios (instead of traditional mutual funds)
- 3Commission-free trading for self-directed investing
- 4Access to 100+ cryptocurrencies and 14,000+ stocks/ETFs
- 5High-interest chequing with no monthly fees (up to 2.5% AM) and CDIC/CIPF coverage
- 6HR-system integrations (Rippling, Dayforce, Workday, Humi, BambooHR) for streamlined admin
- 7Dedicated advisor access for wealth management
Key Benefits
Case Studies & Success Stories
Humi â GRSP implementation with Wealthsimple
Courtney Lee, VP of People at Humi, says Wealthsimpleâs GRSP enhanced their benefits program while reducing plan costs and management fees; employees gain access to low fees, diverse investment options, and easy plan transfers.
Additional Product Information
Product Description
Wealthsimple offers a suite of personal and business financial products, including low-fee managed investing, commission-free self-directed investing, high-interest chequing and savings, crypto access, and wealth management/advisory services; plus group savings plans for employers and HR-system integrations.
Target Market
Individual Canadians seeking low-cost, accessible investing and banking solutions; employers seeking group savings plans for employees; brokers/consultants partnering with Wealthsimple for business solutions
Unique Value Proposition
A single digital platform delivering low-cost, comprehensive financial servicesâfrom self-directed and managed investing to high-interest chequing/savings and group savings plansâbacked by reputable coverage, crypto access, and employer integrations.
Technical Requirements
Integrates with major HR/payroll systems (Rippling, Dayforce, Workday, Humi, BambooHR) for group savings onboarding and administration
Pricing Model
Group savings: employees pay less than 1% for most Wealthsimple portfolios; transfers often incur no transfer fees (Wealthsimple may cover transfer fees). Chequing: no monthly fees with up to 2.5% interest; Premium/Generation managed investing fees range from 0.4% (Premium) to 0.2%-0.4% (Generation). Self-directed investing: commission-free trading.
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