If you’ve spent any time exploring modern financial tools in Canada, you’ve almost certainly come across Wealthsimple. In just over a decade, it’s grown from a small robo‑advisor startup into one of the country’s most influential financial platforms — a place where millions of Canadians invest, trade, save, spend, and even file their taxes.
A Quick Look at the Company
Founded in 2014 and headquartered in Toronto, Wealthsimple is backed by Power Corporation of Canada, one of the country’s largest financial groups. Today, the platform manages well over $100 billion in assets and continues to expand its reach every year.
What started as a simple automated investing service has evolved into a full ecosystem designed to make financial tools accessible, transparent, and easy to use.
What Wealthsimple Offers
Wealthsimple’s strength is in its breadth. Instead of juggling multiple apps, users can manage nearly every part of their financial life in one place.
1. Managed Investing
Wealthsimple Invest remains the company’s foundation. It offers diversified ETF portfolios tailored to different risk levels, plus more advanced options like:
- Income portfolios
- Direct Indexing
- Summit portfolios blending ETFs with private equity and private credit
These portfolios are built for long‑term investors who prefer a hands‑off approach.
2. Self‑Directed Trading
Wealthsimple Trade introduced commission‑free trading to Canada — a major shift in the industry. Users can buy and sell:
- Stocks
- ETFs
- Options
- U.S. equities with extended 24/5 trading windows
It’s designed for people who want more control and flexibility.
3. Crypto
Crypto trading is integrated directly into the app, allowing users to buy and sell digital assets without needing a separate exchange.
4. Banking & Spending
Wealthsimple now offers:
- A spending account
- A high‑interest savings account
- A Visa credit card launched in 2025
This pushes the company closer to becoming a full‑service financial institution.
5. Taxes & Planning
Wealthsimple Tax lets Canadians file their returns directly through the platform. Acquisitions like Fey and Plenty have expanded their financial planning tools, giving users more insight into long‑term goals.
Who Wealthsimple Is Built For
Wealthsimple organizes its services into tiers:
- Core — everyday investors
- Premium — $100,000+ in assets, with perks like USD accounts and tax‑loss harvesting
- Generation — high‑net‑worth clients who need deeper planning
The common thread: simplicity. Wealthsimple aims to remove jargon, lower fees, and make financial tools approachable for everyone.
Why Wealthsimple Matters
Wealthsimple isn’t just another fintech app — it’s one of the most significant players in Canada’s financial landscape. It has:
- Pushed the industry toward lower fees
- Made investing accessible to younger and first‑time investors
- Doubled assets under administration in 2025
- Added more than 650,000 new clients in a single year
Its rapid growth and expanding product line have led many to describe it as a potential “next big bank.”
Hey readers, Wealthsimple is giving away a condo every week this month, including a $1M+ condo as the grand prize.
Sign up with my code QEIWB7 and get $25 when you fund any account. Every friend you refer earns 100,000 entries, up to 300,000 max. T&Cs apply.
https://www.wealthsimple.com/invite/QEIWB7.
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