This Toronto-based fintech continues to attract Canadian investors with its low-fee robot advisor, discount brokerage and money management services.

Since launching in 2014, Wealthsimple has developed a strong reputation for offering online, easy-to-use, low-fee financial services. It has come a long way since its humble beginnings exclusively as a robot advisor, now known as “Invest”.

If you have used Wealthsimple in the past or used some of its products, know that while Invest, Trade and Cash were offered under separate apps, they are now all part of just one Wealthsimple app, which has made the user experience more convenient. Only Wealthsimple Tax maintains a separate app/platform.

Both Wealthsimple Invest and Wealthsimple Trade are excellent low fee investment options. Choosing between the two services comes down to three factors:

• How confident you are in managing your money on your own.
• How much time and effort you want to put into managing your investments.
• Whether you are willing to pay higher fees for a truly hands-off option.

If you are not interested in choosing your own investments, “Invest” is Wealthsimple’s robot advisor, and it could be the way to go for you. Once you create an account, you will be recommended with one of three diversified portfolios of exchange-traded funds (ETFs) based on suitability factors such as your financial goals and risk tolerance. pretty much everything is on autopilot once you fund your account.

The robot advisor service from Wealthsimple is ideal for novice investors or those who are  not comfortable managing their own investment portfolio. The algorithm recommends a portfolio for you based on your financial goals and risk tolerance.

Clients spend a few minutes answering questions online about their comfort level with risk, age, and investment goals. Your answers determine which portfolio is recommended: Conservative, balanced or growth.

About Wealthsimple Crypto exchange

Wealthsimple is a reputable company that makes it easy for Canadians to invest in cryptocurrency. It is one of the best crypto exchanges in Canada. In one year, they have increased the number of cryptocurrencies available and in future they will allow customers to move crypto to private wallets. Wealthsimple is fast becoming a great place to trade crypto, but their fees are some of the highest around. If you do not mind dealing with seed phrases and you are looking to buy a large amount of crypto, then it would be far cheaper to use a traditional crypto exchange. However, if you are looking to invest a little bit of money, want to keep all your investments in one place, or just want an easy and secure way to gain exposure to crypto, then Wealthsimple is a good choice.

Michel Ouellette JMD, ll.l., ll.m.

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J. Michael Dennis, ll.l., ll.m.

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Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only.

When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. Our website uses referral links to various crypto exchanges as a means of monetization. We appreciate it if you choose to use the in-article links, but the decision is ultimately yours.