This website is not affiliated with Wealthsimple. It's a guide on how you can invest up to $36,200 of your hard-earned cash with $0 in management fees using Wealthsimple bonuses.
What is Wealthsimple?
Wealthsimple is a robo-advisor that manages investment portfolios based on intelligent algorithms with minimal human intervention (because humans are historically bad at picking stocks). They use low-fee index funds and technology to reduce the cost of traditional investing. When designing the perfect portfolio balance for you, they take into consideration your age, how much you can invest, your risk tolerance, and your goals. You then get to sit back and watch your money is grow in a diversified and regularly rebalanced portfolio.
Why should you invest with them?
- You can start investing with as little as $1, so why not?
- Automatic portfolio rebalancing: Rebalancing a portfolio means exchanging investments in order to maintain your desired portfolio balance. A portfolio that is rebalanced annually has been proven to outperform the same portfolio without any rebalancing. But trying to do this fine-tuning yourself is basically a full-time job. Luckily, Wealthsimple does it for you.
- Wealthsimple fees are 0.5%, compared to traditional portfolio managers that charge at least 1% (but if you follow all the steps in this guide, you won't have to start paying any fees for your first $36,200 for a year!)
- Talk to a real human Portfolio Manager over the phone, anytime. They're very knowledgeable and friendly, so don't be shy about asking them all your "dumb" financial questions.
Here is a screenshot from my personal Wealthsimple account, updated April 17, 2018
I've saved almost $500 in fees!
Is Wealthsimple safe?
Good question. Afterall, this could be your retirement fund we're talking about. To summarize Wealthsimple's security page:
- Over 65,000 people trust more than $2 billion with Wealthsimple
- Wealthsimple accounts are covered up to $1,000,000 against bankruptcy
- They use bank-level encryption to protect your data
- They are backed by $165 million in investment
Use these Wealthsimple bonuses to invest up to $36,200 with $0 management fees! 🙌
Here's how to get your first $15,000-$36,200 managed for free for a year.
1) $15,000 for signing up using a referral link
- Open a Wealthsimple account using a referral link: wealthsimple.com/invite/REHJQQ
- Wealthsimple will increase your limit for investing for free from $5000 (the default for all new accounts) to $15,000. The author of this website will also be able to invest an additional $10,000 without management fees.
If you want to say thank you for this website, at no cost to you, then use the referral link provided here. If you don't want to use this referral link, you can find others online and the author of this website will receive nothing. It's up to you.
2) $10,000 for transfering an existing account
If you already have an investment account with another institution (such as a TFSA or RRSP if you're Canadian), then you can transfer that account to Wealthsimple and unlock an additional $10,000 invested for free.
The account must have at least $5000 in it. Wealthsimple will cover any transfer fee that your existing financial institution might charge you. You just have to email them to let them know about the charge.
3) $1000 for turning on auto-deposits
Set up auto-deposits of at least $50/month from your bank to your Wealthsimple account to unlock an additional $1000 invested for free.
4) $100 for installing the mobile app
It doesn't get easier than this one. Simply download the Wealthsimple iOS or Android app, sign in to your account, and get an additional $100 invested for free.
5) $100 for turning on two-step verification
From your account, go into Settings > Security and turn on two-step verification to increase the security of your online account and get an additional $100 invested for free.
6) $10,000 for inviting a friend
Use your own Wealthsimple referral link in order to invite a friend or family member to sign up and start investing. You will both get to invest an additional $10,000 without management fees.