I had a tax file and it worked well, was not expensive. Until I had a problem! they did not file my taxes on time. I contacted and was told quite bluntly that since I was not a large 'paying' client my concerns were at the bottom of the pile!!!!!! Just to be clear while I was not an investment client i did pay for the tax service. I filed a complaint but it was not addressed. A second complaint reimbursed me for my tax file. but still no real contact. I closed the account AFTER copying my taxes to submit to CRA. read more

They lock up your money for NO REASON, and just cancel your account if complain, and can't get your money out of the Bank coz don't want to deal with you! I don't recommend this online Bank at all! Yes, must unlock account and give 30 days to remove your funds! They give No 30 days, it's instantly locked! Unlock the account! read more

I thought it was just me having had terrible experiences with their support and app, but after reading the other reviews, at least I know it's not personal. I was in a chat queue for over an hour until I gave up on it. I called after the text chat was initiated and the call got through while the text chat kept resetting to #184 in the queue. The issue was that an order was stuck with a status of Cancel Pending. Eventually the phone support person told me it was referred to their tech support, and it was eventually "cleared" by having my trade execute at 2.5% below where the market price was when they cleared it. I contacted tech support again and was told that the market is a "dynamic environment", so I guess that's their excuse for stealing from me. read more

Waste of time; used for two years for tax filing; my phone number has changed now so I can receive their code; tried support took forever and sent me to another support person who asked the same questions; refused to change my phone number so I am in fact locked out! They must be suicidal in their business approach if this is how they think they are keeping customers. read more

This is a TERRIBLE company to deal with. 1. All the customer service is outsourced overseas and nobody speaks one of Canada's national languages as their first language. It's virtually impossible to understand them so how could they understand me? 2. The company remains well hidden. While one can find their Head Office address, their phone number and other contact information is not published. I wonder why? Maybe it's so the thousands of complaints are pushed to the incompetent "customer success" team? 3. *** They don't follow instructions. *** I instructed them to transfer all my TFSA at another institution to a WS TFSA savings. They decided to put it in a WS TFSA investment portfolio. First they held the funds for two weeks. i was paid no interest. Then the funds went into the portfolio account WITHOUT MY CONSENT and just as the markets were tanking. I lost $2800 in 48 hours. PLUS they had the NERVE to charge me the 0.5% management fee. 4. I decided that they had done more damage in 3 days than the 18 months I had with another instutition I had recently fired and therefore tried to move my funds out of WS. That was two weeks ago and it's still not complete. First I tried a link account transfer and it was rejected because my name was not the same as the name in the account where the funds were going to. Obviously their AI was at work because someone at WS entered my name incorrectly when my account was setup. Now they want me to present documentation as proof of my identity. I had to do that to open the accounts. WTF! Then I started transfering out $5K at a time as eTransfers. The current eTransfer was initiated 24 hours ago, they still have my money but have not completed the transfer. After 24 hours? It should have been automatic and taken no more than 30 minutes. I did two eTransfers before this without issue. Obviously they have decided I cannot have my money nor can I make any money from my own funds. They clearly have the funds in their possession but it's not "in" my account so it's not making any interest. They are using my money to make money. This company is TOTALLY INCOMPETENT. I have filed a formal complaint with the OSC - Ontario Securities Commission. If you want an investment company that is entirely unreliable and will cost you money, this is your best choice. read more

they are not a human enough i beleive i had teriible experience with them my account got hacked and $6000 got stolen and they are still verifying it's been five months and after that at the end they closed my though it was not said to me I them five times not close to my account I will wait I have all the recordings and stuff their account team hanged up on me every time and they never try to dissolve this issue I even gave them a lot of proof which still I Got the OTP and stuff somebody's trying to hack my account but after I get this issues they don't give a shit I will see them legally I will not let go my hard-working Money read more

They have such a long wait time for people who are trading and want to use the app more. This app is not very well done. For example in this photo you can see that I have canceled a limited buy for this stock because I wanted to buy it at a different price but for more than 15 minutes they held my money and I wasn't able to buy anything else because they froze my account for canceling the trade and this has never happened on any other trading app I've ever used. Just on wealthsimple read more

Wealthsimple - Investing Near Me - Toronto, Ontario

Wealthsimple Transaction/Activity History showed they gave me my 4.5% Interest deposit. However, glitch somehow did not reflect the interest into the main account balance. It shows on activity as posted but it did not reflect to the balance. Despite Wealthsimple fixing this if I didn't know to keep track of my finances I would of lost my $386 based on total deposit. Now I don't trust my money in WS. I do not have time to chase them for the interest that's owed to me. Bad app, bad software... read more

Do not use this service. Not enough Support agents. I was in qeue on their online chat as only person in qeue and wited 30 mins. I tried calling in at same time, and also waited over 30 mins. This is terrible terrible customer service. 10-15 mins is industry standard. I know I worked in called centers. read more

Interface is super clean. This investing option was designed for people that want to invest simply and forget it. It's perfect for busy bees out there without having to constantly check stock prices and rebalance. The drawback is the perk change. If you invest $100K, you get a Black account which comes with a free year of the Priority Pass Lounge Program's Prestige plan. However, it is only for you, which makes it a loner's perk if you are unwilling to pay the hefty $32 to have a guest at the airport lounges. It would be great if they left it under the old plan, which let you bring a guest for free. Reference: https://help.wealthsimple.com/hc/en-ca/articles/115012745828-Priority-Pass-Program-Overview read more

I have been with this company for a while. I requested a partial withdrawal to another brokerage account on June 4th. Here I am on June 17th and the money is nowhere to be found. They tell me they sent a wire a day ago but the money has not been received and they do not know where it is. As it turns out, the wire was not sent as they said it was. More approvals from above required before it can be sent. I am closing my account. There is no way it should take over two weeks to receive a withdrawal. After ten days, they sent me a docusign email to be completed. This should have been done on day 1. I have lost about $5000 plus in returns during this period where my money is missing and unavailable. When I call for help, I am speaking to a person in a room with so much background noise (other people talking) I can barely hear them. This company is anything but Wealthsimple. I believe there are far better and more reliable alternatives. You get what you pay for or do not! I am now at day 15 and am becoming alarmed. I am out $252000 and they cannot figure where my money is or how to get it to me. They failed to follow the given wire instructions and my losses from opportunity cost are rising. All I get is emails with a new excuse every day or two. I have been told multiple times on multiple days that wire was sent. I have seen no evidence that it is true and have not received a dime. Today I received a wire receipt which show the funds will not be available to me for 15 days more plus. Absolutely unbelievable and they are still charging me investment fees and wire fees!! It occurred to my that this is how victims of a PONZI scheme feel. Wealthsimple may in fact be a Ponzi scheme...at least from my experience. It has now been 16+ days since I requested a withdrawal and I have received apologies, admissions of human errors, excuses and plenty of emails. The parade or errors, excuses and apologies continues! I am trying to close my account out but the lack of response and reality that I may suffer a huge loss are beginning to sink in. Steer clear...... read more

I'm having a great experience so far. They've taken the difficulty out of investing. I think this is the future.

It is a relatively new banking option but a very good cost efficient business model MADE FOR THE CUSTOMER! Truly there is no hidden charges, the new "CASH" account which is also new and rolling out features let's you make .9% interest on all money in that account. It can be used just like a chequing account like any other bank. Imagine the second your pay enters that account your money is always working for you, now it's a reality! They also pay ATM fees for any withdrawals made in Canada and got your covered for using your card outside Canada by waiving most currency exchange fees. The investing is easy! You can let them manage it for a small fee of .4% of sell price (which is incredibly low compared to 99% of virtual brokers). No fee if you manually invest yourself in there app and it's apps are very easy to navigate and use as well. A great alternative to big bloated banks that keep raising costs of having an account with them or hitting you with unnecessary fees. Being with Scotiabank they make you poorer if you go into overdraft with a 25$ CAD overhandling fee (but they don't actually do anything!!!) you still have to go in and move money around if you misjudged a payment. Instead Wealthsimple will let you know that it's low and not charge a random "handling" charge. They just ask you kindly to action it or else they'll close down the account of course. Only downside to me is pre-existing debt accounts they cannot take over, but is understandable since there more of an investing and save money account bank. They really push home save your money for a brighter future! And in that future i'll be able to pay off my debt account with Scotiabank and completely migrate to wealthsimple who have grown larger and better from there initial start :) P.S. Some folks commenting below have had issues with lengthy wait times for withdrawals and such but they are much better now. Small growing pains for a new company, they have a lot of calls at the moment during Covid-19 so expect the usual long wait times like any other business. read more

Popr customer service... long delays.. I'm surprised the ombudsman hasent made a investigation on how poor this places financial services are... read more

I use this ''robo-advisor'' since 2016. At the beginning, I was skeptical about the company and these ''robo-advisor thing'' but after reading about it deeply, I decided to invest a bit and give it a try. I was really surprise to see how fantastic and clear the mobile app / website were easy to use, but as well, see all the details concerning the differents ETF into my portfolio. Why do all the big banks in Canada don't have mobile app like Wealthsimple ? You can see everything, the graphic, the fund fees, the allocation, the market value & the performance. Well done ! I just love it. You can open an account for your RRSP / TFSA / RESP / Personal account (none-registered). If you recommend to your friends/family, you can have discounts, if not, they just charge 0,5% of fees and they automatically rebalance your account. Big banks are kind of lying on purpose to don't show clearly everything so you just ignore all and you are kept in the fog voluntary about your funds informations. Wealthsimple is part of my financial strategy for the longterm. It focused on attracting millennials but as a member of the Generation X, it's very useful for me. Wealthsimple is offered in English / French, has more than 65 000 clients and 2 billion $ of assets under management (2018). I'm a very satisfied customer, try it and see your money grow, think about the future ! *ps: They are now offering a ''high interest saving account'' with 1,95%, much better than your bank! **ps#2: They will introduced soon WealthSimple Trade, a free brokerage plateform to buy/sell your stocks & ETF's ! 5/5 client since August 2016 read more

I have opened an account on the 1st of April and transferred 1000$, but they were some issue to confirm my bank account and by Friday the 10th finally it was accepted which was super long time in my opinion, I did another transfer of 500$ on the 10th and since now the 16th of April nothing is done, either my first transfer on the 1st or the second one the 10th Went trough, I called many times since and been holding the line for more than a hour and no one pick up in a week, really bad first impressions especially with a company dealing with your money ... If they are not event capable of answering their phones I don't even trust them 1 second of handling my money. I am just trying to call them to cancel both transactions now but customer service are not even available to answer ... I will try to again tomorrow to reach them but if not I will just close my account and retransfer all my money back in my bank account as soon as their confirmed both transactions. Definitely not recommend this company, 16 days to open an account and no customer service back up in case of issue. read more

Terrible Service. Wealthsimple loves overcharging you on every stock so that you end up spending anywhere from 5-20% more for a stock than it costs. Use Questrade if you are actually interested in investing with a platform that has reasonable fees read more

DRASTIC INCREASE IN TECHNICAL ISSUES AS OF RECENTLY.*** (Early March 2020) Im a 1.5yrs active user now @WealthSimple and it's now safe to say: It's the worst trading platform ever. You just can't trade on active/volatile stocks, 15+min delay plus many other values spikes block mechanism in their system will LITTERALY prevent you from earning big on a daily, it will make you lose trading actively. Trades are based on live stock price, but their stop limit function calculates based on the retarded, 15min+ delayed platform values aka. you cant even put a stopper on a volatile stock you just CAN'T TRADE, it's passive-long-term only. Constant crashes, technical difficulties and display errors, soon you will have no idea what your true balance is and will get lost in transactions. I even lost half my investments through their system failures (all of a sudden it wouldn't recognize my active shares of a stock, I couldn't pull out while it crashed, couldn't even withdraw to my cheque account for a WHOLE day) im actually in negotiations right now and they are slowly refunding me, painful process after I had to send a Letter of Formal Notice. STAY AWAY from their trading platform at least for now, it is nowhere near functional for serious traders, I'm amazed it's even legal, to be honest. read more

6 months in and I'm enjoying the service so far. Answers to my questions are prompt and thorough.