Whose responsibility is collecting KYC information and assessing suitability?
Wealthsimple is the portfolio manager on all client accounts and is responsible for collecting KYC information and assessing suitability. As the advisor, you still manage the relationship with each individual client and are main point of contact for non-securities advice.
How do the fees work?
You set the fee your client pays. Wealthsimple charges the client a static 0.35% management fees. The advisor can set their own fee, up to an additional 1.15%, as agreed upon between the advisor and the client. There are no other setup, maintenance, or administration fees.
Can I use my own products?
Wealthsimple for Advisors can be used with sub-advisors who want to offer their own model portfolios to clients. Contact us at firstname.lastname@example.org for details.