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Wealthsimple vs Nest Wealth - 2019 Comparison

Andrew Goldman

Andrew Goldman has been writing for over 20 years and investing for the past 10 years. He currently writes about personal finance and investing for Wealthsimple. Andrew's past work has been published in The New York Times Magazine, Bloomberg Businessweek, New York Magazine and Wired. Television appearances include NBC's Today show as well as Fox News. Andrew holds a Bachelor of Arts (English) from the University of Texas. He and his wife Robin live in Westport, Connecticut with their two boys and a Bedlington terrier. In his spare time, he hosts “The Originals" podcast.

Lisa MacColl is a writer, investor and former compliance consultant in the group retirement and individual wealth management fields. Lisa has written about personal finance for 14 years and currently writes about investing and investment providers for Wealthsimple. Lisa's past work has been published in Canadian Money Saver, Advisor’s Edge, CBC, and CreditCards.ca. She was a nominee for the 2015 Oktoberfest Women of the Year, Professional Category. Lisa holds an M.A. and B.A. from the Wilfrid Laurier University.

We believe that making smart choices with your money shouldn't be hard. To help you choose, we compared ourselves to Nest Wealth. And then we created this handy comparison for you - to show how we stack up in terms of key features, accounts and pricing.

About Wealthsimple & Nest Wealth

Wealthsimple is an online investment manager that combines smart technology with expert financial advice. We allow you to put your money in a managed portfolio (Wealthsimple Invest), do self-directed trading (Wealthsimple Trade) or put your money in a high-interest savings product (Wealthsimple Save). We've been in business since 2014, and have over $3 billion in assets under management.

Nest Wealth is a wealth management company that provides investors with a “smarter, quicker way to reach their financial goals.” They were founded in 2014 and have not released information about their assets under management.

How Wealthsimple Invest compares to Nest Wealth (Automated Investing)

See how Wealthsimple Invest and Nest Wealth stack up in this side-by-side comparison. Your trust is important to us. That's why we always do our best to be fair and provide complete and accurate information. That being said, we can't compare every single feature out there and can only guarantee accuracy at the time of writing. To complete your homework, we recommend visiting our competitor's site to continue your research.

WealthsimpleNest Wealth
Overall Rating (Young And Thrifty)4.94.6
Social Responsible InvestingYesNo
Halal InvestingYesNo
Dividend ReinvestingYesYes
Minimum Balance To Start InvestingNoneNone
Auto DepositingYesYes
VIP Lounge AccessYes (for Wealthsimple clients who invest over $100k)No
Management Fees0.5% on $0-$100k and 0.4% for amounts over $100k$20 per month for under $75k, $40 per month for $75-$150k and $80 per month for $150k and above.
Transfer Fees (to another financial institution)NoNo
Inactivity FeesNoNo
Financial Planning/Portfolio ReviewYesYes
Automatic RebalancingYesYes
Human SupportYesYes

Convinced? In just five minutes you can open a portfolio that makes your money work harder for you — start investing with Wealthsimple.

Comparison of accounts offered

Here's a list of the accounts that Wealthsimple Invest/Save and Nest Wealth offer:

WealthsimpleNest Wealth
SavingsYesNo
Joint SavingsYesNo
LIFYesNo
TFSAYesYes
RRSPYesYes
Spousal RRSPYesYes
RESPYesYes
Cash/PersonalYesYes
LIRAYesYes
RIF/RRIFYesYes
JointYesYes
CorporateYesYes

The bottom line

Wealthsimple and Nest Wealth have some key things in common. We both offer a variety of accounts, including RRSPs and TFSAs. And, we have customer support, access to financial advisors, and no account minimums. Unlike Nest Wealth, Wealthsimple also has a savings product designed to help you save for your short-term goals.

But our biggest differences are the portfolios and services we offer, and our fee structures. With Wealthsimple, you can invest according to your values with our Socially Responsible Investing portfolio and Halal Investing portfolio.

Wealthsimple's management fees are 0.5%. That fee drops to 0.4% when you deposit more than $100k across your Wealthsimple accounts. Nest Wealth charges $20 per month for investments under $75,000, $40 per month for $75k-$150k, and $80 each month if you invest more than $150k.

To break it down even further:

  • If you invested $15,000, over the course of a year Nest Wealth would charge you $240 in management fees, while Wealthsimple would charge $75.

  • If you invested $50,000, over the course of a year Nest Wealth would charge you $240 in management fees, while Wealthsimple would charge $250.

  • If you invested $100,000, Nest Wealth's annual management fees would come to $480. Wealthsimple would charge you $400.

  • If you invested $150,000, Nest Wealth's annual management fees would come to $960. Wealthsimple would charge you $600.

When you deposit more than $100,000 across your Wealthsimple accounts, you also unlock our premium Black plan. It comes with great perks like VIP airline lounge access around the world. Nestwealth does not have such a perk when you invest over $100k.

Finally, in a review conducted by Simple.Thrifty.Living., Wealthsimple scored 4.9/5 stars while Nest Wealth scored 4.6/5 stars.

Wealthsimple offers state-of-the-art technology, low fees and the kind of personalized, friendly service you might have not thought imaginable from an automated investing provider — start investing now.

What to consider when choosing an investment provider

Comparing investment providers doesn't have to be hard. Here's some advice to get you started:

Pay attention to account minimums

Choose a provider that makes sense for what you can invest now - and in the future. Some investment providers require you to deposit as much as $100,000 to get started. And, in some cases you could face nasty penalties for dropping below the account minimum - or be forced to close your account.

Watch out for hidden fees

Nothing eats away at long-term gains quite like fees. And we're talking about more than just management fees (though they're important, too). Account transfers and trading fees can also add up. The best investment providers are upfront with what it costs to invest with them.

Look out for human support

When you need to make sense of a mysterious number in your monthly statement, nothing compares to talking to a fellow human. In the competition to offer the lowest possible management fees, some robo-advisors are quick to cut customer support. Before you commit to a provider, see what support is available - you never know when you'll want it.

Find out if you have access to a financial advisor

No two people are alike - and neither are their financial situations. But investment platforms vary in terms of how much access you get to professional advice. Keep an eye out for providers that offer access to a financial advisor. There are only a few who offer advice when you need it, regardless of how much money you have in your account.

Understand how much freedom you have

Relationships end - even when you're investing for the long term. Before you commit, find out what happens if you need to withdraw your funds or want to move on to a new investment platform - and whether there are any penalties involved.

Not your average investment provider. Say hello to human financial advice and personalized portfolios with no account minimums or hidden fees — start investing now.

What makes Wealthsimple different from other investment providers

We do the work for you

Using well Wealthsimple is, well, simple. In just a few minutes, we'll build you a custom portfolio that makes sense for your risk tolerance and investment timelines. And we'll do the maintenance for you, with automatic rebalancing and dividend reinvesting. All you have to do to get started is answer a few simple questions. And then you can sit back and tell all your friends how smart you were with your money.

No account minimums or hidden fees

We're the first investment company in Canada to eliminate account minimums. That means you can start investing with as little as $1. Our fees are also really, really low. We charge 0.5% on $0-$100k and 0.4% on anything above $100k. Plus, you can make a withdrawal any time you want. So you can always count on your money being there when you need it. Start investing now.

Personal touch

Our financial advisors are fiduciaries, which is a fancy way of saying that they have a legal obligation to provide financial advice that's in your best interest - not ours. They're standing by to answer your questions and provide support whenever you need it. All you have to go is drop us a line by phone, email or even Skype. Get started.

More than 100,000 people love using Wealthsimple

See the reviews for yourself:

  • 1.5k ratings in the Apple app store

  • 2019 Top Robo Advisor (NerdWallet)

  • 5 Stars - Simple.Thrifty.Living

Ready to give Wealthsimple a shot?

Put your money to work in a smart portfolio, designed to help you get closer to your financial goals. Start investing now and get access to our state-of-the-art technology, low fees, and access to advice from real humans whenever you need it.

Methodology

The information on this page was compiled by Wealthsimple in March 2019. In order to uncover this information, we looked at Nest Wealth’s website, press releases and third-party sites. The information collected relates to features, accounts and pricing. We assumed Nest Wealth did not have a specific feature if it was not mentioned on their website.

Last Updated January 31, 2019

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