Wealthsimple vs Nest Wealth - 2019 Comparison

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 have products for investing and saving, have been in business since 2014, and have over $3 billion 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 compares to Nest Wealth

See how Wealthsimple 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
Rating4.94.6
Social Responsible InvestingYesNo
Halal InvestingYesNo
Dividend ReinvestingYesNo
Minimum Balance To Start InvestingNoneNone
Auto DepositingYesNo
No Commission TradingYesNo
VIP Lounge AccessYes (for Wealthsimple clients who invest over $100k)No
Management Fees0.5% on $0-$100,000 and 0.4% for amounts over $100,000$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 and Nest Wealth offer:

WealthsimpleNest Wealth
SavingsYesNo
Joint Savings Yes No
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. You also get premium services, like automatic dividend reinvesting, at no extra cost.

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-$100k, 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 $100,000, Nest Wealth’s annual management fees would come to $480. Wealthsimple would charge you $400.
  • And, on investments over $120,000, your management fees would be the same with both providers.

However, 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.

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

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.

Safe & secure We understand how hard money is to earn, and never, ever take unnecessary risk with funds we manage. We take a passive approach to investing, based on the Nobel Prize-winning theory that proved investing in a diverse portfolio over the long term is the best way to minimize risk while maximizing returns. And your money is just as safe as it would be in the bank; the Canadian Deposit Insurance Corporation insures every one of our accounts up to $1,000,000 — get started investing now.

More than 100,000 people love using Wealthsimple

See the reviews for yourself:

  • 1.5k ratings in the Apple app store
  • 2018 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 — it only takes 5 minutes to get started.

Methodology

Wealthsimple is investing on autopilot

In just 5 minutes we'll build a low-cost portfolio that's optimized for your financial goals.

Learn more