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If launching a big new app that unifies everything (that has to do with your money) seems like a surprise, we have a little secret to tell you. This was the idea all along. If you looked at all our planning documents and whiteboards from over the years, you’d find a lot of phrases like, “Be the primary financial relationship for the emerging majority of Canadians.” Which is start-up speak for: solve all of your money needs in one place, and make it awesome. That’s always been our vision.
And today we’re pleased to tell you that it’s happened. We took all the ways Wealthsimple helps you do money right — Canada’s first zero commission trading app, first regulated crypto app, smart managed investing, a better way to spend and save money — and smooshed them all into a single, beautiful container. And it all fit!
The new Wealthsimple app is a single place to trade thousands of stocks and ETFs, buy and sell over 40 cryptocurrencies, get a customized investing portfolio (with handy access to our human experts), earn 1% on all your savings and get rewards as you shop at your favourite stores. Why are we doing it? To make it easier. To give you the big picture. Because it doesn’t really make sense to divide your money brain — log into one app to send rent money to your landlord, and another to see if your investments are on track to buy your own place. It’s all connected, and you want it to work that way.
OK, you might be thinking, that sounds great, but what will it actually look like? Well, we might be biased, but we think it’s extremely beautiful (and simple). Let’s take a stroll through it.
What does it do?
Here’s how the app makes it easier to get the full picture of your holdings:
You can access all of your investment accounts (managed portfolios, self-directed stock, ETFs, and crypto trading) right at your fingertips.
You can discover new stocks or move money from account to account with just a few taps.
You can earn 1% back — in cash, or to reinvest in stocks or crypto for every dollar you spend with your Wealthsimple card.
You can inform and empower yourself to make real-time trading decisions with in-app price alerts and stock news.
You can instantly deposit up to $5,000 (or up to $25,000 for our Plus members) for maximum flexibility.
How do I get it?
So, if you’re already our client, make sure you’re using the most recent version of the Wealthsimple Trade app to give it a shot (your phone is probably already on top of this if you’ve got automatic app updates going on). Otherwise, you can download Wealthsimple from the Apple or Google app store.
This new app is just the first step. Besides being the way you do money, Wealthsimple has a bigger goal — to lower the barrier to entry, to democratize finance, to take the powerful financial tools that have historically been given only to the wealthy and put them right here, on your phone. And over the coming months, we’ll be adding more features to make our all-in-one app do even more.
If you haven’t tried Wealthsimple yet, this is a pretty good time to get started. If you’re already one of our clients, this change might feel a little weird at first. We get it. But we think it won’t take long before you like it a whole lot more. Just update (or download) our app to get started.
Wealthsimple uses technology and smart, friendly humans to help you grow and manage your money. Invest, save, trade, and even do your taxes in a better, simpler way.