When it comes to finances, we like to keep it simple. Maybe you guessed that from our name. But sometimes, when your wealth starts to grow, things can get a little complicated. Things like taxes, trust structures, taxes, estate planning, and also taxes. It’s enough to trip up even the most experienced DIY-er. That’s why it was important to us for our clients to be able to work with a professional when they want to. Which is why we’re introducing Wealthsimple for Advisors.
What does Wealthsimple for Advisors mean? It means that financial advisors of all stripes can work with their clients to help manage their Wealthsimple accounts. Advisors get to use our powerful tools—we’ll take care of all the investment management, from KYC to CRM2 to any other acronyms you can think of—to offer their clients a fully paperless Web or mobile investing experience and our low fees. Meanwhile, their clients get someone to help them with all the complicated financial stuff they may not want to deal with, someone to give holistic financial-planning advice beyond Wealthsimple accounts, and maybe even dinner once a quarter or 18 holes of golf when it’s nice out (if you're into that).
Because while we love nothing more than Canadians who want to take control of their own money, we also love Canadians who want a little advice about how to do that.
Of course, as with any wealth advisor, it will cost a little more to have someone manage your money—though a lot less than with a big, cumbersome bank. Wealthsimple gets the same fee no matter what: 0.35% of invested assets. Then the individual advisor decides on the fee he or she will add on top of that, from 0% of assets invested to 1.15%. Which means the client will pay a total of .35% to 1.5% of Wealthsimple assets invested through an advisor.
Here's how it all works: First an advisor joins the Wealthsimple network at wealthsimple.com/advisors. We do a background check to make sure we’re working with a professional advisor with a good reputation. Once approved, the advisor can simply add clients’ email addresses to invite them to open a Wealthsimple account. Clients receive a personal email from the advisor inviting them to join Wealthsimple. Then they use our award-winning website to create a Wealthsimple account linked to the advisor. The advisor can always track the client’s accounts through his or her dashboard, and the client always has the advisor’s contact information at his fingertips via his account. That’s it.
What kind of advisors does this make sense for? Everyone! We designed the program so it will benefit financial planners, portfolio managers, investment advisors, even lawyers.
Hundreds of advisors across Canada have already invested hundreds of thousands of dollars in the Wealthsimple for Advisors platform. So what are you waiting for? Apply today!