For employers
The group savings plan your team actually wants
We’ve changed the way Canadians do personal finance. Now we’re doing the same for retirement and group savings plans, too.
Some of our clients
Get the Wealthsimple experience at work
Fully personalized
Unlike pre-built mutual funds, we create customized portfolios for your employees based on their needs and risk level, and they can adjust their profile whenever their situation changes.
Low fees
Our portfolios are built around Exchange Traded Funds (ETFs), rather than traditional mutual funds, so most of your employees will pay less than 1% in management fees.
Effortless automation
Our technology integrates with your existing HR and payroll system and has a user-friendly dashboard that delivers efficient admin and seamless onboarding.
80%+
average matching plan adoption
1 in 2
plan members already use Wealthsimple
3M+
Canadians trust us with their finances
What our clients are saying
Courtney Lee, VP of People, Humi
“By selecting Wealthsimple for Humi's GRSP, we were able to enhance our benefit program while saving on plan costs and management fees.
Our employees now benefit from low management fees, access to diverse investment options, as well as great perks to support their financial wellness. The plan transfer required a minimal time investment from our end, and the administration is simple!"
More for you, more for your employees
Extra money in everyone’s pockets
Plan members pay low fees with Wealthsimple, meaning your team can reach their savings goals faster.
Access to Premium benefits
Employees with over $100,000 with Wealthsimple unlock added benefits, like even lower fees, rewards from our partners, and on-demand financial planning with an advisor.
Financial education at their fingertips
From our TLDR newsletter to helpful content, like our retirement guide, we make staying on top of all things finance more accessible for your team.
Save time with easy integrations
Seamless and secure
We fit right into most current HR systems to streamline your payroll process, while keeping your employee data fully secured and up to date.
Supports your major platforms
We offer integrations with Rippling, Dayforce, Workday, Humi, BambooHR, and more.
For brokers
Let's work together
We partner with brokers and consultants to make sure we’re offering the best possible service to our shared clients. If you’d like to work with us, someone from our team would love to talk to you.
Set your team up for financial success
Share a few details about your company and we’ll be in touch.
FAQs
We currently administer Group RRSPs (also known as a Group Registered Retirement Savings Plans). This account type allows you to offer your team access to tax-efficient, employer-sponsored group savings. In January 2025, you will be able to offer your employees the flexibility to also invest in a Group First Home Savings Account, Group Tax-Free Savings Account, or Group Non-Registered Account.
We work with clients of all sizes and from a variety of industries. This includes employers just setting up a group savings plan for the first time, to organizations with an existing plan that they have transferred to Wealthsimple.
You are able to transfer your existing plan to Wealthsimple as long as we currently support that account type. We have a transfer team that will work with your current provider to make it a fast and painless experience. Transfer times depend on your current provider, but can take an average of 4 to 6 weeks.
In most cases, Wealthsimple will cover any transfer fees incurred from moving out of your existing provider. Talk to our team to find out more.
Employees pay less than 1% for most Wealthsimple portfolios.
For a detailed breakdown of all portfolios and to see what rates your employee might pay, get in touch with the team. There are no hidden fees for transfers, withdrawals or account changes. In fact we will cover the cost of any transfer fees you get charged when you move an existing plan to Wealthsimple.
Once sign off is done electronically, our team will ensure you are comfortable with the platform and performing all key actions. This may include integrating other systems into Wealthsimple for easy and fast data transfer.
With all administrators up and running, we will then invite the rest of your plan members to Wealthsimple where they can electronically set up their accounts.
Any members who are existing Wealthsimple clients will connect their existing account to their group savings plan.
Based on each member’s enrolment questionnaire, they will have been placed into a portfolio based on their risk tolerance level (categorized from 1 to 10) and preferred theme (e.g. Classic, Socially responsible, or Halal). Performance of these portfolios is available on our website or upon request from our team.
Today, members who are interested in trading their own stocks using the savings they accumulate in a group savings plan will need to perform regular transfers in-kind to a self-direct trading account at Wealthsimple.
There is no tax impact of doing so, but it does require a manual action on the member’s part.