ICYMI, Wealthsimple Work is Wealthsimple’s Group Retirement Savings Program for employers across Canada. And now, we’re going beyond retirement to help make financial wellness a more accessible reality for members of Wealthsimple Work across the country.
Illustration by Marta Ryzcko

How Wealthsimple Work Goes Beyond Retirement to Help Bring Your Employees Financial Wellness in All Aspects

Wealthsimple Work provides employers with a modern financial wellness benefit for employees.

We think being a good employer goes well beyond bean bag chairs, a beer tap, and company swag. 

Don’t get us wrong, those things are great — there’s a reason they’ve become synonymous with a cool workplace. But employees are looking for more. With the cost of living on a (very steep) incline, employees need to feel financially secure in order to bring their best selves to work. 

That’s why financial wellness in the workplace is key — and why Wealthsimple Work is making it even easier to bring to your employees. 

Financial wellness goes beyond retirement, we know that. So Wealthsimple Work is also going beyond retirement. When an employer signs up for Wealthsimple Work, you also get access to other financial benefits to bring to employees.

What does that look like? We were hoping somebody would ask.

Group RRSPs

Retirement is our core, so of course we have to start with this.

Wealthsimple Work provides employers with a modern financial wellness benefit for employees. It’s easy to use and understand, offers value-driven investing options, and keeps management fees low – all while reducing the administrative burden for employers. Wealthsimple Work is one of the best ways for companies to help support their workforce and find  a clear path to financial freedom. 

A Group RRSP itself also goes well beyond retirement —members can use the funds they save through their account for purchasing a home through the Home Buyers Plan or education! 

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But as we said, when employers get on board with Wealthsimple Work’s Group RRSP, they’re getting so much more. Let’s look at some of those other benefits.

1:1 Financial Coaching

Each employee has financial goals as unique as they are. This means there’s no one-size-fits-all approach to achieving those goals — and why 1:1 financial coaching is such a powerful tool that employees can access as Wealthsimple Work members.

Meeting with a financial coach means employees can come up with a plan meant for them and them alone. The meeting can consider their personal financial needs and goals, not general ideas.  

Our financial coach can also meet plan members where they want to be met — whether it’s a quick phone call or some face time over Zoom. Every Wealthsimple Work client has a direct booking link on their dashboard, meaning members are only a few clicks away from chatting with a financial expert!

Free Premium Tax Audit Support

Tax season can be a headache for anybody, so we wanted to help employers make filing taxes  easier for their employees. 

As of the 2021 tax season, employers can offer their employees free premium tax support if they’re a Wealthsimple Work client. When members of the plan file their taxes with Wealthsimple Tax, they get premium tax support at no additional cost. 

With Wealthsimple Work members get access to:

  • Priority Email Support: Have questions about filing, tax claims, or just want to say hi? Email our Wealthsimple Tax Support team and get answers — fast. 

  • Audit Support: Free access to professional support if tax returns end up being re-assessed. Audit Support will be available for each step of the way to ensure a smooth review from the CRA or or Revenu Québec. 

For the 2021 tax season, 587 Wealthsimple Work clients benefited from premium tax support!

Financial Health Check with a Portfolio Manager

Employees don’t expect their employer to be financial experts, but employers can get them access to a financial expert with Wealthsimple Work.

Our experts are here to help Wealthsimple Work clients review their portfolios and make the most of their money. 

It’s also important to note all of our money experts are fiduciaries. This means that we are obligated to give our clients actionable advice and feedback that’s in their best interest, not ours. You can trust our advice has you in mind. 

And the best part is that this is completely free for Wealthsimple Work clients and GRSP members.

Lunch and Learns

Want to explain to employees the benefits of the GRSP, but not sure of all the nuances? No problem! Every Wealthsimple Work client has access to lunch and learns with our Client Success Managers and Portfolio Managers. 

We go over everything employers and their team want to know about GRSPs, and what makes this benefit so great. Lunch and learns will also dive into other financial topics, leaving time for employees to ask the financial questions they have on their mind. 

Some of the current Lunch and Learns offered include:

  • Welcome to Wealthsimple Work — Kick-Off

  • The Basics of a GRSP

  • Financing Your Life Goals 

  • And more! 

And learning leads nicely into our next benefit…

Financial Education Resources

Employers can give employees all the financial benefits in the world. But without a proper financial education, they won’t be used to their full potential.

That’s why providing financial education resources is something we’re so passionate about. Here are some of the resources employers can share with employees. 

Wealthsimple Master Class

Did you find yourself confused when everything was happening with Gamestop stock? Do all of the terms people use when discussing stocks leave you scratching your head?

Cue the Wealthsimple Investing Master Class. This totally free series provides a strong investing foundation in less than 45 minutes. It doesn’t matter if you’re an investing expert or looking for your footing — in less than an hour you’ll have built up your knowledge. 

Personal Finance 101

Managing money can be tough — even we get that. 

Nobody is born knowing how to put together a financial plan. At every corner there’s a new savings plan, financial influencer, or best-selling book that promises to teach you every financial hack there is. That’s where Personal Finance 101 comes in.

Personal Finance 101 is a collection of resources put together to help you understand some of the biggest financial topics out there. You can discover resources that cover everything from saving and taxes to retirement and crypto. 

Wealthsimple Magazine

Have you ever been told it’s a faux-pas to discuss money? The Magazine takes the opposite approach. 

The Magazine is the place for people who want to discuss money and all that goes into it. You can find a little bit of everything here, including articles on how weed has stayed affordable in a period of such intense inflation, mogul Kim Kardashian’s story with money, and how to ride out the inevitable downturns of the stock market.

We get that financial wellness goes so far beyond retirement — which is why Wealthsimple Work is also going beyond retirement. 

If you want to join hundreds of Canadian companies already using Wealthsimple Work, you can learn more or — even better — get in touch.

Katie oversees all things content for the Wealthsimple Work team, creating resources that helps employers big and small encourage financial wellness within their own teams.

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