We’re thrilled to announce that Wealthsimple is officially open for business in the U.S.!
We've come a long way. A colleague recently reminded me of our very first board meeting. It was late 2014. I talked about our vision: how we were going to be a new kind of global financial services firm, helping people in countries all over the world to live smarter and simpler financial lives. At the time Wealthsimple had only been around for a few months; we had just $1.9 million in financing and 30 clients, all in Canada. The board almost laughed me out of the room.
It would have been hard to imagine then just how far we’d come in two short years. Today, we have more than 20,000 clients who have trusted us with more than $750 million of their hard-earned money. We also have $50 million in backing from one of the world’s largest financial companies, Power Financial. And just a few months ago we were recognized with a Webby award for Best Financial Services Website in the world.
And so we decided it was time. We were ready to come to America.
Starting today, people living in all 50 states can sign up and take advantage of what we already do better than anyone else — making investing human, simple, smart, and extremely low-cost. You can sign up for Wealthsimple Basic or Wealthsimple Black; you can do it from your phone or your computer; you can open (or convert your existing) IRA accounts, Roth IRA accounts, and individual investment accounts.
Our fees are very low — we charge 0.5%, about half the fee of a traditional financial advisor. And that number goes down to 0.4% if you invest more than $100,000 with us. But to celebrate our U.S. launch, we will manage your first $5,000 with absolutely no fees.
Since you don't know us yet, I also wanted to tell you just a little about how we're different from everyone else.
We give on-demand advice from real human beings. You can manage your accounts easily on your own through our website and app. But, we also pride ourselves on making personal advice available to every client, whenever he or she wants or needs it.
We're a tech company as much as we are a financial company. Unlike the big banks who offer robo advisor services, we operate like a tech company. And unlike start-up robo advisor services, we’ve partnered with Power Financial, one of the largest financial services companies in the world. Because with us, our clients invest with the confidence that we'll be around for the long-term.
We’re dedicated to elegant design. We use smart technology and simple design to make confounding things easy to understand and simple to use. Take a spin on our site or app and you'll see why we won that Webby.
We give you all the information you need and never any you don't. You're not a bond trader or a hedge fund manager, so why should you try to be? We won’t keep you up to date on oil prices or the minutiae of sector performance inside the Dow. We'll just help you use the same financial research that won a Nobel Prize in economics to design a great portfolio. If you read our magazine you'll find useful (not to mention fun) stories about buying tiny houses, making sure you're taking advantage of tax breaks, and lots of interviews with wise men and women about their relationships with money. Even our new ad “Mad World” directed by DGA Director of the Year Martin De Thurah, is all about how complicated the world makes investing, and how Wealthsimple is the ultimate antidote.
If you have any questions, give us a call at 1-855-766-0743. Even though you can find answers to most questions on our FAQ page, we love talking to our clients.