Wealthsimple Managed Investing Review

1. Wealthsimple Managed Investing Review: Our Verdict and Score

The short version. Wealthsimple managed investing ranks first of the four robo-advisors we score, at 4.2 / 5. It wins on breadth: more portfolio families than any rival, no stated minimum, nine account types and a route to human advice that grows with your balance. It loses ground on cost, where its fee sub-score is 3.5 out of 5.

How we score robo-advisors. Fees carry 45% of the score. We add the management fee to the highest published fund cost for the core portfolios on a $50,000 account. Accounts, portfolio choice and advice carry 15% each, and the minimum carries 10%. A robo-advisor is ranked only when both its management fee and its fund costs are published in text we can check. The full rubric sits on our broker and robo-advisor rating methodology page.

Why the fee score is lower. The fee sub-score is 5 minus five times the amount by which the all-in cost exceeds 0.35%. At 0.65%, Wealthsimple loses 1.5 points. Questwealth, at 0.37%, scores 4.9 on the same test. The gap matters most for people below $100,000, who pay the full 0.5% Core fee.

Where it wins. Wealthsimple is the only one of the four ranked robo-advisors whose published terms include tax-loss harvesting, and it puts an income portfolio family, private-market options and direct indexing under one login. It also counts almost every Wealthsimple account, including chequing and crypto, toward the asset level that lowers your fee. Scores never depend on payment from a provider; see how WealthScale makes money.

2. Wealthsimple Managed Fees by Tier

One fee, set by your total assets. Wealthsimple charges a yearly management fee on your managed balance. The rate depends on your membership tier, and your tier depends on everything you hold with Wealthsimple, not only the managed account. Core starts at $1, Premium at $100,000 and Generation at $500,000. The fee pays Wealthsimple to build, rebalance and run the portfolio. The cost of the ETFs inside the portfolio, the MER, is separate and is taken inside each fund.

What the fee costs in dollars. On $50,000 at Core, the management fee is $250 a year ($50,000 x 0.5%) and Classic fund costs add up to $75 ($50,000 x 0.15%), for $325. On $150,000 at Premium, the fee is $600 ($150,000 x 0.4%) and fund costs add up to $225, for $825. On $500,000 at Generation, the fee is $2,000 and fund costs add up to $750, for $2,750. The Generation fee steps down toward 0.2% as assets grow, and Wealthsimple tells Generation clients to confirm their exact rate with its advisor team.

The tier rule that saves money. Your tier is the higher of your net deposits or your total portfolio value across Wealthsimple. A client with $30,000 in managed investing and $70,000 in a self-directed TFSA, chequing or crypto reaches Premium, and the 0.4% rate then applies to the managed $30,000. Combined household assets also count toward Premium or Generation when two or more clients who share a home address form a household. Upgrades are automatic, take at least one business day, and new deposits can take up to 72 hours to count.

How you can lose a tier. Status drops only if both your net deposits and your total assets fall and stay below the threshold. Market declines do not reduce net deposits, so a falling market alone will not push you back to Core. Withdrawals and transfers out do reduce net deposits.

Other products, other fees. Automated Investing costs 0.25% a year, capped at $250 per account per year once the balance reaches $100,000. Summit’s private-market portion carries a 1.00% management fee. The Private Market Fund charges a 1% Wealthsimple fee on top of the underlying fund’s own management and performance fees. The advisor-led Wealth Management service charges 0.8%, falling to 0.5% at $10,000,000 or more, excluding fund costs. Our guide to every Wealthsimple fee lists the rest, such as the $20 paper statement fee.

3. Wealthsimple Portfolios: Classic, Summit, Income and More

Six options on the managed menu. Wealthsimple’s managed investing pages list Classic, Summit, Income, the Private Market Fund, Automated Investing and Advice. Each answers a different need: a low-cost core portfolio, a portfolio with a private-market slice, a portfolio built for cash flow, a stand-alone private fund, direct indexing, and advisor-led management for large households.

Classic. This is the standard Wealthsimple robo advisor portfolio and the one most clients use. It holds 8 to 10 ETFs in a mix set by your risk profile. Wealthsimple rebalances it when you deposit, withdraw or change your goal, and reinvests dividends into the ETFs that have fallen below target.

Summit. Summit adds a private-markets slice to a public ETF portfolio. You need $10,000 in investable assets to open one and $3,500 before the private portion is switched on, and Wealthsimple asks for a horizon of at least four years. Private assets can be harder to sell quickly, so treat Summit money as long-term money.

Income portfolios. Wealthsimple lists Vanguard Income with a 5.2% target and a 4.7% yield, Core Bond with a 3.7% yield and Money Market with a 2.5% yield. Yields are updated monthly and are not guaranteed. Money Market carries no management fee, while the other two pay the tiered fee plus underlying fund costs of about 0.15% to 0.2%. You can hold one Income portfolio per account.

Private Market Fund. This fund needs a $10,000 minimum and $50,000 in investable assets. On top of Wealthsimple’s 1% fee, the underlying fund charges about 1.25% to 1.50% in management fees and about 15% in performance fees. Liquidity comes in monthly windows, and redemptions may be paused, so this is the least liquid option on the menu. Wealthsimple names the RRSP, TFSA and non-registered accounts for it.

4. Fund Costs (MER) by Wealthsimple Portfolio

What the MER is. The management expense ratio is the yearly cost of running each ETF, expressed as a percentage of what you hold in it. You never see it as a separate charge: it is taken inside the fund and shows up as a slightly lower return. Your true cost at any robo-advisor is the management fee plus the MER, which is why our score adds the two.

Classic is the cheapest. Classic fund costs run from 0.12% to 0.15%. On $50,000, that is $60 to $75 a year on top of the management fee. This is the figure our score uses, because Classic is the core portfolio for most clients.

Socially responsible and Halal portfolios. Wealthsimple’s help centre describes a socially responsible portfolio, built on socially responsible ETFs plus government bonds and gold, with fund costs of 0.21% to 0.23%. It does not appear on the current managed investing product menu, so please confirm in the app that you can choose it. Wealthsimple’s help centre also still describes a Halal portfolio, while its product pages no longer list one, so availability is being confirmed.

What the extra cost means. If you choose the socially responsible portfolio, its highest fund cost of 0.23% adds $40 a year on $50,000 compared with Classic’s 0.15% ($50,000 x 0.08%).

What is not in the MER. Trading costs inside the ETFs and the small cash buffer Wealthsimple holds are not part of the MER. Neither is the drag from Summit’s private slice, which has its own 1.00% fee on that portion. For the long-run effect of any fee gap, use the fee impact calculator in the example below, or our compound interest calculator to test returns after costs.

5. Accounts You Can Hold in Wealthsimple Managed Investing

Nine account types. Wealthsimple’s managed investing page lists the TFSA, RRSP, spousal RRSP, FHSA, non-registered account, RRIF, RESP and LIRA, and its business page adds corporate accounts. That covers saving, retirement, a first home, a child’s education and a locked-in pension transfer. A LIF is listed for Automated Investing but is not confirmed for the managed portfolios.

Registered limits still apply. A managed account changes who picks the investments, not the tax rules. The 2026 TFSA limit is $7,000, and Wealthsimple cites cumulative room of up to $109,000 for someone eligible since 2009. The FHSA allows $8,000 a year and $40,000 over your lifetime. Our TFSA guide and FHSA guide explain how room builds and what happens if you go over.

Which account first. A robo-advisor cannot tell you whether a TFSA or RRSP comes first for your income. Our TFSA vs RRSP comparison runs the numbers at different marginal rates. If you are saving for a first home, the FHSA usually belongs in the plan because contributions are deductible and qualifying withdrawals are tax-free.

No crypto in managed accounts. Crypto sits in a separate non-registered crypto account at Wealthsimple and cannot go in a TFSA, RRSP or FHSA. Crypto balances do count toward your tier, though, which can lower the fee on your managed portfolio. See our Wealthsimple Crypto review for those rules.

6. Rebalancing, Cash and How Deposits Are Invested

Automatic rebalancing. Wealthsimple rebalances each managed portfolio based on your deposits, withdrawals and goal changes. New money goes first to the ETFs that sit below their target weight, and dividends are reinvested the same way. This keeps the mix close to target without forcing a sale, which matters in a taxable account where selling can trigger a capital gain.

The cash buffer. Wealthsimple keeps about 0.3% to 0.5% of each managed account in cash. On $50,000 that is roughly $150 to $250 not invested in the portfolio. The buffer is small, so its drag on returns is minor, but it explains why your account never shows 100% invested.

How fast deposits are invested. Wealthsimple invests deposits within five business days. During that window the money is not exposed to the market. If you are moving a large sum, check the activity screen after a week to confirm the trades went through. Instant deposits let you move up to $50,000 on Core and up to $250,000 on Premium and Generation before the bank transfer settles.

Goal changes and risk levels. Changing your goal or risk level prompts a rebalance toward the new mix. In a TFSA, RRSP or FHSA that has no tax effect. In a non-registered account it may realize gains, so make large risk changes with your tax bill in mind, ideally early in a year with lower income.

Regular deposits. A fixed monthly deposit buys more units when prices fall and fewer when they rise, and it removes the temptation to time the market. Pair it with your payday so the money moves before you spend it.

7. Tax-Loss Harvesting, Asset Location and Custom Portfolios

Tax-loss harvesting from Premium. Wealthsimple includes tax-loss harvesting for Premium and Generation clients. Core clients do not get it. Tax-loss harvesting generally works like this: when an ETF in a non-registered account falls below what you paid, the system sells it to realize a capital loss and buy a similar, not identical, ETF so you stay invested. The realized loss can offset capital gains on your tax return.

Where it helps and where it does nothing. Harvesting only matters in a non-registered account. Gains and losses inside a TFSA, RRSP, FHSA, RESP or RRIF are not reported each year, so there is nothing to harvest. If all your managed money sits in registered accounts, the feature adds no value to you.

The superficial loss rule. The Canada Revenue Agency denies a capital loss if you, or a person affiliated with you such as a spouse, buy identical property within 30 calendar days before or after the sale and still hold it 30 days after. A harvesting system can only control trades in the account it manages. Buying the same ETF in your self-directed account or your spouse’s account within that window can cancel the loss. Unused net capital losses can be carried back three years or forward indefinitely. Our capital gains tax calculator shows how a loss offsets a gain.

Asset location on Generation. Generation clients get asset location, which places each type of investment in the account where it is taxed least across the household. For example, holdings that pay fully taxable income can sit in an RRSP, while growth holdings can sit in a TFSA. Wealthsimple does not publish the rules its system uses, so ask the advisor team how it applies to your accounts.

Custom portfolios on Generation. Generation clients can also get custom portfolios. Automated Investing offers a different tax tool: direct indexing of US stocks in non-registered accounts, with tax-loss harvesting included, at 0.25% a year capped at $250 per account.

8. Advice Access: Advisors and Wealth Management

Advice at every level, in different forms. Wealthsimple lists an Advice option on its managed investing menu and invites clients to work with an advisor. Our score gives 4.5 out of 5 for advice because clients can reach advisors by phone or email. What changes as your balance grows is how close that relationship gets, and how fast support answers.

What a robo-advisor’s advice covers. Advice at a robo-advisor generally centres on the portfolio: your risk level, your goal, which account to use and how much to save. It is usually not a full financial plan with estate, insurance and tax projections. If you need that depth, a planner who charges by the hour or a fee-only service can sit alongside a robo account.

Wealth Management for $1,000,000 households. Wealthsimple’s advisor-led Wealth Management service is framed for households with $1,000,000 or more. Its advisors hold the CFP and CIM designations, act as fiduciaries and earn no commission. The fee is 0.8%, falling to 0.5% at $10,000,000 or more, and it excludes fund costs. Portfolios do not include GICs or mutual funds. On $1,000,000, 0.8% is $8,000 a year before fund costs ($1,000,000 x 0.8%).

The trade-off at the top. A Generation client with $1,000,000 in Classic pays 0.4% or less, or $4,000 at most, and still gets asset location, custom portfolios and the dedicated advisor team. Moving to Wealth Management doubles the fee rate for a more hands-on service. Ask both teams what each fee buys before you choose.

Support channels. Premium adds priority phone support, and Generation adds priority email and 24/7 chat. Response-time targets for managed clients were not part of the terms we checked, so plan important changes, such as a large withdrawal before a home purchase, a few weeks ahead.

9. Core vs Premium vs Generation for Managed Clients

Why the tier matters more here than anywhere else. For self-directed investors, the tier changes perks. For managed clients it changes the price. The step from Core to Premium cuts the fee from 0.5% to 0.4% and adds tax-loss harvesting. On a $100,000 managed balance, that step alone saves $100 a year ($100,000 x 0.1%).

Which accounts count. Wealthsimple counts the TFSA, RESP, RRSP, GRSP, LIRA, non-registered accounts (managed or self-directed), crypto, Save and chequing toward your tier. Almost every account you hold there pushes you toward the lower fee, including money that is not in the managed portfolio.

Households. Two or more Wealthsimple clients who share a home address can form a household, and combined household assets count toward Premium or Generation. Members choose what to share. Others can see shared balances but cannot move money. For a couple with $60,000 each, joining a household reaches Premium ($60,000 + $60,000 = $120,000) and cuts both managed fees to 0.4%.

The perks outside investing. Premium and Generation also bring a higher chequing rate, an included USD account and Wealthsimple Tax Plus or Pro at no charge. If you already pay for tax software or a USD account, count those savings when you decide whether to move assets to reach a tier. Our Core vs Premium vs Generation guide covers every perk and shows how far your assets are from the next level.

10. Safety: Who Holds Your Money, CIRO and CIPF

The companies involved. Wealthsimple Inc. is the portfolio manager that runs the managed portfolios. Wealthsimple Investments Inc. is an investment dealer and a member of the Canadian Investment Regulatory Organization (CIRO), and it holds client accounts for managed investing, self-directed trading and crypto. Wealthsimple Financial Corp. is the parent of Wealthsimple Investments Inc. As of December 18, 2023, a majority of Wealthsimple Financial Corp.’s voting securities were controlled by Power Corporation of Canada subsidiaries and affiliates.

CIPF protection. Because Wealthsimple Investments Inc. is a CIRO member, eligible accounts are protected by the Canadian Investor Protection Fund if the dealer becomes insolvent. CIPF covers up to $1,000,000 in each of three categories: general accounts (cash, margin, TFSA and FHSA combined), retirement accounts (RRSP, RRIF and LIF combined) and RESPs.

What CIPF does not cover. CIPF protects against the loss of your property if a member firm fails. It does not cover market losses: if your ETFs fall 20%, CIPF pays nothing. It also does not cover crypto assets. Managed ETF portfolios are securities, so they fall inside CIPF’s scope.

Size and security. Wealthsimple reported $155.6 billion in assets under administration at June 30, 2026. Clients who sign in with a passkey are reimbursed for all direct losses from unauthorized account activity, and Wealthsimple states it is SOC 1 and SOC 2 compliant. Our Is Wealthsimple safe? guide covers CDIC cover for chequing and how each entity is regulated.

Your own safeguards. Use a passkey, keep your contact details current, and review the activity screen monthly.

11. Opening an Account and Transferring In

Opening. You open a managed account in the Wealthsimple app or on the web. As at any Canadian robo-advisor, you answer know-your-client questions on your goal, time horizon and risk tolerance, which set the portfolio’s risk level. No minimum is stated for Classic, and the Core tier starts at $1. Summit needs $10,000 in investable assets, and the Private Market Fund needs a $10,000 minimum and $50,000 in investable assets.

Transfer fees covered from $25,000. Most institutions charge to transfer an account out. Wealthsimple reimburses that fee when you transfer in $25,000 or more, up to $150 per account, and the account must stay funded for 90 days. The threshold was $15,000 before April 10, 2025. Wealthsimple’s own pages differ on whether you must send proof of the fee or whether the refund is automatic, so keep your old statement showing the charge.

The 1% transfer match. Wealthsimple’s 1% Match pays 1% on the first $2,000,000 transferred in, up to $20,000, when you move at least $25,000 within 30 days of registering. Managed accounts qualify, including the TFSA, RRSP, FHSA and non-registered accounts. The match is paid in 24 equal monthly payments to chequing, and a 20% withdrawal buffer applies for 730 days. On a $50,000 transfer, the match is $500, paid at about $20.83 a month ($500 ÷ 24). The terms took effect May 4, 2026, with no end date stated.

Registered accounts move by direct transfer. Move a TFSA, RRSP or FHSA by an institution-to-institution transfer, never by withdrawing and re-depositing. A withdrawal from an RRSP is taxable, and a TFSA withdrawal only restores room on January 1 of the next year. Our guide to transferring an investment account walks through the forms, timing and in-kind versus cash transfers.

Leaving later. Wealthsimple charges $0 to transfer an account out to another institution. Managed portfolios hold ETFs, which can usually move in kind, but some institutions accept only cash. Confirm the receiving firm’s rules before you start.

12. Wealthsimple Managed Investing Pros and Cons

How to read this list. Each point comes from Wealthsimple’s published fees and terms as checked on October 22, 2026, and from our robo-advisor scores. A con that matters to one investor, such as the Core fee, may disappear for another who already holds $100,000.

The balance. For a hands-off investor with $100,000 or more across Wealthsimple, the pros clearly win: 0.55% all-in with tax-loss harvesting is fair value. Below that level, you pay about 0.28 percentage points more than Questwealth for a broader menu and better advice access. Decide whether you will use those extras.

13. Wealthsimple Robo Advisor vs Questwealth, RBC InvestEase and CI Direct Investing

The ranking. We rank four robo-advisors whose management fees and fund costs are both published in text: Wealthsimple Managed Investing (4.2 / 5), Questwealth Portfolios (4.1 / 5), CI Direct Investing (3.7 / 5) and RBC InvestEase (3.4 / 5). Total cost on $50,000 uses each firm’s management fee plus the highest published fund cost for its core portfolios.

Cost at other balances. The order changes with your balance because each firm tiers differently. The table below adds the management fee to the highest core fund cost and assumes the whole balance is your only money at each firm.

Wealthsimple vs Questwealth. Questwealth is cheaper at every balance, by $140 on $50,000 and $1,150 on $500,000. Wealthsimple offers more portfolio families, published tax-loss harvesting and clearer advice access, and it covers transfer fees up to $150 per account from $25,000. Our Wealthsimple vs Questrade comparison and Questrade review cover Questwealth in depth.

Wealthsimple vs RBC InvestEase. RBC charges a flat 0.50% at any balance, with core fund costs up to 0.20%, and offers the TFSA, FHSA, RRSP and non-registered accounts only. Wealthsimple costs less at every balance in the table and offers five more account types. RBC charges $150 plus tax to transfer out to a non-RBC account. See our RBC Direct Investing review, which also covers InvestEase.

Wealthsimple vs CI Direct Investing. CI charges 0.60% on the first $150,000, 0.40% on the next $350,000 and 0.35% above $500,000, blended across your accounts, with ETF fund costs up to 0.23%. It offers planners for every client and a $100 minimum, but does not mention the FHSA. Wealthsimple costs less at every balance in the table.

Robo-advisors we do not rank. BMO SmartFolio publishes a 0.4% to 0.7% fee without breakpoints or fund costs. Justwealth shows its fee tiers only as an image. We could not confirm that TD Automated Investing, Nest Wealth or Qtrade Guided Portfolios accept new clients. Our best robo-advisors in Canada ranking explains each case.

14. Who Wealthsimple Managed Investing Suits and Who Should Look Elsewhere

Hands-off investors with $100,000 or more across Wealthsimple. At Premium you pay 0.4% plus fund costs, get tax-loss harvesting and priority phone support, and can still hold chequing, a USD account and Wealthsimple Tax Plus at no extra charge. This is where the service gives the most for its price.

Couples who can combine assets. Household pooling lets two people with $50,000 to $60,000 each reach Premium together.

People who want one app for everything. If you already bank, trade or file taxes with Wealthsimple, a managed portfolio adds automatic investing without a second login, and every dollar there helps your tier.

Families with $1,000,000 or more. Generation pricing, asset location, custom portfolios and a dedicated advisor team give large households more service for a fee of 0.4% or less.

Look elsewhere if cost is your only test. Below $100,000, Questwealth’s 0.37% all-in beats Wealthsimple’s 0.65%. If you will never use tax-loss harvesting, advice or the wider menu, the cheaper option keeps more money working.

Look elsewhere if you want to pick your own ETFs. Wealthsimple charges $0 commission on listed Canadian and US securities, so a self-directed ETF portfolio costs the ETFs’ MERs, plus $10 a month plus tax on Core if you add a USD account. Our Wealthsimple Trade review covers self-directed investing at $0 commission, and our best online brokers ranking compares every broker. If you are just starting out, our how to invest in Canada guide explains the choices.

What You Need and What You Get With Wealthsimple Managed Investing

How Wealthsimple Managed Investing Works

1. Pick the account. Decide whether the money belongs in a TFSA, RRSP, FHSA, RESP or non-registered account, and confirm your room on your latest notice of assessment.
2. Answer the profile questions. Your goal, time horizon and risk tolerance set the portfolio’s mix of stocks and bonds.
3. Choose the portfolio type. Classic for low-cost core investing, Income for cash flow, Summit if you accept private-market illiquidity, or Automated Investing for direct indexing.
4. Fund it. Link a bank account and deposit, or start a transfer from another institution. Deposits are invested within five business days.
5. Let it run. Wealthsimple rebalances on deposits, withdrawals and goal changes, and reinvests dividends into underweight holdings.
6. Check your tier. As your assets pass $100,000 or $500,000, the fee drops and new features switch on automatically, which takes at least one business day.
7. Review once a year. Update your goal after life changes, confirm the fee on your statement and check for realized losses at tax time.

10 Strategies to Cut Your Wealthsimple Managed Fees

Illustrative Example: What Managed Investing Costs One Investor

Meet the Experts Behind WealthScale

Sharad Gondaliya, CPAWriter and tax reviewerCPA Ontario No. 61040184

Sharad is a CPA Ontario member (No. 61040184) and a Certified Public Accountant licensed in Washington and Montana, with more than 15 years in accounting and tax, a Diploma in Banking and Finance and a Certificate in Small Business Finance. He checks WealthScale content against primary sources. WealthScale is independent of his firm, Gondaliya CPA Professional Corporation, and provides general information only, not personal financial, investment, tax or legal advice.

• Chartered Professional Accountant, CPA Ontario
• Certified Public Accountant, Washington (No. 57629) and Montana (No. PAC-CPAP-LIC-033176)
• Writing on tax and registered accounts since 2021
• Reader’s Choice Award 2025 Winner, Best Accountant (Toronto)

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Neha Gupta, CFAFinancial ReviewerCFA charterholder

Neha Gupta is a CFA charterholder based in Winnipeg who has worked in financial markets since December 2005. She has published more than 2,600 investment articles and is Head of Operations and Finance at Whiteland Real Estate. She reviews WealthScale’s investing pages for accuracy.

• CFA charter, CFA Institute (awarded 2023)
• Post Graduate Diploma in Business Administration (Finance), 2008
• In financial markets since December 2005
• More than 2,600 published investment articles

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