Wealthsimple Core vs Premium vs Generation

1. Wealthsimple Tiers Explained: Core, Premium and Generation

Three tiers, no fee. Every Wealthsimple client is placed in one of three membership tiers based on the assets they hold with Wealthsimple. Core starts at $1, Premium at $100,000 and Generation at $500,000. You do not apply or pay: Wealthsimple moves you up automatically when you cross a threshold. The only paid add-on on Wealthsimple’s pricing is the USD account for Core clients, at $10 plus tax a month.

Why tiers matter. The tiers do not change what you pay to trade stocks, ETFs or options; those commissions are $0 on every tier. They change the costs that grow with your balance or your borrowing: the managed investing fee, margin and line of credit rates, the USD account fee and the credit card fee. They also change what you earn on chequing and which tax software plan you get.

Above Generation. Two more levels sit inside Generation. From $1,000,000, clients get access to a dedicated advisor team, and households of $1,000,000 or more can use Wealthsimple’s advisor-led Wealth Management service at 0.8%, falling to 0.5% at $10,000,000, before fund costs. At $10,000,000, the managed fee for Generation falls to 0.2%.

How this fits the rest of Wealthsimple. Wealthsimple’s self-directed platform scores 4.2 / 5 in our broker ranking, fourth of 13 as of October 23, 2026, and the tier you are in does not change that score. For the full picture of each product, read our Wealthsimple review; for the price of every service, see Wealthsimple fees by product and tier.

A date to watch. Wealthsimple has scheduled a product event for November 5, 2026. Tier thresholds and perks were checked on October 22, 2026, and we will update this page if they change.

2. How Wealthsimple Measures Your Tier

The higher of two numbers. Wealthsimple looks at both your net deposits and your total portfolio value and uses whichever is higher. Net deposits are the money you have put in, through deposits and transfers into managed, trading, crypto and chequing accounts, minus what you have taken out. Portfolio value is what everything is worth today.

Why this protects you in a downturn. Market declines do not reduce net deposits. If you deposit $100,000 and the market falls so your accounts are worth $90,000, your net deposits are still $100,000, so you stay Premium. You move down only if both measures fall and stay below the threshold.

What lowers net deposits. Withdrawals and transfers out reduce net deposits. If you sit close to a threshold, a large withdrawal or a transfer out can tip you below it once your portfolio value is also under the line.

Timing. Upgrades are automatic but take at least one business day, and new deposits can take up to 72 hours to count. If you move money to reach Premium before a planned margin loan or tax filing, please allow a few days and check that your tier has changed first.

A practical test. Look at your current net deposit total, not just today’s market value. A client who thinks they are on Core because markets fell may still be Premium on net deposits. The tier tool above uses the figure you enter, so enter the higher of the two.

3. Which Accounts Count Toward Your Tier

The published list. Wealthsimple says almost all accounts count. The accounts it names are the TFSA, RESP, RRSP, GRSP, LIRA, non-registered accounts (managed or self-directed), Crypto, Save and chequing. That covers investing, crypto, savings and everyday banking, so cash in chequing helps you reach Premium as much as money in a managed RRSP.

The gaps in the list. The published list does not name the FHSA, RRIF or LIF, even though Wealthsimple offers all three. Because the pricing page says almost all accounts count, they may well be included, but we have not seen it stated. If your plan to reach $100,000 depends on an FHSA or RRIF balance, please confirm with Wealthsimple before you count on it. Our editorial standards explain why we flag gaps like this rather than guess. The Wealthsimple TFSA review and Wealthsimple FHSA review cover those accounts.

What does not count. Money you hold at other institutions does not count. Only assets held at Wealthsimple, or by members of your Wealthsimple household, move you up.

Registered limits still apply. Reaching a tier faster is never a reason to over-contribute. The 2026 TFSA limit is $7,000, with up to $109,000 of total room for someone eligible since 2009, and the FHSA allows $8,000 a year to a $40,000 lifetime limit. Our TFSA contribution limit guide and RRSP contribution limit guide show how to check your room.

4. Households: Combining Assets for Premium or Generation

Who can form one. Any two or more Wealthsimple clients who share a residential address can form a household. Wealthsimple states no maximum size and no relationship rule, so the published rules do not limit a household to partners or family. Combined household assets count toward Premium or Generation for every member.

What members see. Members choose what to share. Others in the household can see shared balances, but they cannot move money in or out of another member’s accounts. Each person keeps control of their own accounts.

A worked threshold. If one partner has $70,000 and the other $35,000, each alone is Core. Together they hold $105,000 ($70,000 + $35,000), so as a household both reach Premium. A family of four at one address with $130,000, $200,000, $90,000 and $85,000 holds $505,000 ($130,000 + $200,000 + $90,000 + $85,000) and reaches Generation together.

The credit card caution. Premium and Generation clients pay $0 for the Wealthsimple credit card, but the waiver is written as $100,000 or more in individual assets, or $4,000 or more a month in direct deposits. If you reach Premium only through a household, please confirm the card fee is waived for you before relying on it. The metal card is also tied to $100,000 or more in individual assets.

When a household changes. Because a household is built on a shared address, a member who moves out may no longer qualify, and the combined total would fall. Please check each member’s tier after any move, separation or change of address, because the managed fee, margin rate and USD account fee follow the tier.

5. Every Wealthsimple Benefit by Tier

The full comparison. The table lists every price, rate and perk we could confirm for Wealthsimple Core, Premium and Generation on October 22, 2026. Rows that repeat across all three columns are the same on every tier. Some Medcan services are offered in Ontario only.

Partner rewards. Premium clients can choose up to three partner rewards and Generation clients get three. Separate milestone rewards start at $200,000 in assets and repeat at every additional $100,000.

What the table does not show. Lounge access and a 24/7 concierge belong to the credit cards, not the tiers: the Visa Infinite Privilege card lists more than 1,200 airport lounges. The 1% transfer match, which pays 1% of qualifying transfers of $25,000 or more up to $20,000, is the same for every tier.

6. Wealthsimple Core: What You Get From $1

The full platform at no cost. Core is not a stripped-down plan. A Core client gets $0 commissions on listed Canadian and US stocks and ETFs, $0 per contract on equity and ETF options, fractional shares from $1, every account type, 24-hour weekday trading in US-listed securities and $0 to transfer out. For a self-directed investor who buys Canadian-listed ETFs, Core costs exactly what Premium costs: nothing. Our Wealthsimple Trade review covers the self-directed platform.

Banking on Core. Chequing pays 1.25%, rising to 1.75% with a direct deposit of $2,000 or more in 30 days, with a $0 monthly fee and ATM operator fees reimbursed. Savings pays 2.5%, the same as every other tier. On $10,000 of chequing cash, Core earns $125.00 a year, or $175.00 with the direct-deposit boost.

Where Core costs more. Four charges are higher on Core: the managed fee (0.5%), the USD account ($10 plus tax a month), the margin rates (4.95% CAD, 7.5% USD) and the credit card ($20 a month unless you direct deposit $4,000 or more a month). Core also pays for Wealthsimple Tax Plus ($40 plus tax) if you want more than Basic, and lacks tax-loss harvesting on managed accounts.

Who Core suits. Self-directed investors in Canadian-listed funds, savers who direct deposit their pay, and beginners building toward their first $100,000 lose little on Core. The cost of being on Core shows up mainly for managed investors, borrowers, card users without a large direct deposit, and anyone holding US dollars.

Getting the most from Core. Direct deposit lifts chequing to 1.75%, Automated Investing caps its fee at $250 per account, and Basic tax filing is pay what you want. Our Wealthsimple Chequing review and Wealthsimple Tax review cover both in detail.

7. Wealthsimple Premium: What Changes at $100,000

Lower ongoing costs. At $100,000, the managed investing fee falls from 0.5% to 0.4%, the USD account becomes included, the CAD margin and line of credit rate falls from 4.95% to 4.45% (prime), and USD margin falls from 7.5% to 7%. The credit card fee drops to $0, subject to the individual-assets wording noted in section 4.

Better rates and service. Chequing rises to 1.75%, or 2.25% with a direct deposit of $2,000 or more in 30 days, which matches Generation’s rate. Instant deposits rise from $50,000 to $250,000. Support moves to priority phone. Managed accounts add tax-loss harvesting, which can lower tax in non-registered accounts but does nothing inside a TFSA, RRSP or FHSA.

Extras. Premium includes Wealthsimple Tax Plus (normally $40 plus tax), up to three partner rewards, 20% off a Willful online will, 30% off Medcan Year-Round Care, 20% off a Medcan Annual Health Assessment and 15% off Medcan Dedicated Care and M Care.

What stays the same. Commissions, the 0.5% crypto trading fee, the 30% staking share, the 2.5% savings rate and the $15 domestic wire fee do not change at Premium.

The direct-deposit sweet spot. A Premium client who direct deposits $2,000 or more to chequing in each 30-day period earns 2.25%, the same rate a Generation client earns without one. On $25,000 of chequing cash, that is $562.50 a year at Premium with direct deposit against $437.50 without it.

8. Wealthsimple Generation: What Changes at $500,000

Rates. Wealthsimple Generation pays 2.25% on chequing without any direct deposit; it is not eligible for the boost because it already earns the top rate. CAD margin and the line of credit fall to 3.95% (prime minus 0.5%), and USD margin to 6.5%. On a $50,000 CAD margin balance for a year, that is $1,975.00 at Generation against $2,225.00 at Premium.

Managed investing. The managed fee stays at 0.4% at $500,000 and falls to 0.2% at $10,000,000 or more. Wealthsimple does not publish the rate between those points and tells Generation clients to confirm theirs with the advisor team. Generation adds asset location and custom portfolios, and from $1,000,000 a dedicated advisor team. Households of $1,000,000 or more can also use Wealth Management at 0.8%, falling to 0.5% at $10,000,000, before fund costs.

Tax and crypto. Wealthsimple Tax Pro, normally $80 plus tax, is included, with a 30-minute consultation with a tax expert; Pro is not offered in Quebec or in French. Wealthsimple keeps 15% of staking rewards instead of 30%, and shows staking yields of up to 5% instead of up to 3.8%. Our Wealthsimple Crypto review explains how staking works.

Service and extras. Support moves to priority phone and priority email, with 24/7 chat also listed for Generation. The $15 domestic wire fee is waived. Medcan discounts rise to 40% off Year-Round Care and 30% off the Annual Health Assessment, and Generation clients get three partner rewards.

What Generation does not add. There is no lounge access or concierge as a tier perk, and the crypto trading fee stays at 0.5% plus spread. The clearest published dollar gains at Generation are the margin rate, the chequing rate without direct deposit and Tax Pro. Our Wealthsimple Managed Investing review covers the advisor services.

9. Is Wealthsimple Premium Worth It? The Managed Fee Saving

The 0.1% cut. Premium lowers the managed investing fee from 0.5% to 0.4% a year. The saving applies to your managed balance, which may be smaller than the total assets that put you in Premium. Fund costs inside the portfolios, between 0.12% and 0.15% for Classic portfolios, do not change with your tier.

Tax-loss harvesting. Premium also adds tax-loss harvesting to managed accounts. It sells holdings at a loss to offset capital gains elsewhere, which can lower your tax in a non-registered account. It has no effect inside a TFSA, RRSP, FHSA or other registered account, so its value depends entirely on how much you hold outside them. Our capital gains tax calculator shows what a realized loss can offset, and our investment fee calculator shows what your broker and fund fees cost each year.

Generation and the managed fee. Between $500,000 and $10,000,000, Wealthsimple does not publish a rate below 0.4%, so we cannot show a confirmed saving over Premium. At $10,000,000 the published floor of 0.2% would cost $20,000 a year against $40,000 at 0.4%.

The Automated Investing alternative. Automated Investing costs 0.25% a year, capped at $250 per account once the balance reaches $100,000. On a $250,000 account it costs $250.00 against $1,000.00 for a managed portfolio at the Premium rate. It is a different product, so compare features, but it shows that tier is not the only way to cut the fee. Our best robo-advisors in Canada ranking places Wealthsimple Managed Investing first at 4.2 / 5.

10. Upgrade Math: The USD Account Fee

What it costs on Core. The USD account, which lets an eligible account hold US dollars, costs $10 plus tax a month on Core after a 30-day trial, or $120 a year before tax. There is no pro-rated refund when you cancel. It is the only paid add-on on Wealthsimple’s pricing page.

What Premium changes. On Premium and Generation the USD account is included once you opt in, so the saving is the full fee: $120 a year before tax for each client who would otherwise pay it. Over two years that is $240 ($10 x 24), and over five years $600 ($10 x 60), before tax.

Reading the table. The USD account saving equals the managed fee saving at a managed balance of $120,000 ($120,000 x 0.1% = $120); below that balance, the USD account is worth more of the two. If you do not hold US dollars at all, leave that line out of your own total, and add the card fee waiver ($240) and Tax Plus ($40) from section 12 only if you would otherwise pay them.

Which accounts qualify. Wealthsimple’s help centre says a USD account can be added to a TFSA, FHSA, RRSP, spousal RRSP, LIRA, RESP or non-registered account, but not to a RRIF, spousal RRIF or LIF, so the included account adds nothing for a RRIF or LIF. US withholding tax on dividends depends on the account type, not the tier. Our Wealthsimple USD accounts review covers the account in depth, and our best brokers for dividend investing ranking, where Wealthsimple places third of seven brokers that offer DRIP, compares the brokers that reinvest dividends.

11. Upgrade Math: Chequing Interest and Borrowing Costs

Chequing interest by tier. Each tier adds 0.5% to the chequing rate, and a direct deposit of $2,000 or more in 30 days adds 0.5% for Core and Premium. Generation is capped at 2.25% with or without a direct deposit.

What that means. A direct deposit is worth as much as one tier step: Core with direct deposit earns the same as Premium without it, and Premium with direct deposit earns the same as Generation. If you can move your pay, that is often the cheapest way to raise your rate. Interest is taxable at your marginal rate outside registered accounts, and the savings account pays 2.5% on every tier if you want a higher rate without a tier change; compare it with other high-interest savings accounts. Wealthsimple Chequing ranks second of 20 in our best chequing accounts list, and Wealthsimple vs EQ Bank sets it against the top-ranked account.

Borrowing costs by tier. CAD margin and the portfolio line of credit cost 4.95% on Core, 4.45% on Premium and 3.95% on Generation, based on a 4.45% prime rate as of September 18, 2026. On $10,000 borrowed for a year, that is $495.00, $445.00 and $395.00. On $50,000 it is $2,475.00, $2,225.00 and $1,975.00. USD margin on US$20,000 costs US$1,500.00, US$1,400.00 and US$1,300.00 at 7.5%, 7% and 6.5%.

Who gains most. Borrowers gain $50 a year for every $10,000 of CAD balance at each tier step, so a $50,000 balance saves $250.00 moving from Core to Premium and another $250.00 moving to Generation. Savers who already direct deposit their pay gain less from Premium’s chequing rate than the table first suggests. Our lowest margin rates in Canada list shows how these rates compare.

12. Card, Tax and Other Perks in Dollars

The credit card. The Wealthsimple Visa Infinite+ and Visa Infinite Privilege cards cost $20 a month ($240 a year) unless waived, and they pay 2% cash back on all net purchases. Premium and Generation clients pay $0, which is worth $240 a year if you would otherwise pay. Remember that the written waiver uses $100,000 of individual assets or $4,000 a month in direct deposits, and that the cards are offered in limited quantities.

Tax software. Basic is pay what you want, including $0, and already covers every income type for up to two returns. Plus adds up to eight returns, priority email support, audit protection and spousal filing. Pro adds a 30-minute expert consultation. If Basic fits your household, the included plan is a convenience rather than a saving. Wealthsimple Tax ranks first of seven products in our best tax software in Canada scores.

Health and estate discounts. The Willful will discount (20%) and the Medcan discounts (30% and 20% on Premium, 40% and 30% on Generation, 15% on Dedicated Care and M Care for both) have value only if you buy those services. We do not have verified prices for those services, so we cannot put a dollar figure on them, and some Medcan services are Ontario only.

Service and limits. Priority phone support on Premium, and priority phone and email on Generation, matter most when something goes wrong, such as a delayed transfer. Instant deposits of up to $250,000 on Premium and Generation, against $50,000 on Core, matter if you move large sums and want to invest the same day. Our Wealthsimple credit card review covers the card’s insurance and income rules.

13. Should You Move Assets to Reach Wealthsimple Premium?

Add up what you would use. Premium’s value depends on which products you use. A self-directed investor in Canadian-listed ETFs who never borrows, holds US dollars or uses the card gains only the chequing rate and Tax Plus. A managed investor with US holdings, a card and a margin balance can gain several hundred dollars a year. Use the tables above to total only the lines that apply to you.

Count the cost of moving. Your current institution may charge a transfer-out fee, often $150. On transfers of $25,000 or more, Wealthsimple covers that fee up to $150 per account if the account stays funded for 90 days. Registered accounts must move by direct transfer, never by withdrawal and redeposit, or you can use contribution room or trigger withholding tax. Our guide to transferring an investment account covers the steps.

The 1% match. If you are eligible, Wealthsimple’s 1% transfer match pays 1% of qualifying transfers of $25,000 or more made within 30 days of registering, up to $20,000, in 24 monthly payments into chequing. A $40,000 transfer would earn $400.00, or $16.67 a month. It has run since May 4, 2026, with no end date.

Protection limits. CIPF covers up to $1,000,000 in each of three categories at Wealthsimple Investments Inc.: general accounts (cash, margin, TFSA and FHSA), retirement accounts (RRSP, RRIF and LIF) and RESPs. Chequing is covered by CDIC through partner banks up to $1,000,000 combined. If consolidating would take you above a limit in one category, weigh that before you move. Our Is Wealthsimple safe? guide explains each layer, and our CIPF vs CDIC guide compares the two protection plans.

Do not let the tier drive investment choices. Moving money only to reach a threshold makes sense when the products you already use get cheaper. It does not justify buying investments you would not otherwise hold or borrowing to inflate your balance.

14. Wealthsimple Tiers vs Questrade and Interactive Brokers Pricing

Other brokers reward size differently. At Questrade and Interactive Brokers Canada, some prices also fall as balances grow. The table compares the items that change with size, as published on October 22, 2026.

Against Questrade. Questrade includes US dollars in registered accounts at no extra cost for everyone, so a Core-sized investor who holds US stocks gets that benefit without reaching $100,000. Questwealth’s published robo fee (0.25%, or 0.20% from $100,000) is lower than Wealthsimple’s published 0.5% and 0.4%. Wealthsimple’s margin is far cheaper at every tier. See Wealthsimple vs Questrade.

Against Interactive Brokers. IBKR’s margin rate beats even Wealthsimple Generation, and it pays interest on Canadian cash above CAD 13,000, with the full rate only for accounts above USD 100,000 in net assets. See Wealthsimple vs Interactive Brokers and our best online brokers in Canada ranking, which is scored on our published methodology with no paid placements (how we make money).

What You Need and What You Get

How to Reach Wealthsimple Premium or Generation

1. Find your number. Add up the assets that count at Wealthsimple and compare your net deposits with your portfolio value. Use the higher of the two.
2. Check your household. List other Wealthsimple clients at your address. If together you clear $100,000 or $500,000, set up a household and choose what to share.
3. Decide what to move. Identify accounts at other institutions that you would hold at Wealthsimple anyway. Moving money you would keep elsewhere only for a tier rarely pays.
4. Transfer, do not withdraw. Request direct transfers for registered accounts. On transfers of $25,000 or more, Wealthsimple covers the old institution’s fee up to $150 per account if the account stays funded 90 days.
5. Wait for the upgrade. Allow up to 72 hours for deposits to count and at least one business day for the tier change.
6. Switch on what you paid for before. Open the included USD account, use the included tax plan at filing time and confirm the card fee shows $0.
7. Stay above the line. Plan large withdrawals and transfers out so your net deposits and portfolio value do not both fall below the threshold.

10 Ways to Get More From Your Wealthsimple Tier

Illustrative Example: A Household Upgrade and a Generation Decision

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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