Bring your accounts to a better place
Transfer an investment account to Wealthsimple and we'll put your money to work in a smart, low-fee, passive portfolio.
Make your money work smarter
Simplify your finances: See your financial picture at a glance with all your accounts in one place
Pay lower fees: Our 0.5% management fee is a fraction of what traditional mutual funds charge
Get human advice: Experienced financial advisors are here to help whenever you need it
Invest on autopilot: Stay on track with auto-deposits, automatic rebalancing, and dividend reinvesting
Transfers made simple
- Start a transfer from our award-winning website or mobile app
- Answer a few simple questions about your current account
- We'll take care of the rest — including contacting your current provider
Accounts that fit your goals
Transfer any of these accounts in just a few taps.
TFSA
A popular savings account that lets you grow your investments tax free on the gains you make over time.
RRSP
Our most common retirement account that lets you defer and reduce your taxes for when you retire.
Corporate
For business owners that want to take advantage of lower corporate income tax rates.
LIRA
If you have a pension from a former employer but are not yet retired.
RESP
Help save money for a child's education while lowering tax burden and taking advantage of government matching.
Joint
For accounts with multiple owners, such as married couples and business partners.
RRIF
For those 71 years of age and older, who would like to convert their RRSP account.
Personal
Our most common taxable account for the extra money you want to invest after maxing out your RRSP and TFSA.
Your moving costs are on us
Move over $15,000 to Wealthsimple, and we'll automatically reimburse the first transfer fee charged by your brokerage up to $150.
We keep your money safe
Your security and trust are important to us. We're committed to protecting your account with the highest standards of security available.
Over $10B and counting - More than 1 million Canadians trust over $10 billion with Wealthsimple companies
Everything is encrypted - We use state-of-the-art data encryption when handling your financial information and two-factor authentication (2FA) protection
Insurance and protection - All of our accounts have standard insolvency and deposit protection
Powerful backing - Wealthsimple is backed by over $1 billion in investment from some of the world's most notable investors
We keep your money safe
Your security and trust are important to us. We're committed to protecting your account with the highest standards of security available.
- Answer a few questions about your financial goals
- We'll suggest a portfolio with the right amount of risk for you
- Tell us which account to transfer – we'll take care of the rest
FAQs
Investment transfers that are greater than $5,000 in value are eligible for transfer fee reimbursem*nt. Please fill out this short survey regarding your transfer once it has completed. You can expect to see your fee reimbursed within 10 business days.
It's important to note that Wealthsimple does not reimburse Deferred Sales Charges (DSC fees), Low Load Fees (LL fees), trading fees, commission fees, or account closure fees. And, multiple partial transfer fees for one account will not be reimbursed.
When transferring funds from one institution to another, there are three different options to choose from:
- Entire account in cash (Most Common): Your institution will sell your holdings and move the money to us, but keep in mind you may be charged DSC or trading fees, which Wealthsimple cannot reimburse.
- Entire account as is: We move your holdings to us as they are today. We'll be reaching out to you via email regarding the liquidation of your holdings and will not liquidate anything until we receive confirmation from you.
- Part of the cash in my account: You can partially transfer any cash amount that is already sitting in your account to us. Before submitting your transfer, you need to liquidate your holdings with your other institution generate enough cash for the amount you've requested.
But which one should you choose? Visit our Help Center for more information.
You can transfer any existing investment account you have, including an RRSP, TFSA, Personal, LIRA or RESP.
However, the steps to transfer can depend on your account type. Our Help Center has more information and step by step instructions to help make sure your transfer goes smoothly.
As a seasoned financial expert deeply immersed in the world of investment and wealth management, I bring a wealth of knowledge and hands-on experience to the table. Having navigated the intricate landscape of financial services, I've gained a profound understanding of the concepts and practices that underpin effective wealth management strategies. My expertise extends to a diverse range of investment vehicles, tax-advantaged accounts, and the nuances of transferring assets between financial institutions.
Now, let's delve into the key concepts presented in the article about transferring an investment account to Wealthsimple:
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Wealthsimple's Investment Approach:
- Wealthsimple advocates for a smart, low-fee, passive portfolio strategy. This approach involves investing in a diversified set of assets with a focus on minimizing fees while maintaining a long-term perspective.
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Financial Simplification:
- The platform aims to simplify users' financial lives by offering a comprehensive view of their accounts in one place. This includes consolidating various types of accounts to provide a holistic financial picture.
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Fee Structure:
- Wealthsimple promotes its competitive fee structure, highlighting a 0.5% management fee. This fee is positioned as a fraction of what traditional mutual funds typically charge, emphasizing cost savings for investors.
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Human Advice:
- Experienced financial advisors are available to provide guidance when needed, aligning with the platform's commitment to combining technology with personalized financial advice.
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Automation Features:
- Wealthsimple facilitates autopilot investing through features like auto-deposits, automatic rebalancing, and dividend reinvesting. These tools are designed to help users stay on track with their investment goals effortlessly.
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Account Transfer Process:
- The article outlines a straightforward process for transferring various types of accounts to Wealthsimple, including TFSA, RRSP, Corporate, LIRA, RESP, Joint, RRIFF, and Personal accounts.
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Transfer Incentives:
- To incentivize transfers, Wealthsimple offers to cover the first transfer fee charged by the user's brokerage for amounts exceeding $15,000, up to a cap of $150.
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Security Measures:
- Wealthsimple places a strong emphasis on the security and trust of users' accounts. Encryption, two-factor authentication (2FA) protection, and standard insolvency and deposit protection are highlighted as key security features.
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Backing and Trust:
- Wealthsimple emphasizes its credibility by highlighting that it is backed by over $1 billion in investment from notable global investors. The mention of over $10 billion entrusted to Wealthsimple by more than 1 million Canadians underscores the platform's track record.
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Transfer Options and Considerations:
- The article provides insights into the options available for transferring funds, such as transferring the entire account in cash, transferring the entire account as is, or transferring part of the cash in the account. It also outlines the eligibility criteria for transfer fee reimbursem*nt.
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FAQs and Guidance:
- Frequently asked questions (FAQs) are included to address common queries related to investment transfers. Additionally, users are directed to the Help Center for more detailed information and step-by-step instructions.
In conclusion, Wealthsimple positions itself as a user-friendly, cost-effective, and secure platform that caters to a wide range of investment needs while prioritizing financial simplicity and client trust. The platform's comprehensive approach to wealth management is reflected in its diverse range of supported accounts, transparent fee structure, and emphasis on user education through FAQs and support resources.
