Wealthsimple Referral

About

About Wealthsimple

Wealthsimple is Canada's leading fintech for commission-free investing, robo-advisor portfolios, and digital banking. It's known for its beginner-friendly app, $0 commissions, fractional shares, and seamless integration of investing, saving, and tax tools. Regulated by CIRO, with CIPF insurance up to $1M.

About WealthBar

WealthBar was one of Canada's first robo-advisors, founded in 2014 and now part of CI Direct Investing. It offers managed ETF portfolios, financial planning, and access to private investment options. WealthBar is known for its personalized advice, hybrid human-robo model, and transparent fees. Regulated by CIRO, with CIPF insurance.

Feature Comparison

Feature Wealthsimple WealthBar
Management Fee0.4–0.5% (drops at $100k+)0.35–0.60% (tiered, $1,000 min)
ETF MERs~0.15–0.25%~0.13–0.25%
Account TypesPersonal, TFSA, RRSP, RESP, LIRA, Joint, CorporatePersonal, TFSA, RRSP, RESP, LIRA, Joint, Corporate
Portfolio TypesStandard, SRI, Halal, HISAStandard, SRI, Private Pools
Minimum Investment$0$1,000
Financial PlanningIncluded (Premium+)Included (all clients)
PlatformWeb, Mobile AppWeb, Mobile App
Automatic RebalancingYesYes
Human AdviceYes (Premium+)Yes (all clients)
Private InvestmentsGeneration onlyAvailable (private pools, alt funds)
SafetyCIRO regulated, CIPF up to $1MCIRO regulated, CIPF up to $1M
SupportChat, email, phone (priority for Premium)Phone, email, chat
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Pros & Cons

Wealthsimple Pros

  • Low fees (0.4–0.5%)
  • Automated portfolios, hands-off investing
  • Socially Responsible & Halal options
  • No minimum investment
  • Unified app for investing, saving, tax

Wealthsimple Cons

  • Limited portfolio customization
  • No direct access to private pools (except Generation)
  • Some advanced features require Premium/Generation

WealthBar Pros

  • Personalized financial planning for all clients
  • Access to private investment pools
  • Hybrid human-robo advice model
  • Transparent, tiered fee structure
  • Strong educational resources

WealthBar Cons

  • $1,000 minimum investment
  • Fewer specialty portfolios (no Halal)
  • Mobile app less polished than Wealthsimple

Who Should Choose Which?

Choose Wealthsimple if…

  • You want the lowest minimums and easy onboarding
  • You value a unified app for investing, saving, and tax
  • You want SRI or Halal portfolios
  • You prefer a simple, mobile-first experience

Choose WealthBar if…

  • You want access to private investment pools
  • You value personalized financial planning for all clients
  • You prefer a hybrid human-robo approach
  • You have at least $1,000 to invest
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