Wealthsimple? - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

GoinAllTheWay · 01-31-2017, 01:07 PM

Read about these guys in CBC today. I've been wanting to invest in the stock market for some time but I honestly have no idea what to do or how to get started. I like the sounds of this company as the fees appear low and you don't have to have to maintain a high balance. They are a Canadian company that appears poised to enter into the American market so they must be doing something right?

Anyone using them? Thoughts?

https://www.wealthsimple.com/en-ca/

Ozy_Flame · 01-31-2017, 01:22 PM

I seem them as promoted ads all over my social media . . . They are aggressively expanding, but I think they are solid from what I know in my limited understanding.

Cappy · 01-31-2017, 01:26 PM

I use wealth simple.

They are a mutual fund with no minimum investment and low management fees (only charge after $10,000 invested, i think. Can increase that amount with referrals).

You can select the aggressiveness of your investments, from aggressive to conservative.

I'm in long-term growth and sitting at about 3-4% ROI since October when i joined. I have a buddy in aggressive growth plan for the last year and a half that is closer to 10% ROI. Not the best ROI, but better than the savings account.

If you want to invest some money and not worry about doing the appropriate DD, then it's a great option.

Slava · 01-31-2017, 02:52 PM

I think it will be interesting to see how these companies do going forward. In the US there are some huge companies (in terms of assets in management) and really the average account size is not huge (under $20k is what I read). That means that they're pulling in $50-$100 per client, per year. That's pretty rough, and it's hard to stay in business with that kind of margin.

OMG!WTF! · 01-31-2017, 03:45 PM

What's your goal here? In relation to market performance, what do you expect?

troutman · 01-31-2017, 04:10 PM

I was happy to see the new style annual statements my financial planner now has to provide. For the first time I can clearly see what I contributed and what interest I earned for the year. I can see exactly the fee that my planner's firm earned, and I have to say it is very fair for what was accomplished. I suppose I thought they were taking a bigger chunk. Full disclosure is good.

http://www.theglobeandmail.com/globe...ticle30940494/

http://ca.rbcwealthmanagement.com/do...a-75efe6f3c2db

Tyler · 01-31-2017, 04:18 PM

I've used WS for about 16 months now.

10/10 on the risk front (90% equities, 10% fixed income)

Time-weighted returns have been about 16.5%

LOVE IT

Automatic re-balancing, dividend reinvesting. Referred a few friends so my management fee is very small.

Website is slick. Mobile app is awesome.

Couldn't recommend it more to people who want a set it and forget it investment plan.

They're releasing a SuperBowl ad and have huge backers, so I wouldn't worry about this company being a flash in the pan.

puckedoff · 01-31-2017, 05:20 PM

I invest through a different company, returns are guaranteed 30% quarterly and they have an app as well. There is a minimum investment but no minimum holding period.

Slava · 01-31-2017, 05:27 PM

Quote:

Originally Posted by puckedoff

I invest through a different company, returns are guaranteed 30% quarterly and they have an app as well. There is a minimum investment but no minimum holding period.

Pyramid Investments?

nik- · 01-31-2017, 05:29 PM

yeah that sounds like a ponzi scheme

Slava · 01-31-2017, 05:30 PM

Quote:

Originally Posted by Tyler

I've used WS for about 16 months now.

10/10 on the risk front (90% equities, 10% fixed income)

Time-weighted returns have been about 16.5%

LOVE IT

Automatic re-balancing, dividend reinvesting. Referred a few friends so my management fee is very small.

Website is slick. Mobile app is awesome.

Couldn't recommend it more to people who want a set it and forget it investment plan.

They're releasing a SuperBowl ad and have huge backers, so I wouldn't worry about this company being a flash in the pan.

They do have huge money behind them (Power Corp. which is also Investors Group, Canada Life and Mackenzie Mutual Funds). But on $750mm in der management its a mere $3.7mm in revenue. I don't know if that moves the needle enough at a $23-24bn company.

burn_this_city · 01-31-2017, 05:32 PM

I'd like to subscribe to the newsletter promising 120%+ return annually.

Philly06Cup · 01-31-2017, 05:45 PM

If you don't want to educate yourself, then yes, Wealthsimple / Wealthbar are better than buying mutual funds through your bank. But, they still take a small commission, since they have to make money somehow. If you're more inclined, read up, assess your own risk profile, and buy your own ETFs through Questrade/VirtualBrokers. Barely any fees and cut out the middle man.

Coach · 02-01-2017, 07:57 AM

Quote:

Originally Posted by puckedoff

I invest through a different company, returns are guaranteed 30% quarterly and they have an app as well. There is a minimum investment but no minimum holding period.

If anyone ever gives you a guaranteed ROI, you should probably run the other way.

Pretty sure it's illegal for any investment advisor or fund company to guarantee anything.

Slava · 02-01-2017, 08:18 AM

^ I just assume he was joking...

puckedoff · 02-01-2017, 10:11 AM

Quote:

Originally Posted by burn_this_city

I'd like to subscribe to the newsletter promising 120%+ return annually.

You should enroll next month, which is when I plan to get out. The key is timing, and not getting too greedy.

OMG!WTF! · 02-01-2017, 10:23 AM

Quote:

Originally Posted by puckedoff

You should enroll next month, which is when I plan to get out. The key is timing, and not getting too greedy.

Is it difficult to be "accepted" by the institution handling your investments? Can you refer me?