Apps like wealthsimple is an investing app that automates the process of saving for big goals like buying a home or going on vacation. By asking you questions about your goals and when you want to reach them, it builds a portfolio that aligns with your time horizon and risk tolerance. It also factors in how much money you need to save, so it can help make saving seem less intimidating.
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It has a clean interface and supports biometric login. The app lets you manage your portfolio, track your progress, and see a list of all your accounts and holdings in one place. You can also create watchlists and set up price alerts. The app doesn’t have a lot of research tools, but it does offer news for the investments you hold and you can access ETF prices at any time.
You can buy and sell stocks, ETFs, and cryptocurrency on the Wealthsimple platform. You can open an account for free in Canada and you can deposit cash from your bank into Wealthsimple’s investment accounts. You can also use the Wealthsimple Save service to put aside money into tax-efficient savings accounts such as an RRSP or TFSA.
The website and app are easy to navigate, and customer support is available via email and chat (with a virtual assistant) seven days a week. You can also speak to a human customer service representative over the phone during business hours.…