Wealthsimple Invest Reviews

by Jack'dsux

This is the only investment app, I’ve used that wasn’t able to link my bank account and of course the blame fell on me, but every other investment account I have has had absolutely no problem linking a bank account. That’s like square one when using a service to invest in. I will never use WealthsimpleInvest again, they have no idea what is going on over there.

EDIT: They continue to blame me for submitting incorrect banking information. They will not take the blame for messing up, of course it’s someone else’s fault not Wealthsimple. DON’T JUST STAY AWAY FROM WealthsimpleInvest, RUN!!!!! Use Stash, Fidelity, or Stockpile, they are far superior to this disgusting company that blames their customers for their mistakes. Absolutely disgusting.

by LR118

I decided to try WealthsimpleInvest yesterday. I downloaded it, entered very personal identity info, which I didn’t think I should have been asked, before I woujd set up account. Got a message that they woujd send me an email “to verify “ my identity abd I never got the email... just an error message all day long. Called customer service... closed. Emailed customer service... no response.
Very worried my info was scammed and I am removing WealthsimpleInvest . NOT A GOOD WAY TO START. Shoukd have listened to these reviews.

by Eddy Teddy UnRoosevelt

Prior to getting a financial account for WealthsimpleInvest, you probably have to verify your account.
They’ll deposit minuscule amounts for you to verify, but in order to have reached this stage, you’ll have had to order a deposit in the first place.
There will be no notifications for a couple days since you ordered it and you’ve probably asked for another deposit by then.
What’s going to happen is that both deposits will be requested and if you’re not ready or expecting it, you’ve just ordered twice what you requested to be deposited in your account.
Good luck with an nsf or an inconvenience because customer service is way to slow to counteract this.

by Csred7

FYI this company uses Equifax as a reporting agency. If any details you initially provide do not match, they request physical copies of your Social Security card and driver's license (and in some cases a copy of your VISA or Residency Documentation) which are then seemingly sent to Equifax for verification, a company that was just hacked and breached resulting in the loss of this very same information for 143 million Americans as well as Canadian citizens. Touting bank-level security and encryption will not help when they are sharing your information with reporting agencies that do not keep said information secure. My advice: think twice before sharing your sensitive information. Wealthsimple may need to rethink their security standards and partnerships.

by LOINS

Wealthsimple, you removed the ability to see all my account balances at a glance by showcasing your blog posts.

While blog posts are nice, they are not what I want to see immediately when I open my app.

The previous app version did this so perfectly. As soon as I opened my app I could see my 3 account balances and their performance at a glance, on he first screen.

Now instead, this new version forces me to swipe sideways for each account and they are in small cards. This is so you can showcase your news posts? I don’t understand your logic here. Maybe you could put your news posts in another section? I do enjoy them but I’m not down to read them nearly as much as I am to check on my account balances.

You removed the thing that made it beautiful, the trees. Now it’s just like all the other finance apps, boring, dull and blue.

I don’t want to see boring blue, tiny hard to find account balances and news and tips first thing! I want the old layout back :(

by Hilal_7

WealthsimpleInvest itself is not bad though some features need desktop but it is ok.

However, the service itself bad, they don’t respond, they don’t care, many things are manual operations and it could take a lot of time to process. It is the worst ever platform. Forget withdraw your money , it could takes months , email them or not no body care . Internal transfer between saving and investment accounts ? It is a manual operation and they have to approve it :) so slow in responsive customer support. Run away Betterment waaaaaay better

by Living In HK @2014

I screwed up: clicked through the “invest” tab when I really wanted the “trade” option. Now my app is stuck on step 3 of the “invest” tab and there’s no way to back out or cancel and go back to the main screen. I have no idea what to do as I’ve deleted and reinstalled WealthsimpleInvest , thinking that would reset it, no such luck. Can the developers please add a cancel/back button so I can get to the trade function?

by 104987432765843

I reported a potential security concern through the apps customer support chat function. I was told they couldn’t help me because they need to speak with me to verify some things. When I called the number I was provided with I got a message indicating it was outside business hours and I’d have to call back the next day - despite the fact that I wanted to report security concerns about my account. I tried to connect again with the chat and continually got a message that no agents were available.

by Arif MD

One of the worst platforms I have ever used in my life. Have been trying to get my money out since last month with no luck whatsoever. Terrible customer service, and lousy company. It has been a month and I haven’t been able to get my money out. This is very concerning, and reflects so poorly on this company. I have called multiple times and still haven’t received my withdrawal. This is the most unpleasant company and customer service team that I have ever dealt with. Would encourage all to stay away and not invest here.

by IronLordVex

I got this account thinking it would help me, boy I was wrong. Sent a funding amount on 3/19, and it didn’t post until 3/24. Not to mention my bank charged me a fee for the withdrawal which would have been balanced if it didn’t take so long. 5 business days for a funding is too long. I almost feel like they’re planning this ahead. Wealthsimple also charged me a fee so I basically got nothing out of it. If these accounts are supposed to help you it doesn’t seem like it!

by Eggbageggbag

I didn’t earn much with WealthsimpleInvest and I was put off because I could never see a visualization of what my money was doing. Worse, I’ve just transferred my money out and my balance says zero, but it hasn’t shown up in my bank account and I can’t see anything in history except for “cash transferred out”. I need a little more info and I’d love to be able to have more insight into performance.

by Empathy37

I have been investing slowly but surely with Wealthsimple for a number of years now. Overall, it’s been a very positive experience. I have never tried to make a withdrawal yet, however... and what I’m reading is certainly giving me a bit of pause.
Also, the stats that USED to be available in th app around percentage growth using various methodologies (simple, money-weighted, time weighted) were very useful, and have magically disappeared suspiciously during the largest economic downturn in decades...

by Peppermint Leaf

Dearest developers,
Looks good so far. Do some updates on your address book, the address in WealthsimpleInvest did not allow my address so I had to go on the website! Also put that page on the website simply as another tab on the bottom! Same layout is simple enough!

by LyndseyT11

In my time using Wealthsimple, I have had nothing but great customer service. Any fees I’ve gotten have been reimbursed and explained as to why they were taken out in the first place. They have great communication and WealthsimpleInvest , to me, is easy to use and understand. I don’t know anything about investing, but I can see they where they are putting my money and I’m sure if I have any questions all I can do is ask. I’ve had an extremely positive experience.

by Alawiscious

I moved to wealthsimple because I do believe in saving for the future. This is the best solution for simplicity and transparency. This industry is filled with questionable people and practices and I like being in control and aware of where every penny goes.

by Celebration Guns

Haven’t had to withdrawal yet, but making deposits and multiple accounts has been easy. I appreciate the graphs and looking into some detail of where the money is invested. More information would be nice. :)

by Petelsea1

I like the modern investing option. Easy to set up, easy to navigate. Set regular transfers, modify them, and I like to throw in a little extra here and there.

I'm hoping for a few more investing models in the future, but so far I'm pleased with Wealthsimple. Thank you.

by Trekker5211

Love WealthsimpleInvest from Wealthsimple - it is intuitive, and the design is very simple and user friendly without skimping on the important features for managing investments.

And the fact that Wealthsimple offers socially responsible investing is what places it above similar robo-advisor services.

by Jonescasey13

I barely started using Wealthsimple, less than a month. Already I have been charged $30. I have no reason why. I know they will charge a fee once your invested amount grows but I had less than $40 in my account and now a $30 fee????

I sent a support email asking why and will wait to hear back before I change my review from 1 star.

UPDATE:
I called customer support following day after sending email. David looked around and saw the fee was from a charge due to the error in processing funds from my account. Issue was fixed and was not a surprise fee.

Grateful for their support and clarity. So far so good.

by Rtibbs

I love Wealthsimple! They have always responded quickly to my requests, answered my questions when I’ve called, and most importantly walked me through the process of how I can get my investments to grow! My portfolio is up more than it was when I was using a previous company. Very happy with Wealthsimple and look forward to being a long lasting customer.

by Johnny Beans

I have been trying for weeks now to link my bank account so I can withdraw my money. There is nowhere on my website site login to enter the “micro” deposits. I have reached out to customer service. It took them over a week to respond. Their response, “our tech team is looking into this.” This is completely unacceptable for a financial organization. Their response time and customer service is major concern. Investors be aware!

by SaiyF

The interface is pleasing and easy to use, the resources and information provided are excellent for new investors.
A portfolio that is Halal and focused on Socially Responsible or Environmentally Responsible companies would be an amazing addition. A customisable option would work as well.

Great resource, one star removed for the need of more portfolio options.