BrokAIr Reviews

Wealthsimple Review

Wealthsimple's commission-free stock trading has come under fire lately for being too good to be true - is Wealthsimple too good to be true?

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Wealthsimple Overview

Wealthsimple is a leading online brokerage based in Toronto, Canada. Founded in 2014, the firm provides users with a range of services including portfolio management, automated investing, and financial advice. The company has been recognized for its innovative approach to financial planning, offering a modern and user-friendly experience for those looking to manage their investments.

Top Pros

Top Cons

Founders

Wealthsimple was founded by Michael Katchen and Brett Huneycutt in 2014. Both founders have extensive backgrounds in finance, technology, and entrepreneurship. Katchen previously served as an early executive at Shopify before founding Wealthsimple. Huneycutt was a management consultant and project manager at Deloitte before co-founding the company.

Public Opinion

Public opinion of Wealthsimple has generally been positive. Many users have praised the platform for its low fees and user-friendly design. Additionally, the company's focus on tax efficiency has been well-received from those looking to maximize their returns. On the other hand, some users have criticized the platform's limited range of investments and lack of fractional shares.

Newsworthy Events

Wealthsimple has been involved in a number of newsworthy events since its founding. In 2019, the company acquired US-based financial advisor Jemstep for $30 million. In 2020, Wealthsimple raised $750 million in new funding, valuing the company at $5 billion. Additionally, the company has received numerous awards over the years, including being named one of Canada's Most Admired Corporate Cultures.