As a Wealthsimple client, you can reach out to your employer directly to encourage them to participate. If your employer is already participating in this program and you have questions, reference our Frequently asked questions below or contact our team at firstname.lastname@example.org for more information.
Wealthsimple aims to simplify the investing experience for all Canadians. To this end, we’re pleased to offer our Automated Broker Feed (ABF) program.
Our ABF (electronic broker feed) will allow compliance teams to easily monitor investing activity for industry participants and insiders. It also helps to ensure that employees are compliant with Canadian laws and regulations, as well as company policies, automatically and securely.
What is an Automated Broker Feed?
An Automatic Broker Feed (ABF) or “electronic broker feed” is the most reliable, accurate and secure way to collect and review a regulated or supervised firm and government agency’s employee brokerage account data. Specifically, our Automated Broker Feed will:
- Send supervised employee trading data directly from Wealthsimple to your compliance department through a secure, encrypted connection on a daily basis. The feed includes near real-time account transactions, holdings and positions for all monitored brokerage accounts held at Wealthsimple.
- Eliminate the use of paper statements or logging in to a portal to access information. This makes it easy for your compliance team to access the reporting they need when they need it.
By becoming a partner, you are also enabling your monitored employees to take advantage of everything Wealthsimple has to offer.
For more information, or to schedule a call please reach out to email@example.com.
How does it work?
When a supervised employee makes a trade using their Wealthsimple account, we send this data to your firm’s compliance vendor through the Automatic Broker Feed.
Onboard your organization
If you want your organization to start using Wealthsimple’s Automated Broker Feed program, follow the steps below:
- Reach out to us at firstname.lastname@example.org and make sure to include the below information
- We’ll schedule an intro call with your team; typically Compliance and IT/Engineering
- We’ll work with your compliance vendor to connect and test the data feed
- We work together to obtain consent from your employees the onboard them to the Automated Broker Feeds program
1. Are you an employee or firm?
2. If you are a firm looking to set up a feed, please include:
- Company name + contact
- Third party compliance vendor + contact
- Estimate # of employees/accounts
- Will crypto accounts be included?
- Will both USD and CAD accounts be included?
- Please tell us how we can help you (questions)
3. If you are an employee
- Where do you work?
- Please tell us how we can help you
Frequently asked questions
Who uses Automated Broker Feeds?
ABF’s are typically used by regulated firms or government agencies who need to monitor employee trading activities to remain compliant with the law, regulations and company policies. Any firm that has a requirement to monitor and report on employee holdings, transactions and positions can set up an automated broker feed.
I’m an employee. How does this impact me?
Once we onboard your employer into our program, we’ll ask you to complete a form granting us permission to send your employer information on your monitored accounts. If you open a new account, you’ll need to grant permission again. Your compliance department will then have the information they need to make sure you and your firm remain compliant.
We offer monitoring for both our Wealthsimple Managed and DIY accounts, so you there is no limitation in the type of account you open with Wealthsimple.
How do I know if my firm is part of the Wealthsimple Automated Broker Feeds program?
Reach out to your compliance department to find out if your firm is part of the Wealthsimple Automated Broker Feeds program.
If your firm isn’t part of our program, ask your compliance department to reach out to us at email@example.com so we can get your firm set up.
How long does it take to set up an electronic broker feeds?
Setup typically takes between 3 - 4 weeks from start to finish. We have existing integrations with all the major compliance vendors, so setup requires minimal effort from your data and engineering teams. If you work with a compliance vendor that we don’t currently support, we’re happy to set up a feed with them to support your organization.
Reach out to us at firstname.lastname@example.org for more information on how to get set up.
What types of accounts are included in electronic broker feeds?
We currently support all Wealthsimple Managed, DIY and Crypto accounts in our Automated Broker Feed program.