Create a Wealthsimple household

In this article:

Overview

You can create a Wealthsimple household and choose which account balances you'd like to share with your partner.

The benefits of creating a household include:

  • See your combined assets: Each partner can choose what they'd like to share to get a full picture of your household finances, without merging accounts.
  • Reach Premium and Generation status sooner: Your household assets will be added together to qualify for higher interest, lower fees, and other Premium or Generation benefits sooner.
  • Double the milestone rewards: When your household reaches a milestone, each person gets to choose a reward.

Household members visibility

Household members can only view account balances. They can't move money from their partner's accounts or view account activities. Members will only see accounts if the owners have added it to their household page. Check out how to add accounts to your household view.

Household limit and eligibility

You can create a two-person household in the Wealthsimple app or web. Both members must share the same residential address.

If you or your partner needs to update your residential address, please follow these steps.

How to create a household

Follow these steps to create a household:

Wealthsimple app Web
  1. Log in to the Wealthsimple app
  2. Tap the Profile icon
  3. Tap Unlock more as a household
  4. Tap Invite your partner
  5. Select whether your partner is already a Wealthsimple client (Yes or No)
    • If Yes: Enter their name and email address associated with their Wealthsimple profile
    • If No: Enter their name and email address they'll use to create a new profile
  6. Confirm your partner's email on the pop-up and tap Send Invite
  1. Log in to your Wealthsimple profile
  2. Select the Household tab
  3. Select Invite your partner
  4. Select whether your partner is already a Wealthsimple client (Yes or No)
    • If Yes: Enter their name and email address associated with their Wealthsimple profile
    • If No: Enter their name and email address they'll use to create a new profile
  5. Confirm your partner's email on the pop-up and select Send Invite

After you invite your partner to your Wealthsimple household, they'll receive an email notification. They must accept the invitation before you can view your Wealthsimple household.

How to accept or reject a household invite

If you receive an invitation to join a household:

  1. Select Accept invitation in the invitation email
  2. Log in to your Wealthsimple profile on either the web or app
  3. Select Accept invite or Reject invite

Once you accept or reject the invitation, the inviter will get a confirmation email.

If the invitee isn't a Wealthsimple client:

  1. In the invitation email, select Accept invitation
  2. Create a Wealthsimple profile
  3. Log in to your Wealthsimple profile on the web or app
  4. Open an account
  5. Accept the household invite

View your consolidated household assets

Follow the steps below to view your consolidated assets:

Wealthsimple app Web
  1. Log in to the Wealthsimple app
  2. From the Home tab, tap Your household
  3. View your combined household assets, client status, and explore your benefits
  1. Log in to your Wealthsimple profile
  2. Select the Household tab at the top of the page
  3. View your combined household assets, client status, and explore your benefits

Manage and personalize your household

There are a few ways you can personalize your household. You can:

  • Select the accounts your partner can see
  • Give your household a name and colour

Select account visibility

Follow these steps to select which accounts you want to be visible to your partner:

Wealthsimple app Web
  1. Log in to the Wealthsimple app
  2. From the Home tab, tap Your household
  3. Tap the Settings (gear) icon in the top right corner
  4. Tap Account visibility
  5. Select the accounts your partner can see
  6. Tap Next
  7. Tap Done
  1. Log in to your Wealthsimple profile
  2. Select the Household tab at the top of the page
  3. Tap the Settings (gear) icon in the top right corner
  4. Select Account visibility
  5. Select the accounts your partner can see
  6. Select Done

Personalize your household name

Follow these steps to personalize your household name:

Wealthsimple app Web
  1. Log in to the Wealthsimple app
  2. From the Home tab, tap Your household
  3. Tap the Settings (gear) icon in the top right corner
  4. Select the pencil icon beside your household name
  5. Enter a personalized household name
  6. Choose a colour for your household
  7. Tap Done
  1. Log in to your Wealthsimple profile
  2. Select the Household tab at the top of the page
  3. Tap the Settings (gear) icon in the top right corner
  4. Select the pencil icon beside your household name
  5. Enter a personalized household name
  6. Choose a colour for your household
  7. Select Done

Frequently asked questions

Can anyone create a Wealthsimple household?

You must meet the eligibility criteria to create a household. Review the eligibility criteria.

Why didn't my partner get the email invite to join my household?

Either they're checking the wrong email, or they should check their junk or spam folders.

I'm receiving an address mismatch error. How do I verify that my address is correct?

You or your partner can view and update your address details on the Wealthsimple app or our website from the Profile section. Follow these steps to update your personal information and settings.

How often do my household portfolio value and net deposit figures update?

We update the figures daily based on the values at the end of the previous day. Any changes to your portfolio value and net deposits are reflected on the next business day. 

I created a new account. How can I add it to the household view?

When you're in a household, a card will appear to manage account visibility when you create a new account. You can set its visibility there, or from your household's settings later.

How does the household view affect my client plan eligibility?

When you join a household, your combined household income counts towards your client plan, helping you reach your Premium and Generation plans sooner. Learn more about our client plans.

Can I link accounts from other financial institutions?

Not yet. We're working to add the ability to link external accounts or add accounts manually.

Can I leave a household?

Yes. Both members can leave a household by following the steps below on the Wealthsimple web experience:

  1. Log in to your Wealthsimple profile
  2. Select the Household tab
  3. Select the Settings (gear) icon
  4. Select Leave household
  5. Select Confirm to complete your request

Can I cancel an invite?

To cancel an invite:

Wealthsimple app Web
  1. Log in to the Wealthsimple app
  2. Tap Your household
  3. Tap Manage invitation
  4. Select Cancel invite
  5. Tap Cancel invite
  6. Tap Cancel invite again to confirm
  1. Log in to your Wealthsimple profile
  2. Select the Household tab at the top of the page
  3. Select Manage invitation
  4. Select Cancel invite
  5. Select Cancel invite again to confirm

How do I personalize my household view, such as my household name, initials, and account visibility settings?

Follow the steps below to personalize your settings:

Wealthsimple app Web
  1. Log in to the Wealthsimple app
  2. Tap Your household
  3. Tap the settings icon at the top of the Household tab
  4. Tap on the profile card to change the household name or initials
  5. Tap on Account visibility to personalize your account visibility
  1. Log in to your Wealthsimple profile
  2. Select the Household tab at the top of the page
  3. Select the settings icon at the top of the Household tab
  4. Select the profile card to change the household name or initials.
  5. Select Account visibility to personalize your account visibility

Why don't my business or corporate accounts appear in the household view?

Due to compliance and regulatory reasons, only single-owner business and corporate accounts are available in the household view. Multi-owner accounts aren't supported.

Why is there a difference between my household total assets and tier qualification amounts?

These differences occur because:

  • Household total assets update in real-time, while tier qualification uses the previous day's closing balances to prevent market fluctuation impacts
  • Some accounts may not be shared by all household members
  • Certain liabilities (such as a Wealthsimple credit card) are factored into your total assets calculation

Why is my Wealthsimple credit card not in the chart?

The Wealthsimple household chart shows your total assets. Your Wealthsimple credit card is not included in that chart because it's a liability.

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