Open a self-directed portfolio

In this article:

Overview

Portfolios combine personalized choice with professional guidance. They offer flexible investment timing and asset selection backed by professional financial expertise.

Key features of portfolios include:

  • A streamlined investment process in a portfolio built by our investment team
  • Access to low-fee, diversified investments
  • Automated optimization tools for
    • rebalancing,
    • reinvesting dividends, and
    • adjusting allocation to market swings
  • Customize your holdings according to your preferences
Tip: If you’re looking for a fully managed portfolio, please follow the steps to open a managed portfolio instead. 

Eligible account types

You can open a portfolio in the account types below:

  • Tax-Free Savings Account (TFSA)
  • First Home Saving Account (FHSA)
  • Registered Retirement Savings Plan (RRSP)
  • Non-registered

How to open a portfolio

Follow these steps to open a portfolio:

Wealthsimple app Web
  1. Sign in to the Wealthsimple app on your mobile device
  2. From the Home tab, scroll down and tap + Add an account
  3. Choose an eligible account from the account options menu
  4. Select Portfolios
  5. Choose a type of portfolio
  6. Tap Invest in this portfolio to finish
  1. Log in to your Wealthsimple account
  2. Select + Add an account from the Home page
  3. Select the Investing tab
  4. Choose an eligible account from the account options menu
  5. Select Portfolios
  6. Select Next
  7. Choose a type of portfolio
  8. Select Invest in this portfolio to finish

Customize your portfolio

You can adjust allocations, include specific ETFs, and fine-tune your plan using tailored strategies. After setup, our automated tools manage portfolio tracking. While portfolios have pre-set performance options, you can make modifications, such as adjusting allocations or swapping ETFs.

Follow these steps to customize your portfolio:

Wealthsimple app Web
  1. Sign in to the Wealthsimple app on your mobile device
  2. From the Home tab, tap your desired Portfolio
  3. Scroll down to Holdings
  4. Tap the Edit (pencil) icon on the right side
  5. To adjust specific ETFs, tap the ETF and choose from the available options
  6. To adjust allocations, use the decrease (-) and increase (+)
  7. Tap Save to finish
  1. Log in to your Wealthsimple account
  2. From the Home tab, select your desired Portfolio
  3. Beside Holdings, select the Edit (pencil) icon
  4. Select Edit
  5. To adjust specific ETFs, select the ETF and choose from the available options
  6. To adjust allocations, use the slider to increase or decrease the allocation
  7. Select Save to finish

Frequently asked questions

Why is there a portfolio automation fee for portfolios?

Portfolios benefit from expert-built investment strategies, automatic rebalancing, and dividend reinvesting, which are features we provide at a fee.

What's included in a portfolio?

Each portfolio is designed by our investment research team to align with goals like growth, stability, or income. They're diversified and come with automated tools that keep your investments on track, with no micromanaging required.

Who are these portfolios made for?

These portfolios are great for investors who want a simple, hands-off way to grow their wealth. They're backed with expert knowledge and automation, so we'll take care of the heavy lifting and day-to-day-management.

Can I transfer an account into a portfolio?

Yes. Please note that in-kind institutional transfers into a portfolio account will be liquidated. We'll reinvest the cash in your chosen portfolio. Learn more about transferring an account to Wealthsimple.

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