In this article:
Overview
The Classic portfolio combines personalized choice with professional management. It offers flexible investment timing and asset selection backed by professional financial expertise. Investing the funds added to a Classic portfolio account takes 1-3 business days.
Key features of a Classic portfolio include:
- A streamlined investment process in a Classic 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
Eligible account types
You can open a Classic portfolio in the account types below:
- TFSA
- FHSA
- RRSP (including spousal RRSP)
- Non-registered (individual and joint)
- RRIF
- LIRA
- LIF
- RESP (family and individual (for yourself))
- Corporate
How to open a Classic portfolio
Follow these steps to open a Classic portfolio:
- Log in to the Wealthsimple app
- From the Home tab, scroll down and tap Open or move account
- Select Open a new account
- Choose an eligible account from the account options menu
- Select Portfolios
- Select Classic
- Tap Invest in Classic to finish
- Log in to your Wealthsimple profile
- Select + Add an account from the Home page
- Select the Investing tab (or Corporate tab for Corporate accounts)
- Choose an eligible account from the account options menu
- Select Portfolios
- Select Next
- Select a Portfolio
- Select Invest in this portfolio to finish
Customize your Classic 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 the Classic portfolio has pre-set performance options, you can make modifications, such as adjusting allocations or swapping ETFs.
Follow these steps to customize your Classic portfolio:
- Log in to the Wealthsimple app
- Tap your desired Classic portfolio
- Scroll down and tap Holdings
- Tap Customize
- To adjust specific ETFs, tap the ETF and choose from the available options
- To adjust allocations, use the decrease (-) and increase (+) buttons
- Tap Save to finish
- Log in to your Wealthsimple profile
- From the Home tab, select your desired Classic portfolio
- Under the holdings breakdown, select See details
- Select Edit
- To adjust specific ETFs, select the ETF and choose from the available options
- To adjust allocations, use the slider to increase or decrease the allocation
- Select Save to finish
Frequently asked questions
Why is there a service fee for a Classic portfolio?
What's included in a Classic portfolio?
Who is the Classic portfolio made for?
The Classic portfolio is great for investors who want a simple, hands-off way to grow their wealth. It's 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 Classic portfolio?
Yes. Please note that in-kind institutional transfers into a Classic portfolio account will be liquidated. We'll reinvest the cash in your chosen portfolio. Learn more about transferring an account to Wealthsimple.
Why hasn't the money I added to my portfolio been invested yet?
We recommend adding a minimum of $20 into your portfolio. Amounts below $20 may not trigger our investing algorithm and may remain as cash until you deposit more funds.
Can I hold cash in a Classic portfolio instead of investing my funds?
No, you can't hold cash in a Classic portfolio. The Money Market portfolio allows you to hold cash.
What kind of returns should I expect?
Our strong belief is that financial assets are an excellent bet to outperform cash, and that returns will roughly correlate with the riskiness of the Classic portfolio overall. Over long time horizons, a good rule of thumb is that our riskiest Classic portfolio earns about 4–5% returns over the rate of inflation and that less risky Classic portfolios will earn slightly less. A wide range of outcomes is possible in any year, but you should be confident that, in the long run, continually saving and investing in low-cost diversified portfolios are a good way to build wealth. When you create an account and are matched with a Classic portfolio, you'll be able to view your personal projection based on the level of risk in your Classic portfolio and your deposits.
How can I review the performance of the Classic portfolio over time?
You can review the performance of the Classic portfolio over time on our website. Follow the steps below to do this:
- Scroll down to the Performance over time section
- Select a risk level (Aggressive, Growth, Balanced, or Conservative)
- Select a performance data type (Historical or Projected)
- Select a time period (1, 5, 10, 20, or 30 years)
Review the performance over time based on your selections. You can change your selections at any time.
What if I want to open a fully managed portfolio?
You can open a fully managed portfolio for most eligible account types only on the web by following the steps below:
- Log in to your Wealthsimple profile
- Select + Add an account from the Home page
- Select the Investing tab
- Choose an eligible account from the account options menu
- Select Portfolios
- Select Next
- Select Go fully managed
- Answer the assessment questions that follow
- Select Invest in this portfolio to finish
For account types that don't have the Go fully managed option, you'll need to contact our support team to open a fully managed portfolio.
You can upgrade your Classic fully managed portfolio to the Summit portfolio on the Wealthsimple app.
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