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 built by our investment team
- Access to low-fee, diversified investments
- Automated optimization tools for rebalancing, reinvesting dividends, and adjusting allocation to market swings
When you open a Classic portfolio, you'll complete a suitability assessment that checks your goal, timeline, risk tolerance, and household financials. Based on your answers, you'll be matched to one of four risk profiles: Conservative, Balanced, Growth, or Aggressive. In some cases, you may be recommended a Vanguard Fixed Income portfolio instead — see the Frequently asked questions section below for details.
Eligible account types
You can open a Classic portfolio in the account types below:
- TFSA
- FHSA
- RESP (individual and joint)
- RRSP (including spousal RRSP)
- Non-registered (individual and joint)
- RRIF
- LIRA
- LIF
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 to your Accounts
- Tap the add (+) button
- Select Open a new account
- Select Classic under Wealthsimple portfolios
- Tap Invest in Classic
- Choose an eligible account from the account options menu
- Choose who will use this account, if applicable
- Follow the prompts to finish opening your Classic portfolio account
- Log in to your Wealthsimple profile on a laptop or computer.
- Select + Add account from the Home page.
- Select the Invest category.
- Select Let our experts do it, then choose Classic from the available portfolios.
- Select Invest in Classic.
- Choose an eligible account type from the account options menu.
- Choose who will use this account, if applicable.
- Follow the prompts to open your Classic portfolio account.
Risk profiles
Based on your suitability assessment, you'll be matched to one of four risk profiles:
| Name | Risk level | Stocks | Bonds | Gold |
|---|---|---|---|---|
| Conservative | 2 of 10 | 40% | 57.5% | 2.5% |
| Balanced | 5 of 10 | 60% | 37.1% | 2.9% |
| Growth | 8 of 10 | 80% | 17.5% | 2.5% |
| Aggressive | 10 of 10 | 100% | 0% | 0% |
You can update your risk profile or switch to a different portfolio type at any time.
Frequently asked questions
Why was I recommended Vanguard Fixed Income instead of Classic Conservative?
In certain situations, the suitability assessment may recommend a Vanguard Fixed Income portfolio instead of Classic Conservative. This can happen if:
- Your goal has a short timeline (roughly 1–3 years), and equity exposure is considered too volatile to reach your goal reliably by then.
- Your financial situation includes factors like high debt, limited emergency savings, or a limited financial cushion.
This recommendation is based on your financial profile — it isn't a product restriction. Please contact our support team if you have any questions about your recommendation.
Can I upgrade my Classic portfolio to Summit?
Yes. If you have a Classic portfolio in a non-registered, RRSP, or TFSA account, you can switch to Summit directly in the app or on the web. You'll need to meet Summit's eligibility requirements (at least $30,000 in liquid assets and $30,000 in net worth).
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. How your holdings are handled depends on where they're coming from.
From another financial institution
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.
From another Wealthsimple account
You can move holdings from an eligible Wealthsimple account, such as an Automated Investing account, into a Classic portfolio yourself using the Move feature in the Wealthsimple app. Your holdings transfer in-kind, and our team then buys and sells securities as needed to bring the account in line with your Classic portfolio's target allocation.
Learn more about transferring holdings between Wealthsimple accounts.
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.
Where can I see the performance of the Halal and SRI portfolios over time?
Please contact our support team for more information on the performance of the Halal and SRI portfolios over time.
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