Great! Welcome to Wealthsimple.
Your first step to opening an RESP at Wealthsimple will be to create a profile. You can learn more about how to start a profile here. You’ll need to enter some personal information about yourself to begin with, along with indicating your financial goals (for example, saving for your child’s education). Overall this process should take about 10 minutes.
Once your Wealthsimple profile is created, you'll then be able to open an RESP. To get started you'll need to have the child's information handy (including their SIN, full legal name, birth date, gender, and province of residence) in order to name them as a beneficiary to the account.
As you go through the RESP account opening process, you’ll be able to indicate whether you’d like to apply for the Canada Learning Bond (CLB) or Additional Canadian Education Savings Grant (A-CESG) by checking off the relevant boxes at the very bottom of the page. We recommend applying for both.
So you've gone through and opened your RESP - now what?
Once your RESP is open, we'll automatically apply for the CLB and A-CESG on your behalf with the government - so no further action is required from you in order to receive these benefits!
Interested in learning more about Wealthsimple in general? We'd recommend starting here.