Wealthsimple Black FAQ

What is Wealthsimple Black?

Wealthsimple Black is a premium service for clients who have invested $100,000 or more in Wealthsimple accounts. As a Wealthsimple Black client, you get tax-efficient investing, goal-based financial planning with an experienced portfolio manager, and Priority Pass airline lounge access for 10 visits annually.

How do I become a Wealthsimple Black client?

If you're new to Wealthsimple, you can become a Wealthsimple Black client by signing up and funding your account with $100,000 or more. More on how to fund your account here.

If you're an existing client, once your net deposits reach $100,000 you'll automatically receive Wealthsimple Black status and be charged lower fees. We'll send you an email detailing the perks!

What happens if I make a withdrawal that puts my portfolio balance under $100,000?

To qualify for Wealthsimple Black, you must have $100,000 or more in net deposits in Wealthsimple accounts. If you withdraw to below $100,000 in net deposits, you'll lose your Wealthsimple Black status.

What happens if the market dips, putting my portfolio balance below $100,000?

To qualify for Wealthsimple Black, you must have $100,000 or more in net deposits in Wealthsimple accounts. As long as your net deposits are over $100,000, you'll retain your Wealthsimple Black status, regardless of what the markets do.

I'm already a Wealthsimple client. Will my fees change?

Under our new pricing structure, the fees you pay to Wealthsimple will either be lower or remain the same. If you have under $100,000 invested, you'll continue to pay a management fee of 0.5%. If you have over $100,000 in net deposits invested, your entire fee will be lower - you'll pay 0.4% instead of 0.5%.

You can always see the fees you pay to Wealthsimple under the Activity tab in your profile. And you can find more on how Wealthsimple charges fees here.

If I have more than $100,000 in my portfolio, but some or all of it is in a joint account, do I qualify for Wealthsimple Black status? Does the other account holder?

Both you and the other account holder qualify for Wealthsimple Black status if you each have net deposits of $100,000 or more across your accounts - including joint accounts. 

How do I access financial planning?

As a Wealthsimple Black client, you have access to goal-based financial planning with one of our experienced portfolio managers. Get in touch anytime at black@wealthsimple.com to get advice or set up a planning call.

Priority Pass

How do I receive my Priority Pass membership?

The day after deposits to your portfolio reach the $100,000 threshold, you'll get an email from Wealthsimple with a code and a link to a registration page. Click the link and follow the prompts to register for your Priority Pass.

Once you're registered, you'll get access to VIP airline lounges around the world. Priority pass will also send you a physical access card by mail in 3-5 weeks, but you don't have to wait for it to arrive to start using the lounge. Enjoy!

If I'm travelling with someone, can they come with me to the airport lounge?

Yes! We’ve made our Priority Pass offering even more flexible, so you can share it with whoever you’re travelling with. That means your 10 priority pass visits can be split between you and the guests you’re travelling with. Remember, each guest you bring will count as 1 visit.

Once you’ve used up all of your complimentary visits, any additional visits will automatically be charged to the credit card you have on file with Priority Pass. It’s your responsibility to keep track of the number of visits you take — you can do so easily through the Priority Pass website or app.

This change in service offering has no effect on Wealthsimple Generation clients. All Generation clients will continue to receive Passes containing access for one guest and unlimited annual use.

Can my Priority Pass access be transferred or shared?

Your Priority Pass lounge access covers you personally. It can't be shared or transferred - as the cardholder, you need to be there!

Are there any restrictions to where and how often I can use the pass? Do I have to pay?

As of October 1, 2019, your Priority Pass covers up to 10 visits, that can be used by you and guests that you’re travelling with. For example, if you bring two friends to the lounge with you, that counts as 3 of your 10 annual visits.

Once you’ve used up all of your complimentary visits, any additional visits will automatically be charged to the credit card you have on file with Priority Pass. It’s your responsibility to keep track of the number of visits you take — you can do so easily through the Priority Pass website or app. Using your Priority Pass card, you'll have access to 1,000+ airport lounges in more than 500 cities globally for both you personally. Visit PriorityPass.com for details on member benefits and where to find a lounge for your next trip.

This change in service offering has no effect on Wealthsimple Generation clients. All Generation clients will continue to receive Passes containing access for one guest and unlimited annual use.

How do I find a Priority Pass lounge?

You can find a lounge for your next trip by entering the city, airport name or airport code on the Priority Pass website. And when you receive your Priority Pass card in the mail, it will come with instructions on how to download a handy app to help you find participating lounges wherever you are. Enjoy!

Does my Priority Pass expire?

Your Priority Pass is valid for 12 months from the date of issue.

Wealthsimple for Advisors Clients

I'm a Wealthsimple for Advisors client. Do I qualify for Wealthsimple Black status?

No, Wealthsimple for Advisor clients are not eligible for Wealthsimple Black.

I'm a Wealthsimple for Advisors client. Will my fees change?

No, you won't see any change to the fees you pay.