Protecting our clients’ assets is our top priority. As a client of Wealthsimple, you are entitled to insurance coverage so that your money stays your money.
Here are the different types of coverage we offer by product to help keep your assets safe.
Wealthsimple Managed and DIY accounts
- For Wealthsimple investing clients, our affiliated custodial broker, Wealthsimple Investments Inc., is a member of the Investment Industry Regulatory Organization of Canada and customer accounts are protected by the Canadian Investor Protection Fund within specified limits. You can learn more here. In the extremely unlikely event that Wealthsimple were to go out of business, your account would remain safe. All securities are beneficially held under your name, which means you could choose to keep your money with Wealthsimple Investments Inc. or transfer it to a new advisor or your bank account.
Wealthsimple Crypto accounts
- We hold your crypto in trust, which means in the unlikely event something happens to us, your crypto is protected from claims by our creditors.
- We hold the majority of our clients’ crypto with regulated third-party custodians that specialize in crypto custody, have appropriate insurance and sufficient capital – in turn reducing risk for all our crypto clients.
- You can read more from our Head of Legal for Crypto here.
Wealthsimple Cash and Save accounts
- For Wealthsimple Cash and Save clients, any balance in your account(s) is held in trust for you with members of the Canada Deposit Insurance Corporation (CDIC), a federal Crown corporation. CDIC protects eligible deposits held at CDIC member institutions in case of a member institution’s failure.
- Although Wealthsimple is not a CDIC member institution, under the trust framework, CDIC insures eligible cash balances up to $100,000 per beneficiary per member institution. Coverage is free and automatic. You can learn more here.
Full details about our regulated products, entities and coverage can be found on our legal page here.
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