You can check how close you are to reaching Wealthsimple Black status by following the instructions below –

1. Log into my.wealthsimple.com and sign in to your Invest & Save profile
2. Click on your name in the top right corner the screen
3. Select the Upgrade menu item
4. Review your net deposit total

You’ll automatically receive Wealthsimple Black status once your net deposits reach $100,000. We'll send you a welcome email as soon as the funds settle in your account.

Net deposits are calculated as the sum of all deposits, contributions, and institutional transfers to your Wealthsimple Invest & Save accounts, less withdrawals and transfers to other institutions.

While the net deposits calculation is cumulative across your Wealthsimple accounts, you should only include net deposits for Wealthsimple accounts where you are the primary owner or sole owner.

Any deposits you make to a joint account are only attributed to the primary account owner.

If you are the secondary account owner of a joint account, your net deposits won't be double-counted towards your status.

Both you and the other account holder qualify for Wealthsimple Black status when each of you has net deposits of $100,000 or more across accounts where you are the primary owner or sole owner. If you and a secondary account holder only have a joint account with Wealthsimple, you would need to each deposit $100,000 for both of you to qualify for Wealthsimple Black.

If you withdraw to below $100,000 in net deposits, you'll lose your Wealthsimple Black status.

As long as your net deposits are over $100,000, you'll retain your Wealthsimple Black status, regardless of what the markets do.

If your advisor feels you would benefit from a financial planning session, they will help you set one up during your initial call with them. A financial planning session is a conversation with one of our experienced portfolio managers. They might focus on a few different areas, depending on your goals.

1. To start, we'll send you a worksheet asking you to share some details about your financial situation. Once completed, we'll be able to speak to the overall health of your financial situation.
2. We'll check whether you're on track to achieve your financial goals (and provide some recommendations on how to get back on track if needed). For example, if you're hoping to retire at a certain age, or make a big purchase in the future - we can check whether you're on track and, if required, help you plan for and recommend any adjustments to help you get there.
   We can also help you plan a retirement income strategy that will provide you with the most benefit - such as minimizing taxes.
3. After the session, we'll send you a financial plan document so you have something to reference both during the session and afterwards. This is a living document and will change and grow along with you.

When you hit Wealthsimple Black status, we'll send you an email with a unique voucher code. You can redeem this code when signing up for Medcan services over the phone.