Update your portfolio risk level or theme

In this article:

Overview

When you open a managed account with Wealthsimple, your account will have it’s own risk level and theme. You can update an account’s risk level or theme at any time.

  • Portfolio risk level
    Your portfolio risk level is based on your financial goals, time horizon, risk tolerance, past investment experience, and level of investment knowledge. When these change, you may want to adjust your risk score accordingly. You may even want different risk scores for each portfolio, as you may have different time horizons and goals for each account.
  • Portfolio theme
    Wealthsimple currently offers three different portfolio themes for managed accounts: standard socially responsible investing (SRI), and Halal. The theme determines the type of assets we’ll hold in your portfolio.

Portfolio risk assessment

Approximately one year after you open your managed account, we'll prompt you to complete a portfolio risk assessment to ensure you’re on track to achieving your goals. We'll send you and email and you'll be prompted in the Wealthsimple app when it's time to complete your risk assessment. Risk assessments are sent on a yearly basis. Learn more about portfolio risk assessments. 

Update your risk level

Each managed account you have with Wealthsimple will be assigned one risk level.

Tip: To learn about how we define risk and the different risk levels in managed Wealthsimple portfolios, check out our Advice on Risk Profiles.

To update your risk level, follow these steps —

Wealthsimple app Web
  1. Log in to the Wealthsimple app on your mobile device
  2. Select the Home tab at the bottom of your screen
  3. Choose your desired account
  4. Under Holdings tap View and manage
  5. Tap Edit to adjust your risk level
  6. Choose your desired risk level using the slider
  7. Tap Update to submit your changes
 
  1. Log into your Wealthsimple profile
  2. Under Accounts, select your desired Managed account
  3. Under Holdings, select View and manage
  4. In the top right corner of your portfolio holdings overview, select Edit
  5. Use the plus and minus buttons to choose your new risk level
  6. Select Update, then select Confirm
Note: It can take up to 3 business days to update your portfolio risk level.

Request a risk level change

You can only move your risk level a few levels up or down yourself. If you want to change your risk level outside of your current risk window, you need to book a call with one of our portfolio managers. 

Update your theme

If you wish to update your theme, you can follow these steps —

Wealthsimple app Web
  1. Log in to the Wealthsimple app on your mobile device
  2. From the Home tab, choose your desired account
  3. Under Account details, tap Theme
  4. Choose your desired theme
  5. Tap Update

You can't change your theme on the web/desktop experience of Wealthsimple. You must use the Wealthsimple mobile app. 

Note: It can take up to 3 business days to update your portfolio theme.

Frequently asked questions

Can I invest my portfolio in 100% equities?

In order to move your account into 100% equities, you'll need to connect with one of our Portfolio Managers so that we can make sure this investment is suitable for you. Please reach out to our support team and we will let you know the next steps.

You can read more about the role that fixed income plays in creating a well-diversified portfolio in this article.

Can I keep a cash balance in my account managed by Wealthsimple?

Wealthsimple's managed accounts are designed to automatically invest any funds you add to an investment account. When you add funds to a managed account, we'll automatically invest your money for you. This means that it's not possible to have a cash balance in your account.

There may be times when you want to reduce your exposure to market forces and avoid any losses. In this case, moving your funds to a high-interest savings ETF might be a good choice.

If you'd like to invest in a high-interest savings ETF, please reach out to our support team for next steps.

Note: A non-registered account cannot be invested in a high-interest savings ETF.

Why hasn’t my risk level been changed yet?

Our team reviews each portfolio change request. This typically takes 1-2 business days. In certain cases, we may ask you to schedule a chat with one of our portfolio managers. This is because changes require approval from a Portfolio Manager to ensure that your investment changes are aligned with your goals. This is part of our fiduciary responsibility to our clients.

If it has been more than 2 business days and you haven't heard from us, please check your email for a message titled “Action Required to Invest your Funds” or similar from a Portfolio Manager. If you don’t see anything, please contact our support team.

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