Keeping your profile open will make it easier for you to access your annual tax slips and your monthly account statements. There is no charge for keeping an un-funded account open with Wealthsimple.
If you decide to keep your account but don’t want updates from us, you can unsubscribe from our mailing lists by updating your communication preferences in your account settings.
If you would still like to deactivate your profile, you can do so directly from your profile.
Once your account balance is $0, you can close your Wealthsimple profile by following these steps:
- Log into your Wealthsimple mobile app
- Tap the Profile icon at the bottom of the screen
- Choose Personal information
- Scroll down and tap Delete profile
- Confirm by tapping I'm ready to delete
- Log into my.wealthsimple.com and sign in to your Managed Investment & Save profile
- Click on your name on the top right side
- Select Settings
- Scroll down to the bottom and click Deactivate profile
- Confirm by clicking Deactivate my profile
A note from our legal team:
We are required to keep records of your personal information for up to 7 years in accordance with our regulatory obligations. This is a requirement from the Government of Canada and is in compliance with the Income Tax Act.
Wealthsimple Investments Inc. is a registered investment dealer in each province and territory of Canada and a member of the Canadian Investment Regulatory Organization (CIRO). As a member of CIRO, under rule 3803, a Dealer Member must retain copies of all records in a safe location required under CIRO requirements, in a durable and accessible form, for a minimum of seven (7) years from the date the record is created.
When an account is opened with us, we are required to fulfill our obligation under rule 3803. These records will have to be maintained for a minimum of 7 years.
Wealthsimple is also required to maintain certain records for a minimum of five (5) years following account closure under anti-money laundering and terrorist financing laws and regulations. If you would like more information on this, you can find more information here.