Wealthsimple Generation is our highest tier of premium services for clients who have net deposits of $500,000 or more in their Wealthsimple Invest & Save accounts.
- Pay lower fees
Your Wealthsimple Invest management fee drops to only 0.4%.
- Get a personalized financial report customized to your goals
Whether that's establishing an income strategy for retirement or preserving wealth for future generations. It includes net worth and cash flow analysis, financial projections, and actions to take.
- Priority service
Get answers to all your Wealthsimple questions – fast. When you email our support team, we'll redirect you to a dedicated team for our Generation clients. They’re equipped to handle your questions quickly or connect you with our portfolio managers for more financial support.
- 50% off Medcan’s Comprehensive Care plan (Ontario only)
Medcan's Comprehensive Care plan helps you optimize your health with a range of services, including an annual health assessment, year-round care membership, travel insurance, and genetic counselling. As a Wealthsimple Generation client, you get 50% off ($2,353 in savings). You can learn more about the Comprehensive Care plan here.
- Get six months of medical care for free (Ontario only)
Get quick access to everyday medical care, expert medical advice, and services covered outside of OHIP with Medcan’s Year Round Care plan. As a Wealthsimple Generation client, your first 6 months are free.
- Maximize your tax efficiency
You’ll get access to tax-efficient features like tax-loss harvesting and tax-efficient funds.
- Get access to expert advice
You can set up financial planning sessions with our team of experienced portfolio managers.
- Get a discount on your will preparation
As a Wealthsimple Generation client, you’ll get 15% off your first online will with Willful.
If you're an existing Wealthsimple Generation client and would like to chat with our team of portfolio managers, please let us know and we'll help you set up a time.
Frequently asked questions
How do I know when I hit Wealthsimple Generation status?
You’ll automatically receive Wealthsimple Generation status once your net deposits reach $500,000. We'll send you a welcome email as soon as the funds settle in your account.
How do you calculate net deposits?
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.
I have some or all of my $500,000 in a joint account; will I qualify for Wealthsimple Generatino status? Does the other account holder?
If you are the secondary account owner of a joint account, net deposits won't be be double-counted towards your status.
Both you and the other account holder qualify for Wealthsimple Generation status when each of you has net deposits of $500,000 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 $500,000 for both of you to qualify for Wealthsimple Generation.
What happens if I make a withdrawal that puts my balance under $500,000?
If you withdraw to below $500,000 in net deposits, you'll move to Wealthsimple Black status.
What happens if the market dips, putting my balance below $500,000?
As long as your net deposits are over $500,000, you'll retain your Wealthsimple Generation status, regardless of what the markets do.
What’s involved in the financial planning sessions?
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.
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.
We can then turn our focus to 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 plan a retirement income strategy that will provide you with the most benefit - such as minimizing taxes.
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.
There's no hard limit to how many financial planning sessions you have access to.
What is the Medcan Comprehensive Health Plan?
Medcan's Comprehensive Health Plan helps you optimize your health with a range of services, including an annual health assessment, year-round care membership, and genetic counselling.
Annual health assessment
Medcan's annual health assessment is designed to give you a comprehensive picture of your health now, and identifies health risks you may face in the future. It's a head-to-toe evaluation completed in a single day.
Diagnostic testing & same day results
Receive up to 15 diagnostic tests customized to your current health needs. You'll get the results the same day and review them with your Medcan physician. They'll help you understand the results, discuss how your health could be improved, and set up an action plan.
Same-day or next-day appointments
Book an appointment for your everyday health concerns from anywhere in Canada. Medcan will provide you a same-day or next-day appointment, either in-person or by video, Monday to Saturday.
Travel health support
With Medcan, you have medical coverage - at home and abroad.
Genetics & genetic counselling
Get insights into your health now - and in the future, through a series of genetic tests and guidance from a team of genetic counsellors.
Generation members get 50% off the regular price of Medcan's Comprehensive Health Plan bundle. The plan normally costs $4,705 (that price is subject to change). As a Generation plan member, you'll save $2,353. You can pay the reminder of the cost at the time of your appointment.
When you qualify for Generation, you will receive an email with a link to signup on Medcan's website. It should arrive within 3 days of your deposits reaching $500k. If you are a Wealthsimple Generation client and do not believe you've received your Medcan sign up email, please ask our team for assistance.
- Your Comprehensive Care Plan discount can't be shared or transferred to another person.
- Medcan offers services outside of their Comprehensive Health Plan bundle. The Wealthsimple Generation discount does not apply to these services.