Overview

If you decide to move your group plan to a different service provider, Wealthsimple will help coordinate the group transfer of all funded, active accounts. We don't charge any termination or transfer fees for the plan sponsor or plan members.

To ensure a smooth transition, your written notice must include specific details regarding your final contributions.

Termination letter requirements

A valid termination letter to Wealthsimple must include:

• Employer's legal name
• Plan type(s) being terminated
• Clear termination and/or provider-change instructions
• Effective date of the new plan
• Last contribution date
• New provider contact details
• Transfer payment instructions
• Authorized signature

How to transfer your plan

Follow these steps to transfer your plan:

1. Review your agreement to confirm your required notice period (typically 60 days).
2. Draft a written notice of termination.
3. State the exact date of the last contribution remittance with Wealthsimple in your notice.
4. Send the notice to your Client Success Manager.
5. If you don't have a manager, email the notice to our support team.
6. Wealthsimple will coordinate the group transfer of all funded active accounts directly to your new service provider.