In this article:
Overview
You can use the Net Worth feature to track both your personal and household net worth in one place. To see a complete picture of your finances, you can link external accounts or add accounts manually. You can also create a household to track your household net worth.
For more information, please see our article on how to create a Wealthsimple household.
Select account visibility
To select which accounts you want to be visible in the personal net worth page, follow these steps:
- Log in to the Wealthsimple app.
- From the Home tab, tap Net Worth.
- Tap the Settings (gear) icon in the top right corner.
- Tap Account visibility.
- Select the accounts you want to see in your personal net worth view.
- Tap Save.
- Log in to your Wealthsimple profile.
- Select the Net Worth tab at the top of the page.
- Select the Settings (gear) icon in the top right corner.
- Select Account visibility.
- Select the accounts you want to see in your personal net worth view.
- Select Save.
Link an external account in net worth
Linking your external accounts allows you to automatically pull balances for investments and bank accounts into your net worth view.
To link an external account, follow these steps:
- Log in to the Wealthsimple app.
- From the Home tab, navigate to the Net worth tab.
- Tap Link new account.
- Search for your bank or provider and select it.
- Tap Next.
- Log in with your institution credentials.
- Once connected, choose the accounts you'd like to link.
- Add a nickname for the linked accounts.
- Set visibility to Household (If you’re in a household).
- Tap Done.
- Log in to your Wealthsimple profile.
- Navigate to the Net worth tab.
- Select Link new account.
- Search for your bank or provider and select it.
- Select Next.
- Log in with your institution credentials.
- Once connected, choose the accounts you'd like to link.
- Add a nickname for the linked accounts.
- Set visibility to Household (If you’re in a household).
- Select Done.
Add an account manually in net worth
If you have assets or debts that can’t be linked automatically—such as real estate, vehicles, or specific loans—you can add them manually. This also applies if you can’t find your financial institution or account.
To add an account manually, follow these steps:
- Log in to the Wealthsimple app.
- From the Home tab, navigate to the Net worth tab.
- Tap Add manually.
- Select whether you'd like to track an Asset or a Liability (such as a mortgage or loan).
- Enter the required details, including the account name, type, and current value.
- Tap Next.
- Set visibility to Household (if you’re in a household).
- Tap Done.
- Log in to your Wealthsimple profile.
- Navigate to the Net worth tab.
- Select Add manually.
- Select whether you'd like to track an Asset or a Liability (such as a mortgage or loan).
- Enter the required details, including the account name, type, and current value.
- Select Next.
- Set visibility to Household (if you’re in a household).
- Select Done.
Manage your accounts
You can update your manual account balances or change how your accounts are displayed at any time.
Refresh external account balances
Since open banking isn't yet supported in Canada, external account balances may not update automatically. You can update them manually to keep your net worth accurate.
To refresh your balance, follow these steps:
- Log in to the Wealthsimple app.
- On the Net worth tab, select Refresh balances.
- Tap the refresh icon next to the institution you want to update.
- Tap Refresh accounts.
- Log in with your institution credentials if prompted.
- After connecting, balances will update automatically.
- Tap Next.
- Tap Done.
- Log in to your Wealthsimple profile.
- On the Net worth tab, click Refresh balances.
- Select the refresh icon next to the institution you want to update.
- Select Refresh accounts.
- Log in with your institution credentials if prompted.
- After connecting, balances will update automatically.
- Select Next.
- Select Done.
Edit or remove a manual account
To edit or remove a manual account, follow these steps:
- Log in to the Wealthsimple app.
- On the Net worth tab, tap the manual account you want to update.
- To update balance, tap Update balance, update the info, and tap Save.
- To edit details, tap Edit details, update the info, and tap Save.
- To remove account, tap Delete in the top right corner.
- Tap Remove.
- Log in to your Wealthsimple profile.
- On the Net worth tab, select the manual account you want to update.
- To update balance, select Update balance, update the info, and tap Save.
- To edit details, select Edit details, update the info, and tap Save.
- To remove account, select Delete in the top right corner.
- Select Remove.
Frequently asked questions
How can I change account visibility?
You can update whether an account is visible in your personal or household view by selecting the settings icon at the top of the Net worth tab.
Is there a limit to how many accounts I can link?
No, there's no limit to the number of institutions or accounts you can link to your net worth.
Can two people in a household link the same account?
No. An account can only be linked once. If one member of a household has already added an account, it can't be added again by another member.
Will I be charged any fees for linking an account?
No, linking external accounts to Wealthsimple doesn't result in any fees.
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