Understand your Trade account numbers shown when you transfer out of Wealthsimple

In this article:

Note: Direct Indexing in Trade accounts is rolling out to all clients in phases. If you don't have access yet, you'll get access soon.

Overview

If your Trade account includes Direct Indexing, it has two account numbers: one for the stocks and funds you manage yourself, and one for your index. This is expected. You'll need the right account number when you transfer your account to another institution.

Why your Trade account has two account numbers

Your index is held in a separate account behind the scenes. You see and use one Trade account, but it has two parts:

  • Self-directed: the stocks, ETFs, and cash you manage yourself.
  • Automated investing: the stocks in your index, which we manage for you.

Each part has its own account number, statement, and tax slip.

Find your account numbers

Follow the steps for the Wealthsimple app or Web to find the account numbers for your Trade account:

Wealthsimple app Web
  1. Log in to the Wealthsimple app
  2. Tap your Trade account
  3. Tap the Settings (gear) icon in the top-right corner
  4. Tap Account details
  5. Your account numbers are at the top of the screen
  1. Log in to your Wealthsimple profile on a laptop or computer
  2. Select the button with your first name's initial to open the profile menu
  3. Select Settings from the menu
  4. Select Accounts from the options
  5. Select your Trade account
  6. Your account numbers are at the top of the page under Account details

You'll see two account numbers, labelled Self-directed and Automated investing.

Tip: If you added your index recently, your first statement for it won't arrive until after its first month-end. Until then, Account details is the only place to find that account number.

Transfer your Trade account to another institution

When you request a transfer out, the receiving institution asks for your Wealthsimple account number. Which number to use depends on what you want to transfer:

  • Stocks, ETFs, and cash you manage yourself: use the Self-directed account number.
  • Your index: transfers out of your index aren't available yet.
Note: Every transfer out of a Trade account that includes Direct Indexing is reviewed by our team before it goes through, so it can take longer than a regular transfer. If you'd like to move the money in your index now, sell your index. The cash moves to the self-directed part of your account, and you can then transfer it out with the rest of your Trade account.

Frequently asked questions

Why do I have two account numbers for one Trade account?

Your index is held in a separate account behind the scenes. Each part has its own account number, but you manage both from your Trade account.

Do I have two accounts now?

No. You still have one Trade account. The second account number is for your index.

Which account number should I give the receiving institution?

Use the Self-directed account number to transfer the stocks, ETFs, and cash you manage yourself. Transfers out of your index aren't available yet.

Why is my transfer out taking longer than usual?

Transfers out of a Trade account that includes Direct Indexing are reviewed by our team before they go through. This can add time to your transfer.

Will I get separate statements and tax slips?

Yes. Your index has its own monthly statement and tax slip, in addition to the ones for the rest of your Trade account.

Related articles

Was this article helpful?

Have more questions? Submit a request

Comments

0 comments

Article is closed for comments.

Transfer a Wealthsimple account to another institution

Our team is here to help - just get in touch.

Customer Support Team