Another fee to consider is the management fee of the passive funds in the portfolio. These are charged by the fund providers for the work they do to maintain the asset balance within the funds, their legal reporting requirements and so on.
It isn't charged by Wealthsimple and won't be deducted directly from your Wealthsimple account, it is factored into the price of the fund. These fund management fees are expected to be about around 0.2% annually. Because these funds are "passive" investments (they do not have expensive fund managers to support - "active" managers picking stocks) they can keep fees low. By keeping fees low this helps strengthen long term returns.
The only fee we charge on top of our management fee is a 0.2% fee on currency conversion in cases where we need to buy or sell different currencies in your account.
And just to be clear our fees include VAT already so you won't be charged that on top.