Absolutely! We are authorised by the Financial Conduct Authority (FCA) and you can check details of our authorisation and the scope of our permissions here. As an authorised entity we are covered by the Financial Services Compensation Scheme (FSCS) so your cash is protected up to the amount of £85,000 and your investments - up to £50,000.
Moreover, when you invest with Wealthsimple, your assets are actually held by SEI Investments (Europe) Ltd., Wealthsimple’s UK custodial broker. In other words, SEI executes trades and is where your assets are held. SEI is a leading global custodian of assets looking after $468 billion of client assets, is regulated by the FCA and is also covered by the FSCS. In short, your savings at Wealthsimple are just as safe as if you put them in a high-street bank.