Getting assets managed for free means that you will pay no Wealthsimple fees for a given period of time for the amount detailed.
For example, imagine your portfolio is worth £11,000 and you have referred a friend meaning that you pay no Wealthsimple fees for the first £5,000 worth of investments for a year. This would mean that for the first twelve months, you will pay:
- No Wealthsimple fees on the first £5,000 worth of investments.
- A fee of 0.7% per annum on the remaining £6,000 worth of assets.
Please note that even when you have earned Wealthsimple credit, you will always pay a fee of around 0.2% per year for the underlying funds within your Wealthsimple portfolio (as this is paid to each investment manager of the funds within the portfolio)!