In this article:
Overview
Wealthsimple offers three client statuses: Core, Premium, and Generation.
To upgrade to a new status, you must meet the minimum threshold for either your net deposits or your total assets across your Wealthsimple accounts.
For more information on Premium and Generation statuses, check out our overview articles:
Status eligibility requirements
| Core | Premium | Generation |
|---|---|---|
| None | Minimum $100,000 in net deposits or $100,000 in total assets across your Wealthsimple accounts† | Minimum $500,000 in net deposits or $500,000 in total assets across your Wealthsimple accounts† |
† Excludes portfolio line of credit balances.
Calculating net deposits
We calculate your net deposits by adding up the total amount of money you deposit or transfer into all of your Wealthsimple accounts (including managed investing, trading, crypto, and chequing accounts). Keep in mind that recent deposits can take up to 72 hours to show up in your status progress.
Your net deposits won't decrease if the value of your portfolio decreases due to market fluctuations. However, your net deposits will decrease when:
- You withdraw or transfer funds out of your accounts
- You make a foreign exchange (FX) conversion and are charged an FX fee
How a portfolio line of credit affects your status
Borrowing through a portfolio line of credit doesn't affect your status. Amounts you borrow are excluded from both your net deposits and your total assets when we calculate your status. We only count the assets you own.
What's included in each status
Stocks and ETFs
| Core | Premium | Generation | |
|---|---|---|---|
| Commissions | $0 | $0 | $0 |
| USD accounts | $10/month | Included (must opt in) | Included (must opt in) |
| Instant deposits | Up to $50,000 | Up to $250,000 | Up to $250,000 |
| Options pricing | $0 USD | $0 USD | $0 USD |
Managed investing
| Core | Premium | Generation | |
|---|---|---|---|
| Management fees | 0.5% | 0.4% | Starting at 0.4%, as low as 0.2% |
| Access to the Private Market Fund | Yes | Yes | Yes |
| Tax-loss harvesting | No | Yes | Yes |
Crypto
| Core | Premium | Generation | |
|---|---|---|---|
| Trading fees | 2% | 1% | 0.5% |
| Staking fees | 30% | 30% | 15% |
Spend & Save
| Core | Premium | Generation | |
|---|---|---|---|
| Chequing account interest | 1.25% | 1.75% | 2.25% |
| Chequing account direct deposit boost | 0.5% | 0.5% | N/A |
Account management and support
| Core | Premium | Generation | |
|---|---|---|---|
| 24/7 Help Centre and chatbot access, plus human support | Yes | Yes | Yes |
| Priority email support | No | Yes | Yes |
| Priority phone support | No | Yes | Yes |
Perks
| Core | Premium | Generation | |
|---|---|---|---|
| Partner milestone rewards | 0 | 0–3 | 3 |
| 20% off Willful | No | Yes | Yes |
| Medcan Year-Round Care (Ontario only) | No | 30% off | 40% off |
| Medcan Annual Health Assessment (Ontario only) | No | 20% off | 30% off |
| Medcan Dedicated Care (Ontario only) | No | 15% off | 15% off |
| Medcan M Care (Ontario only) | No | 15% off | 15% off |
Frequently asked questions
How long does it take to process my status upgrade?
We automatically apply upgrades once you meet the threshold requirement for a status. Upgrades take at least one business day to process. We'll notify you once your upgrade is complete, and you can start accessing your new benefits.
Comments
0 comments
Article is closed for comments.