Why does Wealthsimple make trades on my behalf?

Our primary duty is to always act in the best interest of our clients. At Wealthsimple, we're known as a discretionary manager.

That means we can execute trades on your behalf without asking you every time. It means we can optimize your portfolio without you having to execute trades, and it allows us to get the best pricing — because while some brokerages wait for clients to approve trades, prices change.

All Wealthsimple clients sign a discretionary management agreement when they open new accounts with us. This agreement gives us the right to buy and sell securities on behalf of clients and make changes to portfolios that adhere to our primary duty as a portfolio manager.