Investing · Robo-advisor review
Wealthsimple Managed Investing review
The robo that built an empire: $0 minimum, the only halal portfolios that matter, and tier perks that get genuinely good at $100k — at a fee the empire lets it charge.
Best for: Beginners starting from zero, halal investors, and consolidators who’ll cross the $100k tier line
Pros
- No minimum — invested from the first dollar
- Canada’s main halal portfolios, plus SRI options
- Tax-loss harvesting and asset location at the $100k/$500k tiers
- Full registered lineup including RRIF, LIRA and LIF; CIRO dealer, CIPF member
- 1% transfer match on $25,000+ (to Sep 15, 2026)
Cons
- 0.5% fee (0.4% at $100k) — double Questwealth at every tier that matters
- Underlying ETF MERs aren’t published — the all-in cost isn’t public
- Advice is sessions-and-tiers, not a dedicated advisor
Who Wealthsimple Managed is
This is where Wealthsimple started — the robo that grew into the everything-app. The managed arm now sits inside an ecosystem of chequing, cards, mortgages and tax software, all run by a CIRO dealer and CIPF member with over $100 billion in assets.
Its pricing tells you the strategy: 0.5% at Core, 0.4% at Premium ($100k), 0.2%–0.4% at Generation ($500k+) — fees that reward bringing everything, because the tiers count your combined assets across the whole platform.
The transparency gap
Our one real criticism: Wealthsimple doesn’t publish the MERs of the ETFs inside its managed portfolios on its pricing pages — so unlike Questwealth (0.17%–0.22%, on the page), the true all-in cost isn’t publicly knowable. It’s likely modest, but "likely" isn’t a number, and for a YMYL decision we weight what’s published.
What it uniquely offers: a $0 minimum (literally invested from a dollar), halal portfolios built on a Shariah-screened index — the main game in Canada for that mandate — and tax-loss harvesting from the Premium tier, which can claw back real after-tax value in non-registered accounts.
For retirees
The lineup is complete (RRIF, LIRA, LIF included) and the consolidator math is real: a retiree bringing $100k+ gets the 0.4% fee, free USD accounts, 1.75%+ on chequing cash and tax-loss harvesting — plus the 1% transfer match (to September 15, 2026) as a signing bonus, paid over 24 months. Against Justwealth you trade the named advisor and income portfolios for the ecosystem; against Questwealth you pay double for polish and perks.
Frequently asked questions
What does Wealthsimple Managed Investing cost, all-in?
Management fee: 0.5% (Core), 0.4% at $100k, 0.2%–0.4% at $500k+. Underneath: Underlying ETF costs not published on its pricing pages. Minimum: $0 — invested from the first dollar. Figures verified at the provider's own pages on June 10, 2026 — see how the all-in cost ranks on our Best robo-advisors comparison, and what fee differences compound into with the MER calculator.
Which accounts does Wealthsimple Managed Investing support? Can it hold a RRIF?
TFSA, RRSP, RRIF, FHSA, RESP, LIRA, LIF. Yes — RRIF support means the portfolio can convert at 71 and stay managed, with no forced transfer. See the RRIF minimum calculator for the drawdown schedule.
Is my money safe at Wealthsimple Managed Investing?
Wealthsimple is a CIRO investment dealer and CIPF member. CIPF covers up to $1M per account-category group against the firm failing — never against markets falling. For cash deposits (a different regime), see the CDIC coverage planner.
The bottom line
The best on-ramp in Canadian investing and the best consolidation play — with a fee and a transparency gap that the spreadsheet-minded will rightly question. Starting from zero or investing halal: pick it. Optimizing pure cost: Questwealth. See the full comparison.
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This review is for educational purposes only and is not investment advice. Commissions, FX rates, account fees and offers shown were verified at the broker's own published pricing on June 10, 2026 and change without notice. Our editorial rating reflects costs, account lineup, currency handling and service — it is never paid for. CIPF protects against member-firm insolvency, never market losses. Confirm current terms on the broker's site before opening an account. See our methodology.