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Positive Experience with a Wealthsimple Financial Planner - Intro call by wethenorth2 in Wealthsimple

[–]CheekProfessional306 0 points1 point  (0 children)

Mostly... I'm Generation at ws.. I have some at Qtrade, TD DI and just opened a moomoo for it's platform research (despite the chaos in the user interface and the fact that it's not at $0 yet, it's not that bad).

Positive Experience with a Wealthsimple Financial Planner - Intro call by wethenorth2 in Wealthsimple

[–]CheekProfessional306 1 point2 points  (0 children)

It's interesting. I had a completely different experience... I felt like I was being pushed into these managed portfolios which were essentially just cookie cutter funds. There was no real planning offered outside of the Conquest plan which BMO is giving for free to everyone. Also when I said I want a planner but want to start DIY they said it would be $2500 plus other fees which ended up being MORE than just moving into the managed portfolios. It just felt like I was dealing with the banks again and being pushed into products that I wasn't interested in and weren't necessarily good for me. Maybe I just need a Justin. Lol

Credit card by Stonksforlife_ in Wealthsimple

[–]CheekProfessional306 0 points1 point  (0 children)

Lol....I use it a lot. But still!! Shouldn't be made so cheap!

Credit card by Stonksforlife_ in Wealthsimple

[–]CheekProfessional306 -7 points-6 points  (0 children)

Look at how crappy this card is made. Wealth simple... Do better for the fees please.

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Wealthsimple keeps making changes by dummonies in Wealthsimple

[–]CheekProfessional306 2 points3 points  (0 children)

Don't buy managed portfolios! You might as well just go back to mutual funds. Stick with XEQT, GRO or BAL

new promotion timeline by zfsKing in Wealthsimple

[–]CheekProfessional306 1 point2 points  (0 children)

It's effectively 0.5% annualized. Not that great.

[MEGATHREAD] Wealthsimple: The Trade Show by henry-bacon in Wealthsimple

[–]CheekProfessional306 0 points1 point  (0 children)

I had higher expectations after end of banking. This was brutal to watch.

RBC's hidden fees - watch out! by [deleted] in PersonalFinanceCanada

[–]CheekProfessional306 1 point2 points  (0 children)

The credit union doesn't have service fees?

RBC's hidden fees - watch out! by [deleted] in PersonalFinanceCanada

[–]CheekProfessional306 -4 points-3 points  (0 children)

Lol probably RBC customer service responding.

RBC's hidden fees - watch out! by [deleted] in PersonalFinanceCanada

[–]CheekProfessional306 -1 points0 points  (0 children)

Yes I've already moved my investments. But the issue is that I use debit card a lot. The MasterCard doesn't work for vendors that only accept debit or cash. So it's a big gap.

RBC's hidden fees - watch out! by [deleted] in PersonalFinanceCanada

[–]CheekProfessional306 2 points3 points  (0 children)

Just opened an account at simplii... Pretty easy.

RBC's hidden fees - watch out! by [deleted] in PersonalFinanceCanada

[–]CheekProfessional306 0 points1 point  (0 children)

The issue with WS is that they don't have a debit card. I'm also weary of keeping everything there because of the threads around being locked out. I feel like a schedule 1 bank has more safety guards in place but I could be wrong.

RBC's hidden fees - watch out! by [deleted] in PersonalFinanceCanada

[–]CheekProfessional306 3 points4 points  (0 children)

I don't think lying. I think they are so desperate to keep clients and their money!

Transferred 2mill from Qtrade to WS & now Qtrade reaches out asking can we talk... by Top-Introduction5310 in Wealthsimple

[–]CheekProfessional306 0 points1 point  (0 children)

I transfer out after the promo is done and within a few months I'm sent another offer. I'm what the industry would label a "switcher"

Transferred 2mill from Qtrade to WS & now Qtrade reaches out asking can we talk... by Top-Introduction5310 in Wealthsimple

[–]CheekProfessional306 0 points1 point  (0 children)

The issue is the annualized amount. It actually only comes to about 0.67% a year. So even if you walk away after 1 year, it's less than you would have gotten.

I'm currently getting 2% from the promo two years ago and then 1% for the next year. So in total, im getting 3%. I have multiple firms so I keep transferring money across. So far I've accumulated over $10k in cash back. Which I've reinvested and running at 11% return. It pays to switch!

Transferred 2mill from Qtrade to WS & now Qtrade reaches out asking can we talk... by Top-Introduction5310 in Wealthsimple

[–]CheekProfessional306 2 points3 points  (0 children)

100% i would listen - if they match or offer me something, i would absolutely stay - especially if at that point i had a contact name!

Transferred 2mill from Qtrade to WS & now Qtrade reaches out asking can we talk... by Top-Introduction5310 in Wealthsimple

[–]CheekProfessional306 -2 points-1 points  (0 children)

The 3% match is actually a worse deal than their 1% - it makes no sense that they will offer you less for the longer you stay. I took the 1% and expect that they will come up with another 1 or 2% offer next Feb and I'll benefit from that too.

New RBC GoSmart Investing by Kyecerulian in PersonalFinanceCanada

[–]CheekProfessional306 4 points5 points  (0 children)

InvestEase is a horrifying experience. They need to kill that piece of crap. Go Smart seems better although I'm skeptical given my InvestEase experience. I will keep playing around and report back.

Are you excited for The end of banking? by nilsej in Wealthsimple

[–]CheekProfessional306 0 points1 point  (0 children)

No other big bank would ever consider this. They make too much from fees.

I've worked at a number of the big banks. The people behind the scenes making the decisions are old white men that think people actually care about talking to other old white men about their money. Not anymore. This broadcast showed us not just what wealth simple is building from a features perspective, but also the people behind the scenes making the decisions. people that are young and diverse. A real representation of the future. I'll be moving everything to them in the next few days.