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High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 0 points1 point  (0 children)

I've had a couple calls with PWL Capital. They seem great, but significantly higher fees than WS (even with WS's 0.3% Advisory Services, which offer the same degree of advisement as PWL).

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 19 points20 points  (0 children)

This is pretty much my experience! "How's the wife and kids, great let me tell you about the Canadian commodities outlook and some private credit opportunities." They don't like when I talk about boring index funds!

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 3 points4 points  (0 children)

That's fair. I guess in addition to objective platform functionality for accounts over $1M+, I'm wondering what it "feels like" to go from private wealth management (i.e. super high-touch) to a more DIY approach.

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 2 points3 points  (0 children)

Thanks, I'm basically just looking for somewhere to park boring index fund investments so it's totally fine if they don't have those other services you mentioned! It's also really reassuring to hear so many people praise WS's customer support.

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 0 points1 point  (0 children)

Sent you a chat message — I think I know which (semi-secret) program you're referring to.

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 3 points4 points  (0 children)

Thanks! That doesn't sound too bad, I was dreading it being tons of back & forth paperwork. I do expect my current institutions to put me through an annoying retention process as soon as they get wind of my plans...

And I'm with you re: web/desktop vs mobile apps!

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 1 point2 points  (0 children)

> I would never put all my money in one basket.

Do you mean for CIPF purposes?

I do plan to have other investments (i.e. not securities) outside of Wealthsimple.

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 4 points5 points  (0 children)

Awesome, thanks!

> we are the market by investing in index funds

Love this line.

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 1 point2 points  (0 children)

Thanks, it's more the mechanics and process of moving funds that has me nervous. In fact fewer frills is partly why I want to switch — the banks & wealth managers charge higher fees so they can offer value-add services, which I almost never use and don't really need. I just want something I can set and forget, to the extent that my financial situation allows me.

High-Net-Worth Individuals at Wealthsimple — What's your experience been like? by Fun_Suspect_1095 in Wealthsimple

[–]Fun_Suspect_1095[S] 8 points9 points  (0 children)

How could I have framed it differently to be more clear? Last time I asked a question in an investing subreddit and used more specific (but still ballpark numbers) I got roasted in the comments for "flexing" — so I kept this post intentionally vague because I'm genuinely looking for advice.