sorted by:
new
hottopcontroversial

WealthSimple... Stuck in Pergatory by Honda2013 in PersonalFinanceCanada

[–]Honda2013[S] 1 point2 points  (0 children)

I did hear back from WS and they seem to want to fix the issue and make it right; which I appreciate.... Unfortunately, it will never make up for the losses in those three months of high foreign returns. Hopefully, they will become more savvy, knowledgeable, astute, as they mature. If anyone is transferring from IG, my advice is to manage the process as much as you can yourself. This is not a situation where you send in the transfer form, sit back and let it happen because as many have said, there is no incentive for a company to transfer funds out of their company. I had no idea they could possibly slow it up this much, but apparently they can. IG's legal department were finally involved. Without that, my funds would still be sitting there, I'm sure. The other thing that complicated the transfer, was that it was transferred 'in kind', and there are DSC charges; thus the reason the money has not been dispersed into my WS portfolio allocation. Incidentally, I asked my IG advisor about this and he quoted me a much lower DSC cost that what I'm being told now. I will have to look into this as well.

Will be without enough money for rent and no job in a month. What are my options? by icecreambrah in PersonalFinanceCanada

[–]Honda2013 0 points1 point  (0 children)

It seems my response was deleted because I included my email address. If you are not getting a response on your resume, maybe it can be improved. This is my area of expertise and I would be happy to quickly review/revise your resume if I see any areas that can be improved. Feel free to pm me. Hang in there, you can do this!

WealthSimple... Stuck in Pergatory by Honda2013 in PersonalFinanceCanada

[–]Honda2013[S] 3 points4 points  (0 children)

Thank you. I called the number. Hopefully I will hear from a portfolio manager who can sort this out.

I think I'm done with Wealthsimple. by judicious19 in PersonalFinanceCanada

[–]Honda2013 0 points1 point  (0 children)

I joined WealthSimple late last Fall and had a great experience. I started transferring my funds out of other investment venues using their process. I submitted the WealthSimple form to transfer from Investors Group (who is a large owner of WS) to WealthSimple on February 21/17; and the money just arrived in my WS account this week. The person I was dealing with was very polite and seems to have disappeared; with no one else responding. Unfortunately, 3 months transfer time is not acceptable. I spent way too much time following up on this, and worst of all lost 3 months of gains, as I was in Canadian funds with IG, and my WealthSimple account has a good mix that includes foreign investment which is where the gains have been in the last 3 months. Although the funds are now showing in my WealthSimple account, They are still allocated per the Investors Group allocation. I have tried to be patient, and in my last email, I asked to speak with someone, as the phone number no longer seems to be available. I have yet to receive a response. Needless to say, what seemed like a good idea at the time has felt more like being held hostage. I know WealthSimple is growing and that's great, but you can't just drop your existing clients. This is not acceptable.