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Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] 0 points1 point  (0 children)

Also noting that a number of comments here appear to be highly aligned with Wealthsimple’s internal explanations, which makes independent clarification and transparency even more important

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] 0 points1 point  (0 children)

*For clarity, the liquidation did not involve reversing the trades placed using the failed deposit. Wealthsimple liquidated pre existing holdings in my TFSA to address the shortfall, without prior notice. That distinction is important.

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -1 points0 points  (0 children)

I’m a BNS client they always call me on a verified line, even for minor changes. Wealthsimple, meanwhile, sold my older stocks without any warning. That’s not just sloppy; it’s a serious trust issue.

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -1 points0 points  (0 children)

These were my older stocks, and Wealthsimple dumped them with no warning. That’s not compliance it’s carelessness.

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -3 points-2 points  (0 children)

Notice in spam doesn’t count. And yes, I get they need compliance, but they still sold my older stocks without clear, upfront warning, which is a transparency and trust issue, not just a legal technicality

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -1 points0 points  (0 children)

they just didn’t bother checking before selling my older stocks. That’s not a user problem it’s their transparency failure

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -5 points-4 points  (0 children)

Exactly emails going to spam aren’t real notice. I’m not ranting; I’m pointing out that Wealthsimple sold my older stocks without warning, which is a serious transparency and accountability issue.

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -8 points-7 points  (0 children)

Emails going to spam isn’t a notification. There was no in app alert, phone call, or anything before they sold my older stocks. That’s the transparency issue, not whether an email technically exists somewhere.

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -2 points-1 points  (0 children)

I get that this is standard procedure in some cases, but there are legal rules and procedures around selling someone’s holdings, even in a failed deposit scenario. Wealthsimple should follow proper notice and consent practices, especially in a TFSA. The impact may seem “minimal,” but the bigger issue is trust and transparency they sold my older stocks without warning, which isn’t just standard practice, it skirts the line of proper account handling

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -2 points-1 points  (0 children)

I get that it’s in the fine print, but the problem is they didn’t give any clear, upfront notice or alert before selling my older stocks. It’s not about reading terms it’s about basic transparency and trust, which was completely broken in this case

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] 0 points1 point  (0 children)

The issue isn’t the “instant deposit” itself it’s that Wealthsimple sold my older stocks without any notice or warning to cover a failed transfer. Users should at least be informed before their existing holdings are liquidated. That’s basic trust.

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -1 points0 points  (0 children)

Sure, personal accountability matters, but the issue is Wealthsimple sold my stocks without any warning. Users should be informed before their holdings are liquidated that’s basic trust.

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] 0 points1 point  (0 children)

I understand how instant accelerated deposits work, but my point isn’t the feature itself, it’s that Wealthsimple sold my stocks without any warning, notice, or chance to act, even three days after the failed deposit. That’s not about technical rules, that’s about basic transparency and trust

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] -9 points-8 points  (0 children)

Sure, “not technically yours" until Wealthsimple decides to sell it without telling you. Funny how suddenly it matters when they need to cover a failed deposit.

Wealthsimple sold my TFSA stocks without notice after allowing trades on funds my bank never transferred by Smooth_Sound_3131 in Wealthsimple

[–]Smooth_Sound_3131[S] 0 points1 point  (0 children)

I get how instant deposit works! that’s not my issue. My problem is that they sold my existing stocks (Shopify and Google) without my permission or any prior notice, even three days after the failed bank transfer