For several years now, Wealthsimple has been competing with the major Canadian financial institutions with a diversified range of low-cost financial products and services. With over 3 million users and more than $50 billion in assets under management, Wealthsimple is constantly innovating! It recently launched joint and multiple accounts, in addition to announcing two weeks ago that its Cash accounts were now protected up to $1 million.
Just a few days ago, Wealthsimple launched a rewards program, including new benefits for Premium and Generation Wealthsimple accounts. In this article, we explore these new lifestyle benefits: travel, wellness and culture.
Before exploring the new rewards for Wealthsimple Premium and Generation accounts, are you familiar with the different plans? Wealthsimple offers 3 different plans: Core, Premium and Generation.
To move up to the next level, you need to reach the required minimum threshold of net deposits or total assets across all your Wealthsimple accounts. This includes Managed investing, Self-directed investing, Crypto and Cash accounts.
Here are the eligibility requirements for each plan:
Each Wealthsimple account plan has its own advantages, for example:
To find out more about the benefits of each product and level, consult this guide:
For several years now, Wealthsimple customers with assets of $100,000 or more have had access to Premium services. These include reduced management fees, higher interest rates, financial planning services and more.
That said, Wealthsimple keeps innovating! A few months ago, it launched joint and multiple accounts. Then, a few weeks ago, it announced that deposits in its Cash accounts were now protected up to $1 million. That’s 10 times CDIC‘s coverage. That’s something!
Today, Wealthsimple continues with momentum. It has just announced a rewards program with new benefits for Premium and Generation accounts reaching $200,000 or more in assets. Each year, Premium and Generation customers can now choose from a number of exclusive lifestyle rewards: travel, wellness, and culture.
Here’s the list of new benefits for Premium and Generation accounts.
The more assets you have, the more rewards you earn.
In short, Wealthsimple has been competing with the major Canadian financial institutions for several years now. Wealthsimple continues to innovate, most recently with Cash accounts, which are now protected up to $1 million, 10 times CDIC’s coverage. Then, just a few days ago, with the launch of a lifestyle rewards program, including new benefits for Premium and Generation accounts.
Wealthsimple offers 3 plans for its customers: Core, Premium (minimum $100,000) and Generation (minimum $500,000). Each Wealthsimple account level has its own advantages, such as lower management fees and higher interest rates on savings.
The rewards program offers new benefits for Premium and Generation accounts. These exclusive rewards are lifestyle-related, such as travel (DragonPass, Uber One and Gigs), wellness (Strava Premium, Headspace, Maple and Willful) and culture (The Globe and Mail, DINR and Peggy). The more assets you have, the more rewards you earn.
Once you reach $200,000 in assets, you can claim your reward directly in the Wealthsimple application. Then you get another reward for every additional $100,000 in assets (until you reach $400,000). These rewards are in addition to Premium and Generation privileges.
If you withdraw money from your account and the balance of all your Wealthsimple accounts falls below $100,000, you lose your Premium status and the associated benefits.
Savings are here:
