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  1. #1
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    Default WealthSimple Black

    Has anybody upgraded their WealthSimple account to their new Black portfolio version? What has your experience been?

    https://www.wealthsimple.com/en-ca/black

    I setup an account with them last year as an experiment to see if it was any good. Generally I look for at least 6% or better with anything that has risk involved. They were able to return 7% on my portfolio overall, so while it didn't blow me away it did meet the expectations I was looking for with a managed account. Similar test accounts I did with Questrades "Portfolio IQ" and Tangerines "Streetwise Fund" both failed by comparison.

    What I was most interested in is this little blurb:
    "Get a financial planning session with one of our expert advisers to help you meet your financial goals."
    There are other mentions of access to "One-on-one financial coaching", but it never really goes into much detail about what that actually entails.

    I am just wondering if this is a marketing gimmick, or a real worthwhile feature.

    I haven't come across anybody who has a Black account yet, so I am hoping to find someone that has some first hand experience and can comment on how it is working out so far.
    Last edited by Sugarphreak; 08-21-2018 at 09:47 PM.
    Quote Originally Posted by flipstah View Post
    You can't score on shots you don't take.

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    Not sure how that works but I still like managing my own money.

    At what point should one pass it off and go robo style tho?

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    https://www.questrade.com/portfolio-...anced-investor


    Psst... Timing does actually matter.

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    Quote Originally Posted by max_boost View Post
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    Not sure how that works but I still like managing my own money.

    At what point should one pass it off and go robo style tho?
    I think it just depends on what best suits your lifestyle, and what kind of time you have to invest into it along with your risk tolerances.

    I try to diversify my assets into 5 areas:

    1) Active trading accounts - High Risk @ 15-30%
    2) High Interest Savings - Low Risk + Liquidity @ 1.50~2.30%
    3) GICs - Low Risk @ 3.20%
    4) Hard Assets - Varying Risk & Growth
    5) Managed Accounts - Moderate Risk @ 6%

    The way I divide it up though depends a lot on what inflation and market rates are doing, how much time I can spend actively researching and trading, and also what kind of risks I might be facing in real life. Unemployment/New Jobs, taking time to go to school, along with other life events usually have me re-balancing it a bit every year.

    Quote Originally Posted by suntan View Post
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    https://www.questrade.com/portfolio-...anced-investor

    Psst... Timing does actually matter.
    I tried the Portfolio IQ for over a year and it had poor returns, even negative returns consistently. Meanwhile I was able to still earn 10%+ with limited active trading during the same period... I wasn't impressed with it at all.
    Last edited by Sugarphreak; 08-22-2018 at 12:42 AM.
    Quote Originally Posted by flipstah View Post
    You can't score on shots you don't take.

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    Quote Originally Posted by Sugarphreak View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Has anybody upgraded their WealthSimple account to their new Black portfolio version? What has your experience been?

    https://www.wealthsimple.com/en-ca/black

    I setup an account with them last year as an experiment to see if it was any good. Generally I look for at least 6% or better with anything that has risk involved. They were able to return 7% on my portfolio overall, so while it didn't blow me away it did meet the expectations I was looking for with a managed account. Similar test accounts I did with Questrades "Portfolio IQ" and Tangerines "Streetwise Fund" both failed by comparison.

    What I was most interested in is this little blurb:


    There are other mentions of access to "One-on-one financial coaching", but it never really goes into much detail about what that actually entails.

    I am just wondering if this is a marketing gimmick, or a real worthwhile feature.

    I haven't come across anybody who has a Black account yet, so I am hoping to find someone that has some first hand experience and can comment on how it is working out so far.
    i've been with wealthsimple black since dec 2016 (risk category - 80% equities) and my portfolio is up ~18%. however i think that is a bit lucky because of the crazy bull market run since trump took office. i spoke to their financial advisor a couple times, they were very responsive to my queries and friendly during our chats, but in the end, they said just leave the money in the account and forget about it... revisit in 30 yrs or something. because it's robo investing, everything is done automatically so there's not much you as an investor can do, other than specify your risk thresholds. and every month they send you email updates of your account so you generally have an idea how things are performing.

    what i have found really useful is the airport priority lounge pass that is a perk with the black membership. it allows you and a guest for free plus a child under 2 years old. i know that other people have this through their credit card plans etc but we don't and this has come in quite handy during our travels, especially now with our 10 month old girl.

    i stopped contributing to my WS account when i reached the black level. i believe it's important to diversify so now i've locked into other avenues of investment. but it has worked well for me thus far and hope continues to do so in the future.

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    I don't think most people divilersify platforms. They aim for asset classes, which is easy within a single platform.

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    been strongly considering this. I currently do ETFs and pay less than 0.1% management fees but i find myself getting lazier and not wanting to rebalance, and having that easy access to large chunks of money sometimes tempts me to sway from my strategy and invest in weed stocks, or other individual stocks, etc. I'm tempted to do this because it's a 'set it and forget it' but still aligns with a proper indexing strategy.

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    I know what you mean about being risk adverse with more cash. I've definitely been picking safer stocks for a while now just because my account has grown so much. If I reduce my active trading portfolio I will probably start feeling more comfortable to go after the larger gains again.

    Quote Originally Posted by kJUMP View Post
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    i've been with wealthsimple black since dec 2016 (risk category - 80% equities) and my portfolio is up ~18%. however i think that is a bit lucky because of the crazy bull market run since trump took office. i spoke to their financial advisor a couple times, they were very responsive to my queries and friendly during our chats, but in the end, they said just leave the money in the account and forget about it... revisit in 30 yrs or something. because it's robo investing, everything is done automatically so there's not much you as an investor can do, other than specify your risk thresholds. and every month they send you email updates of your account so you generally have an idea how things are performing.

    what i have found really useful is the airport priority lounge pass that is a perk with the black membership. it allows you and a guest for free plus a child under 2 years old. i know that other people have this through their credit card plans etc but we don't and this has come in quite handy during our travels, especially now with our 10 month old girl.

    i stopped contributing to my WS account when i reached the black level. i believe it's important to diversify so now i've locked into other avenues of investment. but it has worked well for me thus far and hope continues to do so in the future.
    Thanks for sharing your experience

    I think I will go the same route, just put enough in to reach Black and then leave it alone after that. I wish I traveled enough to make use of the airport lounge pass, that is a pretty decent perk.
    Last edited by Sugarphreak; 08-22-2018 at 06:15 PM.
    Quote Originally Posted by flipstah View Post
    You can't score on shots you don't take.

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    QUICK BUMP:
    So I did end up going this route after all. The set-it-and-forget-it aspect coupled with the perks of the Black account won me over in the end. I basically just topped up to the Black minimum which still leaves me a decent chunk left to get my stock trading fix in.

    Big thanks to people who responded so quickly, the information provided was super helpful!
    Quote Originally Posted by flipstah View Post
    You can't score on shots you don't take.

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    Quote Originally Posted by Sugarphreak View Post
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    QUICK BUMP:
    So I did end up going this route after all. The set-it-and-forget-it aspect coupled with the perks of the Black account won me over in the end. I basically just topped up to the Black minimum which still leaves me a decent chunk left to get my stock trading fix in.

    Big thanks to people who responded so quickly, the information provided was super helpful!
    nice man, hope it works out for you

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    Very interesting. Does it only count for certain accounts within Wealth Simple or is it good for anything? For example if I move $100k into an RRSP would I still qualify? I really like the robo investing model and have it set up for my kid's RESP, and I am not too happy with the current financial institution handling my RRSP funds so I was thinking of moving them anyways, this might be the nudge I need though
    Originally posted by rage2
    ...Last thing I want is someone reading my posts and losing their cock over it...
    Originally posted by Sugarphreak
    Meh, they all look like Jackie Chan to me
    Originally posted by ExtraSlow
    You dudes have some squeaky clean assholes. I commend you.

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    Quote Originally Posted by schurchill39 View Post
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    Very interesting. Does it only count for certain accounts within Wealth Simple or is it good for anything? For example if I move $100k into an RRSP would I still qualify? I really like the robo investing model and have it set up for my kid's RESP, and I am not too happy with the current financial institution handling my RRSP funds so I was thinking of moving them anyways, this might be the nudge I need though
    It looks like it does qualify as their website has a FAQ on transferring RRSP to Wealthsimple.

    Anyone know what their employer's retirement plan charges that it makes it worthwhile to transfer money into Wealthsimple instead? I know fees will obviously differ between company benefits.

    Everyone always usually say employer plans have lower fees than the retail equivalent, but wonder how this compares to Wealthsimple.
    Last edited by Disoblige; 08-28-2018 at 07:12 PM.

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    Quote Originally Posted by Disoblige View Post
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    It looks like it does qualify as their website has a FAQ on transferring RRSP to Wealthsimple.

    Anyone know what their employer's retirement plan charges that it makes it worthwhile to transfer money into Wealthsimple instead? I know fees will obviously differ between company benefits.

    Everyone always usually say employer plans have lower fees than the retail equivalent, but wonder how this compares to Wealthsimple.
    In my particular case my employment status is changing where I will no longer have access to a lower fee employer sponsored one and the "retail rate" they are offering isn't very attractive. My current employer sponsored rate is greater than 1% (I want to say mine is 1.8% but I can't seem to find it on the website). Wealthsimple is 0.5% for the first $99,999 and then 0.4% from $100,000 to $250,000. You're not going to make big returns like you potentially could with an actively managed fund but for a couch potato approach I've been super happy with what I've seen from my sons RESP
    Originally posted by rage2
    ...Last thing I want is someone reading my posts and losing their cock over it...
    Originally posted by Sugarphreak
    Meh, they all look like Jackie Chan to me
    Originally posted by ExtraSlow
    You dudes have some squeaky clean assholes. I commend you.

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    Oh FFS

    So they worded it you must deposit 100K to become black level... not have 100K+ in your account

    I need to make another deposit now... fucks sake
    Quote Originally Posted by flipstah View Post
    You can't score on shots you don't take.

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    Quote Originally Posted by Sugarphreak View Post
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    Oh FFS

    So they worded it you must deposit 100K to become black level... not have 100K+ in your account

    I need to make another deposit now... fucks sake
    lol how many stacks of 100k do you have lying around?

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    Quote Originally Posted by max_boost View Post
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    lol how many stacks of 100k do you have lying around?


    - - - Updated - - -

    Quote Originally Posted by Sugarphreak View Post
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    Oh FFS

    So they worded it you must deposit 100K to become black level... not have 100K+ in your account

    I need to make another deposit now... fucks sake
    ahhh the life of an investor...

    (same thing happened to me)

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    Kind of a pain, haha

    Quote Originally Posted by max_boost View Post
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    lol how many stacks of 100k do you have lying around?
    All I need is one to cause trouble on Beyond, lol
    Quote Originally Posted by flipstah View Post
    You can't score on shots you don't take.

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    Next time I'm in Vancouver, I'm expecting to be invited to a big party on Sugarphreak's yacht.

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    Quote Originally Posted by Buster View Post
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    Next time I'm in Vancouver, I'm expecting to be invited to a big party on Sugarphreak's yacht.
    As long as you don't mind that it is made of plastic, or that it is only a 5' footer... and a pool float, haha



    *girl and pool may not be exactly as shown*
    Quote Originally Posted by flipstah View Post
    You can't score on shots you don't take.

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    Quote Originally Posted by Sugarphreak View Post
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    Kind of a pain, haha



    All I need is one to cause trouble on Beyond, lol
    From now on

    A stack = $100k lol

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