Toronto-based robo-advisor Wealthsimple Financial Inc. has launched a premium program to appeal to mass affluent investors.
“Wealthsimple Black” will provide clients with $100,000 or more invested in the robo-advisor with a slightly discounted management fee of 0.4%, as opposed to the standard 0.5%, and access to tax-efficient funds and tax-loss harvesting. Investors can also work with an experienced portfolio manager to produce a goals-based financial plan.
In addition, the program offers a perk for travellers in the form of priority pass access to more than 1,000 airline lounges around the world for the Wealthsimple client and a guest.
The robo-advisor will retain its “basic” program for clients with less than $100,000 in invested assets but notes that the standard features are still available to Wealthsimple Black clients. These features include automatic portfolio rebalancing and dividend reinvestment as well as the first $5,000 invested managed for free.
“At Wealthsimple, we’re constantly evolving to meet the needs of our clients, and as their savings grow we’re growing with them,” says Michael Katchen, founder and CEO of Wealthsimple, in a statement. “Our mission is to provide the best service and financial advice to all investors, no matter how far along they are toward reaching their financial goals.”
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