Questrade vs Wealthsimple? I know you are affiliated with Questrade as mentioned above but I have started with Wealth simple before I knew about Questrade. Is one really that different from the other?
Great question Monique... When WealthSimple first launched I was a really big fan; they embraced low-cost robo-portfolios that made investing simple, boring and profitable (for the investor.)
But as many robo-advisors have learned a low-cost portfolio is good for the investor but can be lousy business unless you are Vanguard with trillions of assets under management.
In recent years, they have pivoted pretty heavily into encouraging more active management, picking stocks and crypto--Which is a better business model, but likely won't serve the investor.
I use Questrade for my portfolio, because it's simple to buy a few index funds and let it ride. I don't know if it would be worth the hassle of transferring over. If you can build a diversified, low-cost portfolio on WealthSimple and resist the temptation to speculate on individual stocks and coins, you should be okay.
Questrade vs Wealthsimple? I know you are affiliated with Questrade as mentioned above but I have started with Wealth simple before I knew about Questrade. Is one really that different from the other?
Great question Monique... When WealthSimple first launched I was a really big fan; they embraced low-cost robo-portfolios that made investing simple, boring and profitable (for the investor.)
But as many robo-advisors have learned a low-cost portfolio is good for the investor but can be lousy business unless you are Vanguard with trillions of assets under management.
In recent years, they have pivoted pretty heavily into encouraging more active management, picking stocks and crypto--Which is a better business model, but likely won't serve the investor.
I use Questrade for my portfolio, because it's simple to buy a few index funds and let it ride. I don't know if it would be worth the hassle of transferring over. If you can build a diversified, low-cost portfolio on WealthSimple and resist the temptation to speculate on individual stocks and coins, you should be okay.
Just my 2-cents. Hope that helps.
That does help. Thank you.