How to Become #1 in Canada (in The Wealthsimple’s Way)

Success has many faces, and that’s something Michael Katchen knows all too well. As the chief executive officer of Wealthsimple, he has implemented winning business strategies to position his Robo-investing enterprise as the premier company in Canada. Established in September 2014, Wealthsimple is already a front-runner in the Canadian online investment arena.

It boasts the following plus points: the biggest Robo advisor in the country, no account minimum required, user-friendly platform, quick and easy on boarding, and an exciting array of options for accounts over $100,000. Wealthsimple has had to contend with its fair share of detractors in a relatively short space of time, given that it’s meteoric rise to fame and fortune has been met with resistance from incumbents in the industry. Nonetheless, careful scrutiny of the services offered by Wealthsimple paints a positive picture.

Trudeau and Katchen
Canadian Prime Minister Justin Trudeau and Wealthsimple Co-Founder & CEO Michael Katchen. Photo credit: Wealthsimple

What Makes a Company a Success – the Wealthsimple Paradigm

Wealthsimple keeps it simple. By focusing on what the customer wants and needs, it is possible for a company to offer premium-grade services with high customer satisfaction ratings. The CEO realized that there was a large under-banked and unbanked sector in Canada, and catering to this market was precisely what he set out to do.

The Wealthsimple Black option for large accounts is particularly useful in that there are many exclusive perks and benefits available to high-end clients. An introductory $10,000 offer is par for the course with this Robo-investing platform. One of the reasons why companies can turn things around so quickly is the state of the industry they have recently entered.

In Canada for example, safety and security of investments is paramount. This company was designed to make it easier for Canadians to make intelligent financial decisions. They did this by causing tectonic shifts in the financial landscape – undoing decades of thinking with new age technology. Thanks to the fabulous success of the FinTech sector, Canadian companies like Wealthsimple are making dramatic inroads.

Wealthsimple is now a juggernaut in Canada, and they are 100% safe and secure. They dispense with traditional high brokerage fees, hidden fees, costs and account minimums, and make it possible for investors to use the latest technology to boost returns. Plus, financial advisors are readily available 24/7 to assist with any queries traders may have. They initiate their relationship building through email and live chat. They will evaluate a customer’s risk profile and preferences. All manner of Canadian investment accounts is factored into the equation, such as TFSAs and RRSPs.

Wealthsimple ad campaign
One of Wealthsimple’s ad campaigns. Photo credit: J Zhang / Medium

Excellence Through Leadership: Wealthsimple Management Lights the Way

None of the professionals and founding members of Wealthsimple are amateurs in their field. Guys like Som Seif, Bertrand Badre, and Paul Desmarais have extensive industry experience at the highest level. The mechanics of the Robo advisory service are rather simple. A portion of the payments that you receive from your paycheque is invested across multiple assets. Clients have full transparency with all aspects of their investments.

There are multiple portfolios available at Wealthsimple, and they are tailored to Canadian investors of all risk preferences. The company is CIPF insured for $1 million and the company also owns its own broker. Canadian traders and investors can easily download the iOS and Android app to create an investment account, and since Wealthsimple has partnered with Mint App, they have tremendous traction in the FinTech arena in Canada.

Investor sentiment of this company is bullish, evident in the many Wealthsimple highly positive review writeups posted on third party websites. These all serve as glowing endorsements of the company and its Robo investment services.

Wealthsimple app screenshot

Affordably Priced and Easy to Use

For accounts up to $100,000 clients will have to pay a fee of 0.5% and for accounts exceeding $100,000, the fees drop to 0.4%. Clients have access to corporate accounts, joint accounts, personal accounts and several other unique options. Naturally, your risk preference must be indicated in your account profile.

The company has $1 million in assets under management, no account minimums are required, and has won praise as a leading financial services website. Perhaps the best features of this online brokerage are its ease-of-use. Customer support works quickly to resolve queries, and clients can try utilizing the service for free. The mobile app is fully integrated with the Mint App too.