Since 2016: focus on product offerings
In 2015, Product Hunt Toronto honoured Wealthsimple with its first-ever Product of the Year Award.[9] In 2016, the 20th Annual Webby Awards named Wealthsimple its Best Financial Services/Banking website.
In March 2016, Wealthsimple began offering clients access to socially responsible investment funds.[10]
In May 2016, the firm announced a partnership with Mint, thus allowing clients to sync their Wealthsimple investment account to Mint's budgeting software.[11] Also, that month, Wealthsimple launched Wealthsimple for Advisors, an automated platform for financial advisors. The service is intended for advisors who wish to maintain clients with accounts below their minimum requirements.[12]
On April 5, 2018, the firm launched Wealthsimple Save, a high-interest savings account with a rate that will always be higher than traditional banks.[13][14] Wealthsimple Trade, a zero-commission stock and exchange-traded fund (ETF) trading mobile app, was available as a beta in August 2018 and publicly launched in March 2019.[15][16]
As of March 2019, Wealthsimple publicly supports Wealthica synchronization via their secure, open API.[17]
In January 2020, Wealthsimple launched Wealthsimple Cash for Canadian customers, a hybrid savings/chequing account offering high interest on balances. Spending features such as a Visa Debit card, e-transfers, bill payments, and paycheque/cheque deposits are planned to be rolled out through 2020.
As of March 2020, Wealthsimple Trade became unable to handle the volume of trades their customers were placing and began capping the number of users and putting some investors on to waitlists.[18]
In November that year, Wealthsimple Cash transitioned from a savings account to a peer-to-peer cash transfer app. Having first launched in beta, the app was made widely available in March 2021.[19]
On July 8, 2021, Wealthsimple Trade announced that they would launch fractional shares in the platform, starting the next day.
In October 2022, Wealthsimple announced that it had become Canada's first nonbank, non-credit-union to be approved for a direct settlement account by the Bank of Canada, paving the way for its access to Canada's future real-time-rail payment system.[20]
In October 2024, Wealthsimple launched their own travel eSIM with Gigs.[21] The following year, the company surpassed $100 billion CAD in total assets under administration (AUA).
