New Wealthsimple Promo | Page 2 | Wealthsimple | Discussion forum

This page provides a nice summary:

https://help.wealthsimple.com/hc/en-ca/articles/14557325627803-Understand-the-different-tiers-offered-by-Wealthsimple

…but even that does not seem to list all the “perks”. Generation tier gives you a dedicated advisor, tax Pro plan, tax loss harvesting, 10 airport lounge passes per year, etc.

In other cases “benefits” may be technically the same for all tiers but depending on size of your transaction, they will charge you from nothing to 1.5% FX fee.

RetirEd said
Thanks, guys. So it's their own made-up term, then?  

All banks have “tiers”. Typical internal industry standard terms are:
- HNW (High Net Worth): typically ≥ $1M in investable assets
- UHNW (Ultra‑High Net Worth): generally ≥ $50M

The theory is that depending on net worth people have different banking needs.

And then they have “branded” service levels to reflect this and help bring and retain assets. For example CIBC Tiers:

Imperial Service ~$300K in assets or debts
Private Banking / Private Wealth ~$1M in investable assets
Family Office ~$50M+ under management

Much of it is pure marketing.

HSBC:

- Premier: 100K
- Jade: 1M
- Etc

WS is innovating here by playing with levels and perks. Higher end “private banking” type services relating to taxes, investment, estate planning, etc are being given for free at just $0.5M but it's all a little different and designed to leverage technology and partnerships.