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Email this5:05 am
February 16, 2023
Offline
Wealthsimple has an online presentation scheduled – "We take over your life". Is that a good slogan for a financial institution?
While on the Wealthsimple website my browser and uBlock were blocking >50 [count rising as I watched] cookies and trackers! This page and RBC identified 0 trackers. If not your life, Wealthsimple certainly is trying to take over your computer and your right to privacy.
My WS account remains open with a total of $0.00 on deposit/invested.
8:28 am
October 17, 2018
Offline
" You will own nothing and you will be happy " - World Economic Forum message introducing the great reset. Same playbook.
9:14 am
April 27, 2017
Online
The tracker claim alone is not strong evidence that Wealthsimple is worse on privacy than major banks. Different blockers also classify things differently. RBC showing “0 trackers” in one browser setup doesn’t necessarily mean no tracking or telemetry exists; it may reflect how the blocker categorizes scripts or what pages were loaded.
That said, trackers may be there for very good reasons; eg fraud detection, session management, bot attacks, impossible travel anomalies, software optimization and continuous improvement, etc. I really like some of WS security features like trusted places, Passkey and Trusted Contact Person. Not sure RBC gives me that; at least they didn’t advertise. But I am really down on RBC ever since they randomly withdrew cash from my savings account and never responded to my formal complaint. I wish they had better software.
9:49 am
June 28, 2022
Offline
It's always good to be wary, so I acknowlege your warning, Countysaver. Nevertheless, I have accounts with 32 different financial institutions (FIs) in Canada. In my experience, the combination of reliability, ease of use, timely and competent help when requested, a commission-free trading brokerage platform, and the ability to easily transfer money between more FIs than anyone but EQ Bank, I love Wealthsimple. Worrisome slogans aside, they easily rank as my favourite FI in Canada.
12:10 pm
April 27, 2017
Online
I listened to the presentation. Very slick. The name of the event was acknowledged as being deliberately provocative right up front.
Some of the new features were a little oversold. Like having an “authorized trader” feature is very useful, but not exactly earth shattering. Other major brokerages have it too.
For me personally, enhancements to WS business account offerings will make a meaningful difference. My RBC’s business account is now far, far inferior and is about to be shut down.
There was also a bunch of features relating to linked kids’ accounts, borrowing, overdraft protection and tracking expenses. I don’t really care about any of these, except overdraft protection- and then only assuming its going to be available for joined accounts.
Sharing data on household assets with your spouse, and having a single repository for all accounts including those outside ws is kinda nice; I am already using it so not exactly new.
WS negotiated a 35% TELUS discount for Generation clients (if memory serves right).
They will also give out lottery style cash rewards from $50k to $1m, which is a gimmick.
The whole thing was slightly irritating but also very captivating. I am not usually a fan of marketing events. As for substance… Nothing major really, but getting better all the time.
12:52 pm
November 5, 2022
Offline
WS presentation was a bit cringey, but was fine.
WS has added some good stuff recently, 2% cashback card is good, Portfolio LOC has a low rate, chequing account has cheques, they are actually improving.
Unlike accounts like Tangerine or Simplii which are 100% stagnant.
