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Business Profile

Investment Management

Wealthsimple Financial Inc

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

Customer Complaints Summary

  • 39 total complaints in the last 3 years.
  • 17 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:18/03/2024

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I downloaded and app call wealth simple that was recommended by my accountant. I was researching where to put an inheritance. Before I even agreed or gave them money they charged me saying my stocks dropped. I never agreed, nor gave them any funds to start stock trading. They have sent me to collections where I receive up to 9 calls a day, and I have been on hold with the company for over an hour a day for a week not able to reach anyone. I just want this wiped because it is effecting my credit report!

  • Initial Complaint

    Date:10/01/2024

    Type:Sales and Advertising Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    wealthsimple offered a bonus $2000 for using their system. i had planned on moving approximately $30,000 to their tfsa program. their system limits the amount you can transfer to $3000 a day. i made the first transfer today and recieved an email nsaying i received a $25 bonus payment. it also said there will be no further payment from this bonus program. I was compeltely mislead by the wealthsimple customer service people and this offer is *********.

  • Initial Complaint

    Date:08/12/2023

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    In July, I had an issue with a transaction and merchant issued me a refund but never got to my account. I opened a chargeback/dispute with WealthSimple *** ***** ***** **** **** ********* ***** They told me that it would take a MAXIMUM of 90 days, and well, today makes it the 94th day.

    Ive been contacting them, sending them email for the past 2 weeks everyday and not a SINGLE answer. **** ***** ** ***** *** **** ** **** * ****** *** ** ******* ****** ******** ******** ******** ******** *** **** **** ***** ******* **** *** *** *** * ********* ******* ******** *** *** **** ***

  • Initial Complaint

    Date:25/10/2023

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Wealthsimple has been taking money from me ********** ******* ** ********** Its sometimes 1 cent per share (I oftenbuy in 100 lots), or in $5 sums deducted from my purchases. ******* ******* ********** ******** *** I've taken screenshots immediately after my purchase. This isn't reflected in the transaction confirmation document. They post the amount AFTER deductions were made. * *** **** ********* I'd also like to say that I'm well aware of market risks* *** **** ****** ** ***** ***** ****** I've brought this to their attention and even escalated it, but suddenly **** ** ** ************* I'm unable to access my account activity. **** ***** ***** ************* **** ***** ************ ** *********** *** ********** **** ******* ********* ***** ****** *** *********** *** ****** **** **** **** ** ***** **** *** **** *** ******** **** **** ******** ** *********** * **** ** **** **** ** ******** ***** *** ***** ********** *** *** **** ******* ***** *** *** ***** ***** ** **** **** ***** **** ******** *********** ** *** ** ** ************* ***** *********** ***** ******** ** *** * *** *** ***** ***** ************ ********* ** *** * *** ************** ** ****** ***** * **** ***** *** ******** ** ** ******* **** * ******* ** ****** *** **** *** ** *** *** **** I was charged $0.06/share @1,000 shares for $60, and $5 was taken. The transaction document shows that I paid $55. Nothing showing i paid $60. **** ****** *** *** ******* ******** **** ******** 

  • Initial Complaint

    Date:06/07/2023

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On June 13th $2200 was removed from my ******* account to Wealthsimple and then removed through my Wealthsimple account to a bank account I do not know ************* 
    These transactions have been reported by ******* as fraudulent however Wealthsimple has declined my request for return of these funds without specifying a reason.

    Now I am ********* $2200 and have not been reimbursed in ten business days ***** ******** ******** **** 
    They need to return my funds.

  • Initial Complaint

    Date:05/07/2023

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have a wealthsimple trading account, on June 27 I sold two shares of ***. I did not get credited for that sale, I called support to try resolve. Wealthsimple support now says they have no record of my account but I still have access on the app. I just want my account fixed and the money for the sale

  • Initial Complaint

    Date:20/06/2023

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    ************ ** ******** * ** ******* ** *** **** **** ** **** **** *** ***** * wealthsimple does not provide you with any statements, the cash card is only viewable in the app, they only show you the Canadian amount they are taking off your cash balance (not the foreign amount in euros, USD, etc), they do not show you the transaction date (just the posted date) and the app deletes all your transactions after the last 15 or so, so you will never be able to figure out what you spent or report fraudulent transactions. ************ ** * ******** ***** their staff *** **** *** claim they are not deleting my transactions but they refuse to provide me with a list of transactions on my card ** **** **** ********* **** ** **** ******* *** * **** ** **** *** **** ***** **** ****** ** **** ** ** **** ***** ******** **** ** ********* ** ** ********** ** **** *** ** ** ****** *****

  • Initial Complaint

    Date:24/04/2023

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    My account was terminated by stating that I had violated some terms of use. They did not tell me what has been violated and my crypto account money, around $3500 is stuck with them. I need this money urgently.
    Please help.

  • Initial Complaint

    Date:06/02/2023

    Type:Service or Repair Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I haven't been able to withdraw my funds the past month. Every time I contacted WealthSimple, they kept telling me to wait two days. ** * ***** ******** ** ***** ** *** ***** * **** **** * ********

Wealthsimple Financial Inc is NOT a BBB Accredited Business.

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