Wealthsimple has launched a new pricing structure called Wealthsimple Black for clients who invest $100,000 or more.
For those with less than $100,000 invested, Wealthsimple Basic will continue to provide services like a 0.5% management fee, personalized portfolio and on-demand financial advice.
Meanwhile, Wealthsimple Black will provide both basic and added services, including personalized financial planning, tax-loss harvesting and tax-efficient accounts. It also offers a 0.4% management fee.
In other news, robo-advisor Wealthbar says it has hit its $100-million milestone. The digital wealth manager, which has been in business for two years, now oversees more $100 million in discretionary assets for clients across Canada and is one of the top players in the space.