Wealthsimple VS Tangerine
When asked which of these four platforms should you recommend to your friends and family, the answer is Wealthsimple Investing Robo. If you sign up today for free, the easiest way to turn a part of your paycheck into a diversified portfolio within a month is to sign up for $10,000. If you choose between Questrade, Wealthsimple or any other discount brokers and robot advisers from Canada, you need to decide whether the DIY Discount Broker model is more of a practical model for your style. To make this decision, you can compare apples with apples when it comes to Questrade as a discount brokerage and Wealthsimple as a fully traded Questrade portfolio or Wealth simple as an investment-by-Robo advisor. For additional comparison options, I recommend our article QTrade vs Wealthsimple.
Anyone looking for the best robo-adviser in Canada should definitely take a closer look at Wealthsimple. Wealthsimple is the leading robo-adviser in Canada, with over 175,000 clients and more than $5 billion in assets under management (AUM).
Robo-advisors have gained popularity in recent years in Canada and the US because of their effective system of investing in low-income exchange-traded funds (ETFs). In addition to its passive robo-adviser offerings, Tangerine also offers private investment portfolios. Like Wealthsimple, it has ethical funds and clean tech that can be added to your portfolio if you wish.
Tangerine Bank is well known for having one of Canada’s best high-interest savings accounts and offers Tangerine index funds. This is the easiest way for you to invest and minimize the fees you pay. Tangerine investment funds are expensive compared to robo-advisers or ETFs, but I think they are a great product.
The Tangerine Global ETF portfolio is not as good as investing through a robo-adviser such as Wealthsimple or managing your own ETF portfolio through a brokerage such as Questrade. Nonetheless, it is still a solid investment product, a step up from tangerine funds. Read on to find out if Tangerine’s investment fund suits you.
Tangerine also offers a good cashback credit card and a great fee-free checking account. While Tangerine’s investment funds have some appeal, a Tangerine Chequing and Savings account for holders who prefer to keep everything under one roof.
Tangerines Global ETF Portfolio has three different investment funds in exchange-traded funds (ETFs) that allow you to diversify your investments over a range of stocks and bonds. If you want more control over your investments and a discount brokerage is the way to go for lower fees, you can recommend TD E-Series Index Fund Solutions ETF portfolio on Wealthsimple or Questrade.
It is unusual for Tangerine to brand mutual funds as ETF portfolios. However, the company has been offering investment funds since its inception, and it is a bank in Canada, so no surprise.
While typical robo-advisers such as Wealth Simple and Justwealth use ETFs as investments vehicles, Tangerine is a State Street investment fund manager who buys individual companies and bonds and manages a portfolio. For example, to gauge the growth potential of the US stock market, the Tangerines portfolio holds 500 US companies in the S & P 500 index, the most popular and widely deployed on the market.
Tangerine Investment Fund and Wealthsimple Invest have some important things in common. Both of these features give access to customer service functions that automate your contributions, portfolio balancing and dividend reinvestment to keep your investments on track. In addition, the four core Tangerine investment portfolios combine the broad market of US, Canadian and international equities.
The difference between Tangerine and Wealthsimple is that. Wealthsimple offers various portfolios, including Halal and Responsible Investing, while Tangerine creates portfolios with in-house index funds. For example, Mandarin Portfolio is created using in-house index funds that attempt to replicate the index.
They take the wind out of the investment process by using proprietary algorithms and computer software to determine investors’ investment profile, risk tolerance, investment certainty, investment horizon, financial goals, age and wealth. In addition, Wealthsimple Invest is committed to saving customers money by enabling them to invest in a variety of low-cost exchange-traded funds (ETFs). Wealthsimple uses technology to invest its money in a diversified portfolio of low-cost ETFs, a model based on the modern portfolio theory of Nobel laureate Harry Markowitz.
When Tangerine launched its Streetwise family of investment options in 2008, it secured a place in the hearts of passive investing advocates. Of course, many people are quick to point out that several robo-advisers offer more responsible investment options (see our guide for details). Unfortunately, Tangerine’s does not provide any of these. Nevertheless, if you love the company for its excellent checking accounts and high-interest savings accounts, it’s worth pursuing its investment options in the name of simplicity.
Tangerine, for example, charges $125 if you transfer your registered investment account to another institution and $50 if you transfer your TFSA, RIF or RRSP to another provider. You can also buy funds in a TD branch, but additional paperwork is required if you hold funds in many discount brokerage accounts (more on this later in the day). On the other hand, the portfolios of the E-Series TDs are fully loaded, meaning there are no fees when you buy.
For new investors with less than $5,000 and who want the lowest investment options available, Tangerine offers zero-fee mutual funds on unconditional ETFs (here’s a Globe and Mail article on the best options that will save you more than $5,000 ). It is not a brokerage and does not offer a trading app for selling and buying shares but is considered an alternative to opening a brokerage account. It is the most recommended option for Canadian couch potatoes, and option 1 is often described as the easiest way to start index investing.
Wealthsimple Questwealth Portfolio CI Direct Investment Welcome Offer 75% Bonus $500 Minimum deposit No $10K Managed free per year Management fees: 0.4%-0.25% per year 0.35%-0.06% / year Apply under our link if you open a fund in a new Wealthsimple Investing account, there is a minimum deposit of $5.00. Your bank account will be linked, and you can deposit anything you feel comfortable with into your Wealthsimple investment account, which you can then conveniently deposit into your portfolio.