Client Update: Wealthsimple Transition to Purpose Advisor Solutions
Coming this September there are some changes happening at Wealthsimple that will affect your investment accounts.
The Wealthsimple for Advisors platform that we use to manage your investments will be transitioning to Purpose Advisor Solutions.
We’ve made an explainer video with all the following information about the change:
- What’s happening?
- Why it’s happening
- When it’s happening?
- What changes for you?
- How will it happen?
- What do you have to do?
June 22 – 60 day notice sent to clients
August 6 – Final date to transfer account into Wealthsimple
August 15 – Final date to open a new account at Wealthsimple
August 21 – Final date to OPT OUT of transferring with Safe Pacific to the new platform
August 28 – Final date that deposits & withdrawls will be processed
September 12 – ACCOUNT TRANSFER TO NEW PLATFORM
Links to More information
Wealthsimple Transition PDF
Who are the new parties involved?
Safe Pacific Financial -we continue to be your advisors and single point of contact.
Purpose Advisor Solutions-technology and operational platform for advisors. This is what we will use to see and manage your accounts.
Harness Investment Management -portfolio manager. Harness is the name you will see on your client profile and statements.
Forstrong Global -fund manager. Makes the investment decisions on your portfolio. Buys and sells the funds.
Fidelity Clearing Canada-responsible for the safekeeping of your assets and is where your accounts will be held.
Computer Share Trust Company of Canada-trustee responsible for the administration of registered plans RRSP, TFSA, RESP etc.