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?

Important Dates

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

Transition FAQ from Wealthsimple

Wealthsimple for Advisors sale to Purpose Advisor Solutions

 Wealthsimple Transition PDF

Link to 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.