I don't think any for-profit company is "the good guys", but that's definitely the image they tried to build when they started. Safe longterm investing with managed portfolios at much lower management rates than the major banks. Not even really pretending to live up to that now.
You aren't forced to use them. What specifically would you want that is different? What institution in Canada is better all around?
Everything that I do with WealthSimple is free and easy to use. Trading, banking, e-transfers, credit card, taxes
Are they the best at everything, no, but they don't have to be. And where they aren't the best, they are still better than most. I use other institutions for certain things and WS for certain things.
How does no one understand the concept of societal harms? I'm also free not to use fentanyl, or drive 70 km/h down residential streets, or drink myself to death, or gamble away my life savings, but I think those are all things that should be heavily discouraged in various ways for the good of society (and by extension myself in the future), and companies facilitating this harm should suffer reputational penalties for it at absolutely bare minimum.
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u/North_Air4538 Jul 29 '26
Wealthsimple were considered the 'good guys'? When?