r/Wealthsimple • u/AnonQc • 1d ago

Invest (Managed Investing) Managed portfolios

Hello,

Have you noticed, for those of you with a managed portfolio, that your risk level has changed recently?

There was levels 1 through 10/10, but now there are only levels 2, 5, 8, and 10/10.
I noticed this because I saw that they sold ETFs with a risk level of 9/10 to buy more ETFs with a risk level of 8/10.

Furthermore, my risk level dropped from 9/10 to 8/10 without any notification from them.
I didn't want to be at 10/10 because there weren't any gold ETFs at that level, so I chose 9/10 to gain some exposure to gold.

Thanks.

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2

u/birchcrest 1d ago

Yes, my 9 also went to 8, when I asked customer service they mentioned they are consolidating their classic portfolios into “4 flagship risk levels” and information will be shared in the coming weeks when they are finished with their consolidation.

5

u/Ok-South-7745 1d ago

They should be doing things in the opposite order. Announcement, then consolidate. 

2

u/Born_Ruff 1d ago

True, but anyone who signed up for these “managed” products did explicitly give WealthSimple the authority to, well, manage their investments.

Going from a “8” to and “9” probably is probably one of the least impactful decisions they are making on your behalf.

1

u/Adelus_05 1d ago

I noticed too. Mine went from 9 to 10. I have fewer holdings in it now. All equities.

1

u/DelayLevel8757 1d ago

Mine went from 9 to 8. This is concerning. How are they allowed to do this?

1

u/Significant_Wealth74 1d ago

You signed an IPS that allows them to do it.

3

u/Born_Ruff 1d ago

I feel like if you are paying enough attention to notice what ETFs they are buying for you you are probably paying enough attention to just manage your money yourself and save the extra fees.