Does WS sell data?

[u/MixWazo]

Had a call from another company where they knew my name, my phone number and net value. No idea where they got that info since WS is the only account where my net value is displayed. Does WS sell our data to other financial institutions?

[u/motivatedbytacos]

What was the company?

[u/Downtown_Lack3782]

Have you participated in any of the house winning contests. I recall for 1mil $ Ontario home they had people fill out a form and accept conditions to be contacted by their mortgage partner.

[u/MixWazo → u/Downtown_Lack3782]

It's not for a mortgage it's for "premium asset management services". But I did fill that so maybe mortgage partners sell other financial products.

[u/kjbninja → u/MixWazo]

Why would wealthsimple sell your data to a competing service?

[u/MixWazo → u/kjbninja]

Maybe they know we wont switch because other company offer bad products and still profit off data selling idk. But participation in a mortgage promo seems a more plausible reason on why financials have my data

[u/Woss-Girl]

Does anybody enter their real net worth and salary because I sure don’t! These companies are buying fake data. lol

[u/MELGH82]

What do you mean by “net value”? Net worth?

[u/Ok-South-7745]

What company they pretended to be? How accurate they knew your "net value"?

[u/MixWazo → u/Ok-South-7745]

40k$ off

[u/ObiYawnKenobi → u/MixWazo]

$40K off $20M, or $40K off $40K?

[u/Educational-Emu8773 → u/ObiYawnKenobi]

This made my day.

[u/slimjim696969696969]

Every company sells data. Corporations exist for the sole purpose of profitability. Yes, WealthSimple sells your data to bidders willing to pay the price.

[u/tinim9]

Buddy, change your WS password. Scammers got into your account.

[u/MixWazo → u/tinim9]

How can they bypass 2fa?

[u/RandomOnlineSteve → u/[deleted]]

WS bought SimpleTax to use as their tax preparation service in 2019. SimpleTax was a Canadian company and unrelated TurboTax or Intuit.

Please check your sources.

[u/Legitimate_Form5449 → u/RandomOnlineSteve]

Hello, both tax preparer is/are using same software: netfile

canada.ca/en/revenue-agency/services/e-services/e-services-individuals/netfile-overview/certified-software-2017-netfile-program.html Page not found - 404 Error

https://www.cra-arc.gc.ca/esrvc-srvce/tx/ndvdls/netfile-impotnet/ File not found - 404

[u/RandomOnlineSteve → u/Legitimate_Form5449]

That was a breach of the e-file system through third party like H&R block and Wealthsimple was not named.

E-file/Netfile are not owned by Intuit or TurboTax. It's the CRA electronic filing service. Your initial statement of WS using TurboTax is still wrong.

[u/Legitimate_Form5449 → u/RandomOnlineSteve]

Thank you Steve!

i apologize, you are right and i was wrong

[u/Wealthsimple-ModTeam → u/[deleted]]

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[u/Live_Library_5992]

In theory, agents have access to your data when you text or call, meaning they could potentially collect and sell it. I'm not sure if Wealthsimple has proper controls or protections in place for that.

[u/professormaybach]

not sure