Q: Hi there, I'm thinking of moving some of my investments over to Wealthsimple Trade (WS), which I believe is their self managed online brokerage. In your opinion, would my money be safe with their platform? Do you see any red flags, relative to the Big 6 brokerages? Thanks!
5i Research Answer:
To maintain independence we do not specifically recommend any brokerage. However, WS has the same CIPF insurance protection on accounts as big banks. Certainly it is smaller, but does have the backing of some big players in the financial sector (Power Corporation). We do not see any particular red flags but all financial data is not public.