Wealthsimple launches smarter, simpler RESPs

Fully digital RESPs make investing in a child's future easy and paperless

TORONTO, March 28, 2017 /CNW/ - Wealthsimple has relaunched its Registered Education Savings Plans (RESPs) to make them smarter, simpler and entirely paperless. New and existing clients can now open and fund an RESP online through Wealthsimple's mobile or web app, and have the money invested in a smart, low-cost portfolio - removing many of the frustrations Canadians have around RESP accounts.

"Our mission is to make investing simple, and what we were hearing from our clients was that RESPs could be made a lot simpler," said Jason Goldlist, general manager at Wealthsimple. "Our digital accounts solve the biggest pain points our clients had with RESPs, like the arduous sign-up process, inconsistent funding experiences, and the high fees charged by many providers."

Wealthsimple has made opening, funding and transferring an RESP easier than ever with:

Easy online registration
Traditionally, opening an RESP involved significant paperwork. With Wealthsimple, clients can register for an RESP digitally, and securely e-sign their documents. No printers, scanners or fax machines needed. 

Smart, cost-effective investment products
Wealthsimple's RESPs are invested in diversified, low-cost ETF portfolios, according to financial principals that won the Nobel Prize.

Low management fees
Wealthsimple charges only its standard management fee of 0.4-0.5%. There are no administrative, trading, account transferring, or rebalancing fees.

New and existing clients can open an RESP today by going to wealthsimple.com or on the iOS or Android app.

About Wealthsimple
Wealthsimple is an online investment manager that combines user-friendly digital tools and personal financial advice to make smart, automated investing available to everyone. With no minimum account size and low fees, Wealthsimple makes investing simple, accessible, affordable and personalized. Available in the U.S. and Canada, Wealthsimple is founded by a team of financial experts and technology entrepreneurs, and backed by Power Financial Corporation (TSX:PWF), a diversified management and holding company that has interests in financial services companies in Canada, the United States and Europe. To learn more, visit www.wealthsimple.com.

SOURCE Wealthsimple

For further information: Rachael Factor, Wealthsimple, rachael@wealthsimple.com, 647-802-6751


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