Opening an account with Wealthsimple Work

Congratulations on your new Group RRSP offering! Let’s get your account up and running.

1. Open email invitation from Wealthsimple
   You should have received an email invitation to join your Wealthsimple Work account. This will contain two links. If you are new to Wealthsimple, click on Sign up for an account to create a User ID and password, then log in using your new credentials. If you are an existing Wealthsimple customer, click on Connect to your Group RRSP.
   
   NOTE: Both of these links are unique, just for you, which means it won’t work to forward or receive this email from a well-meaning colleague.
   
   It’s very important that you use your personal email to sign up for an account, instead of your work email.
   
   
2. Fill out risk questionnaire
   If you’re a new Wealthsimple customer, you’ll be asked to fill out some basic information, followed by a quick (10 minute) questionnaire that asks about your investing goals, how soon you’ll need this money, how comfortable you are with risk, your past investing experience etc. Click Start your plan and then answer the questions to the best of your ability.
   
   If you already have an individual Invest account, you will have to fill out a new survey to choose the portfolio theme and risk level for your Group RRSP, which will allow you pick the right portfolio for this investment account.
   
   
3. Select your portfolio
   Based on your questionnaire, the platform will recommend a portfolio to fit your financial goals. These portfolios are organized by theme (Standard, Social Responsible, Halal) and risk tolerance (Conservative, Balanced, Growth). If your financial goals, timelines or risk tolerance change at any point in your investing journey, you can change your portfolio on the desktop platform at any time.
   
   If you need help at any point, you can either book a 1:1 meeting with a portfolio manager or click the live chat in the bottom right corner bottom right corner to get immediate assistance.
   
   
4. Set your beneficiary
   You will be prompted to fill out a beneficiary form, a process that looks a little different depending on the province in which you reside. There’s a full help article on setting beneficiaries.
   
   Anxious to finish enrolling? You can set a beneficiary at any time, so feel free to come back to the this step.
   
   
5. Sign the service agreement
   You’re almost there!
   
   It’s time to e-sign your account agreements. Review and confirm that all of your information in the agreement is correct, check off your agreement and create your e-signature. Please review the agreements before signing.
   
   You’ll be asked to appoint Wealthsimple as the portfolio manager of your assets held by ShareOwner in your GRSP account. This will give authority to Wealthsimple to supervise and direct the investment of the assets in your GRSP account.
   
   In other words, Wealthsimple will develop a personalized investment plan tailored to your goals and make all investment decisions with respect of your GRSP account. ShareOwner will then invest your assets in accordance with Wealthsimple's instructions.
   
   
6. View your Group RRSP account on your main dashboard
   Hooray! You should now see your Group RRSP account on the main dashboard of your Wealthsimple account.
   
   If your employer is transferring their existing plan to Wealthsimple Work, you should see your funds appear in your Wealthsimple account. This typically takes 4–6 weeks.
   
   
7. Set your contribution
   Ensuring you’re using the desktop version of the platform (i.e. not the app), follow the prompts on your dashboard to set your contribution amount. You can set a specific dollar amount or, if you have a matching plan, click the box that says “Maximize my employer’s contributions.” It will automatically fill in that number for you, based on the plan your employer has set up.
   
   Again, if you need help at any point in the enrollment process, click the live chat in the bottom right corner bottom right corner to get immediate assistance.