Wealthsimple is Canada's leading commission-free investing platform, offering self-directed trading, managed portfolios, crypto and registered accounts (RRSP, TFSA, FHSA) inside its own ecosystem.
| Feature | Richify | Wealthsimple |
|---|---|---|
| Net Worth Tracking (CAD) | Across all institutions | Within Wealthsimple accounts |
| Commission-Free Investing / Trading | ✗ | Stocks, ETFs, crypto, options |
| Managed / Robo Investing | ✗ | Managed portfolios |
| RRSP / TFSA / FHSA Accounts | Tracks accounts anywhere | Hold accounts in-app |
| Property & Mortgage in Net Worth | Built-in, manual | ✗ |
| Outside Banks & Brokers | Track everything in one view | Wealthsimple holdings only |
| AI Explanations & Coaching | Built-in AI (Felix) | ✗ |
| What-If Scenario Planning | RRSP vs TFSA, FHSA, mortgage | ✗ |
| Privacy-First (no linking) | Manual entry, no linking | Holdings inside the platform |
| Compare to Canadians Your Age | Age benchmarks | ✗ |
| Multi-Country Support | 7+ countries | Canada-focused |
| Pricing | Free trial, then paid plans | Free trading; managed has fees |
The Verdict
Wealthsimple and Richify are complementary, not direct rivals. Wealthsimple is the place to invest and hold registered accounts; Richify is the place to see your entire net worth across all institutions — including property — with AI explanations and what-if planning. If you want a single home for investing, choose Wealthsimple. If you want to understand and plan your total financial picture, use Richify (ideally alongside Wealthsimple). Richify offers a free trial before paid plans.
Last reviewed: · Reviewed by the Richify team
Track your net worth, run calculators, and get built-in AI insights — all in one app. Start with a free trial.
Try Richify — Free TrialThey solve different problems. Wealthsimple is where you invest and hold money — commission-free trading, managed portfolios and registered accounts. Richify is where you see your whole net worth across every institution, including property, with AI explanations and what-if planning. Many Canadians invest with Wealthsimple and track their total picture in Richify.
Wealthsimple shows the holdings and accounts you keep inside Wealthsimple. It is not designed as a cross-institution net worth aggregator for outside banks, brokerages or property. Richify is built specifically to combine accounts from anywhere into one CAD net worth view.
Yes. You can manually add your Wealthsimple RRSP, TFSA, FHSA and non-registered balances to Richify alongside outside accounts, property and crypto to see your complete net worth in one place.
No. Richify is a tracking, education and planning tool — it does not execute trades or hold money. Use Wealthsimple (or your broker) to invest, and Richify to understand and plan your whole financial picture.
Richify. Property equity and mortgages are part of your net worth and what-if scenarios. Wealthsimple focuses on the investments and cash you hold with them.
No. Richify is educational — it explains, models, organizes and benchmarks. It is not a licensed advisor and does not direct you to buy or sell specific products.
Comparison is educational only. Features and pricing may change. We strive for accuracy but recommend verifying directly with each service.