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affairesdepiasses@lemmy.ca

Is it just me, or is wealthsimple pretty agressive at the moment to increase their AUM? (lemmy.ca)

submitted 1 year ago by affairesdepiasses@lemmy.ca to c/personalfinancecanada@lemmy.ca

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[–] kae@lemmy.ca 2 points 1 year ago (1 children)

I don't see what's so aggressive about this? They make money by holding your money. It's in their best interest to incentivize people putting more money with them.

I've gotten one notice that this was happening.

Seems like business doing what a business should to grow.

[–] affairesdepiasses@lemmy.ca 1 points 1 year ago (1 children)

It may just be me, but I don't think I've seen anything remotely equivalent from any other discount broker. That's basically an immediate 0.74%-1.30% return, and I don't really see what they'll gain from it except a larger AUM...

[–] Moneo@lemmy.world 2 points 1 year ago (1 children)

They're probably getting heavily discounted iPhones for the promotion.

[–] affairesdepiasses@lemmy.ca 1 points 1 year ago

I've dealt with Apple once a few years ago for an order north of 100 new gen iPhone a few weeks after they were out, and we only got a 3% discount. I don't know if they changed their policy since then, but usually, they don't need to give any discount to sell them, so I wouldn't expect WS to get a large one.