Wealthsimple Core vs Premium vs Generation: Complete Tier Comparison (2025)

Wealthsimple isn’t just a brokerage—it’s actually a tiered ecosystem where your benefits get better as your account grows. If you’re wondering whether it’s worth pushing to hit that $100K or $500K threshold, this breakdown of Wealthsimple Core vs Premium vs Generation will help you figure out the real value.

Quick Tier Overview

Core Tier ($0 - $99,999)

The Core tier is where everyone starts—and honestly, it’s pretty solid on its own. Here’s what you get when you’re just starting out or building up your portfolio:

What You Get

Stock & ETF Trading:

• $0 commission on all Canadian stocks and ETFs
• $0 commission on US stocks and ETFs (with FX caveat)

Managed Investing:

• 0.50% annual management fee
• Automatic rebalancing and dividend reinvestment

Banking:

• 1.25% interest on Chequing balance
• Can boost to 1.75% with $2,000+/month direct deposit

Crypto:

• 2% trading fee per transaction
• Access to major cryptocurrencies

The Hidden Cost: USD Trading

Okay, here’s the catch for Core users—there’s a 1.5% currency conversion fee every time you touch US stocks.

Example: Buying $10,000 of Apple stock:

• FX fee: $150 (buy) + $150 (sell) = $300 round-trip cost

The workaround? The USD Account for $10/month, which lets you hold USD and avoid per-trade conversion.

For someone trading US stocks monthly, this makes sense:

• Without USD Account: $300+ per trade in FX fees
• With USD Account: $120/year flat fee

Is Core Good Enough?

Yes, if you:

• Only invest in Canadian stocks and ETFs
• Have less than $100K in total assets
• Don’t actively trade US equities

No, if you:

• Frequently trade US stocks
• Have approaching $100K and want lower fees
• Want higher interest on cash

Premium Tier ($100,000+)

Premium is really the “sweet spot” for serious investors in Canada. Hit $100,000 in net deposits across all your Wealthsimple accounts, and you’ll unlock these upgrades automatically.

What Changes at Premium

Free USD Account:

• Saves $120/year immediately
• More importantly, eliminates the need to convert on every US trade

Lower Management Fee:

• Drops from 0.50% to 0.40%
• Saves $100/year on a $100,000 portfolio

Higher Cash Interest:

• Base rate: 1.75% (vs 1.25%)
• With direct deposit: up to 2.25%

Reduced Crypto Fees:

• Trading fee drops from 2% to 1%
• Staking reward cut reduced from 30% to 20%

Better Options Pricing:

• Per-contract fee drops from $2 to $0.75 USD

Priority Support:

• Faster email and phone response times

Is Premium Worth It at $100K?

Let’s do the math for a typical $100K portfolio:

Our take: Premium is absolutely worth it at $100K. The benefits kick in automatically—you don’t have to do anything once you hit the threshold. For most Canadians investing in US stocks, the free USD account alone pays for itself.

If you’re close to $100K, consider consolidating accounts to reach Premium faster.

Generation Tier ($500,000+)

Generation is Wealthsimple’s answer to private banking. It targets high-net-worth individuals who might otherwise use full-service wealth managers.

What Changes at Generation

Lowest Fees Possible:

• Management fee: 0.40% at $500K, scaling down to 0.20% at $10M+
• That’s $1,000-$2,000 saved annually on a $500K portfolio

Maximum Cash Interest:

• 2.25% base rate (highest tier)
• Additional 0.5% boost with direct deposit = up to 2.75%

Lowest Crypto Fees:

• Trading fee: 0.5%
• Staking reward cut: 15%

Private Asset Access:

• Private credit funds
• Private equity investments
• Summit Portfolio — Wealthsimple’s flagship offering for Generation clients, combining public and private assets in a single managed portfolio
• Previously only available to institutional investors with $1M+ minimums

Lifestyle Perks:

• 50% off Medcan health plans
• Partner rewards (Uber One, Strava Premium, etc.)
• Dedicated financial advisor access
• Estate planning services

Credit Card Benefits:

• Wealthsimple Visa Infinite annual fee waived ($240/year value)

Is Generation Worth Pursuing?

If you’re naturally growing to $500K through investing, the benefits are automatic and significant.

Actively chasing $500K just for Generation status? That depends:

• Don’t move money into worse investments just to hit the threshold
• The math: $500K × 0.1% fee savings = $500/year
• Combined with other perks, Generation clients save $1,000+ annually

Side-by-Side Fee Comparison

For a $100K Portfolio

For a $500K Portfolio

*Generation fee scales down with higher balances

Which Tier Is Right for You?

Choose Core If:

• You’re just starting out
• Your total assets are under $50K
• You primarily invest in Canadian assets
• You don’t actively trade

Push for Premium If:

• You have $80K+ and can reach $100K
• You trade US stocks regularly
• You want lower crypto fees
• You value priority support

Target Generation If:

• You naturally have $500K+ to invest
• You want access to private assets
• You value lifestyle perks
• You’re consolidating from multiple advisors

Getting Started with a Referral Bonus

Regardless of which tier you’ll eventually reach, everyone starts the same way—and everyone is eligible for the referral bonus.

👉 Sign up with referral code 9C6DMQ and get a $25+ cash bonus.

If you’re transferring a large portfolio to immediately reach Premium or Generation, you could qualify for the Referral Ladder Challenge with sign up bonuses worth up to $5,000.

💰 Want to compare promotional benefits by tier? Learn when Wealthsimple promo codes might beat referral codes: Promo Code vs Referral Code Guide

Related Articles

• Wealthsimple Referral Code 2025: Ultimate Guide
• Referral Ladder Challenge: Earn Up to $5,000
• Wealthsimple vs Questrade Fees 2025
• Wealthsimple Cash Account Review 2025

Frequently Asked Questions

Can I combine assets with my spouse to reach Generation status?

Yes. Wealthsimple allows you to create a “Household” by linking your profile with a partner. Their system combines your total assets to calculate your tier. For example, if you have $300,000 and your partner has $200,000, you will both be upgraded to Generation status and unlock the 2.25% interest rate and other perks.

If the market drops my balance below $100k, do I lose Premium status?

Wealthsimple generally protects you from market downturns. Your status is determined by net deposits OR total portfolio value—whichever is higher. If you deposit $100,000 and the market drops your value to $90,000, you typically maintain Premium status. You usually only risk downgrading if you withdraw funds that drop your net deposits below the threshold.

Do I have to pay the $10 USD fee for each account separately?

No. If you are a Core client paying for the USD account subscription ($10/month), that single fee covers all your eligible accounts (TFSA, RRSP, and Non-Registered). You do not need to pay per account. If you are Premium or Generation, this fee is waived entirely for all accounts.

Is my money locked in if I invest in Private Credit or Private Equity?

Yes, these assets have different liquidity rules than stocks. Unlike ETFs which can be sold instantly during market hours, Private Credit and Private Equity funds typically have specific monthly or quarterly “redemption windows.” In times of high market stress, there may be limits on how much can be withdrawn at once.

Do Generation clients still get DragonPass lounge access?

Yes, but it is part of the “Milestone Rewards” system. Once you reach the required asset level, you can select the 10 DragonPass lounge visits as your reward for the year. This is separate from any lounge access provided by the Wealthsimple Visa Infinite Privilege card.

Does TFSA + RRSP + Chequing all count toward tier status?

Yes. All Wealthsimple accounts are combined when calculating your tier.

Do referral bonuses count toward tier qualification?

The Wealthsimple sign up bonus itself is cash, not “deposits” for tier purposes. However, any funds you deposit to receive the bonus do count toward your tier status.