Can you imagine if they discounted it based on time? People would be scanning .4 items per minute lol

The first and most obvious would I suppose be that their automated investing account has proven useless to me. The positions they chose and the fees resulted in losses the first couple of years and barely scraped back to +10% the last couple. I immediately beat it 3x by just dumping into ETFs, and even beat it with my for-funsies unregistered.

The rest is vibes. Everything they do gives me major "fintech company that will lose my money in a couple of years" e.g Yotta. I have felt a little put off for a while due to things like higher CDIC limit which is achieved via them using other companies.

For chequing account holders, Wealthsimple may spread client funds across one or multiple CDIC members in order to extend the CDIC coverage to up to $1,000,000 for eligible deposits. Source

Pair that with their Cash card being a prepaid credit card and it feels as though they're pairing some really odd methods together just to get the same % return I can get elsewhere.

A point which I had against them, but is quickly becoming irrelevant as other finance websites including Questrade follow, is the derelection of traditional account linking in favour of an insistence to use Flinks. Giving my bank password to a random third party that should never need to be in the process is insanity to me. Why banks can't just setup Oauth schemes I don't know. I guess I'll be using etransfer more and more for now.

The final nail this week was their emailing me to announce a prediction market (gambling) service. Wealthsimple Predict is the latest in their line of chasing trends and they claim you can "predict" (gamble) things as menial as the weather. I understand stocks have risk and can be seen as a gamble, but "prediction markets" are pretty obviously gambling in a bow-tie. Keep it to the casinos, I'm out.

In summary, I want my financial institutions boring. I don't want my money to be with a company that is constantly trying to chase the newest fad, find loopholes in the banking system to get an extra 0.5%, and making gambles (literally and figuratively). It gives me constant doubt as to their future.

Great point on the transfer bonus, I didn't know they did that.

Thank you for the input. :)