text: Great article! Wealthsimple keeps telling everyone they have more than a billion dollars in assets under management, however they ALWAYS fail to mention the average size of each account and how much it costs to service all those (I suspect, small) accounts. Unlike BMO SmartFolio, Wealthsimple doesn't charge a minimum amount to open an account. Having to spend large amounts of money on digital marketing and lacking real estate like the big banks, I think Nest Wealth realized how hard it is to onboard new clients and the prohibitive cost of maintaining small accounts, hence the birth of Nest Wealth Pro. I can almost guarantee you that Wealthsimple will soon follow suit. Their brand awareness is very strong and most aging investors living on fixed income can't afford to pay tens of thousands of dollars in annual management fees.