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What you need to know and do
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Hi Ramy,
<br/>
<br style="-ms-text-size-adjust:100%;-webkit-text-size-adjust:100%;"/>
We have some news to share with you. After careful consideration we’ve decided to no longer provide investment services in the UK. In making this decision, our first priority has been to find the right partner to support our clients’ continuing investment journeys. That is why we have decided to transfer eligible Wealthsimple client accounts to
<a style="color:#6c6c6c; text-decoration:underline;" target="_blank">
Moneyfarm
</a>
, a leading European digital wealth manager. Moneyfarm requires a £500 minimum for new clients.
<br/>
<br/>
<span style="font-family: 'FuturaPT-Heavy', Helvetica, Arial; font-size: 19px; line-height: 30px; color:#54575A; font-weight: 700; letter-spacing:-0.5px;">
<strong>
What does this mean for my account(s)?
</strong>
</span>
<br/>
<br/>
<span style="font-family: 'FuturaPT-Heavy', Helvetica, Arial; font-size: 19px; line-height: 30px; color:#54575A; font-weight: 700; letter-spacing:-0.5px;">
<strong>
Unfortunately, your account(s) are not eligible to transfer at this point in time
</strong>
</span>
. As a result, your Wealthsimple account will be closed in 30 days, as per your
<a style="color:#6c6c6c; text-decoration:underline;" target="_blank">
Investment Terms
</a>
, and you will need to
<a style="color:#6c6c6c; text-decoration:underline;" target="_blank">
withdraw
</a>
your funds or
<a style="color:#6c6c6c; text-decoration:underline;" target="_blank">
transfer
</a>
your account to another financial institution by
<span style="font-family: 'FuturaPT-Heavy', Helvetica, Arial; font-size: 19px; line-height: 30px; color:#54575A; font-weight: 700; letter-spacing:-0.5px;">
<strong>
5 January 2022
</strong>
</span>
.
<br/>
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•
</td>
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Please note that starting today you will no longer be able to access your accounts via the Wealthsimple mobile app. You will still continue to have full access to your account from your phone or computer using a web browser.
</td>
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•
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To make a
<a style="color:#6c6c6c; text-decoration:underline;" target="_blank">
withdrawal
</a>
, select the
<a style="color:#6c6c6c; text-decoration:underline;" target="_blank">
Move Funds
</a>
tab on your Wealthsimple account. Withdrawals take approximately 7-10 business days for your money to be returned to your designated bank account.
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•
</td>
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All transfers out must be initiated by the receiving institution that you are moving your account to.
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•
</td>
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If you do not initiate a withdrawal or transfer within 30 days, Wealthsimple will sell your investments and return the funds to the designated bank account on your profile. If you have not provided us with a valid designated bank account by 5 January 2022, we will not be able to return your funds automatically. You will need to contact us at
<a mc-deep-link="false" style="color:#6c6c6c; text-decoration:underline;" target="_blank">
support@wealthsimple.com
</a>
to make arrangements for your funds to be returned to you.
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•
</td>
<td style="font-family: 'FuturaPT-Book', 'Roboto', Helvetica, Arial, sans-serif; font-size: 19px; line-height: 30px; color:#6c6c6c; padding: 0 0 10px 0; text-align: left;" valign="top">
If you need help finding another provider, you may wish to refer to the Personal Investment Management and Financial Advice Association (PIMFA) website
<a style="color:#6c6c6c; text-decoration:underline;" target="_blank">
here
</a>
, which allows you to search for PIMFA members on the basis of your specific criteria and circumstances.
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Please know that our team is committed to providing the highest quality support you’ve come to expect throughout this transition period. You can reach us at
<a mc-deep-link="false" style="color:#6c6c6c; text-decoration:underline;" target="_blank">
support@wealthsimple.com
</a>
or 0800 808 5653.
<br/>
<br/>
It has been our pleasure to serve you and our other UK clients over the last four and a half years. Thank you for being a Wealthsimple client.
<br/>
<br/>
All the best,
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Caroline Murphree, CEO Europe of Wealthsimple
<br/>
The Wealthsimple Team
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Wealthsimple UK Ltd.
<br/>
<span class="unstyle-auto-detected-links">
<a style="color: #888888; text-decoration: none;">
60 St Martin’s Lane,
<br/>
London, WC2N 4JS
</a>
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<br/>
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Wealthsimple UK Ltd. is authorised and regulated by the Financial Conduct Authority (Firm Ref No. 747883). Wealthsimple UK Ltd. is a limited company registered in England (Company No.10154561). With investment, your capital is at risk. The value of your portfolio with Wealthsimple can go down as well as up and you may get back less than you invest.
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2 years, 12 months ago - invest@email.wealthsimple.com
Important update about your Wealthsimple account
What you need to know and do ...