What to do when a Wealthsimple account holder dies
Contact Wealthsimple — 5-step process, 4 required documents, and initial response within 2-3 business days; full settlement timeline varies based on complexity and documentation
Wealthsimple Client Success
Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada
Wealthsimple Client Success
Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada
Wealthsimple Estates Team
Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada
What happens to Wealthsimple investment accounts after the account holder dies depends on how each account was titled. Beneficiary-designated and trust-owned accounts transfer directly. Accounts in the deceased's name alone go through the estate, and the executor or administrator works with Wealthsimple's Wealthsimple Estates Team (1-855-255-9038) to claim the funds.
Death claims at Wealthsimple can be started through an online portal, which streamlines the initial notification and document upload. Phone and mail options are also available.
Death claim process
Here is the step-by-step death claim process at Wealthsimple:
Filing a claim
- Phone: 1-855-255-9038 (Monday-Friday 9am-6pm ET)
- Email: support@wealthsimple.com
- Live chat available through the Wealthsimple website or app
- Death certificate
- Letter of Direction from the executor with instructions to liquidate and pay out the estate
- Probate document (Certificate of Appointment, Grant of Administration, etc.) if already obtained - provide a notarial or certified true copy
- Registered accounts with a named beneficiary: assets distributed directly to the beneficiary
- Non-registered accounts or accounts without a named beneficiary: assets paid out to the estate of the deceased client
Required Documents
- Death certificate
- Letter of Direction from the executor
- Probate document (Certificate of Appointment, Grant of Administration) - notarial or certified true copy
- Government-issued photo ID of the executor or beneficiary
What to know at this institution
Wealthsimple's estates team only settles existing Wealthsimple accounts. Executors cannot transfer accounts from other financial institutions to the deceased client's Wealthsimple profile. This process applies to Canadian accounts only. Wealthsimple is an app-based platform with no branches, so estate matters are handled by phone, email, or chat. Former US clients were transitioned to Betterment in 2021 - US heirs settling a former Wealthsimple US account should contact Betterment at (718) 400-6898 (betterment.com/contact), not Wealthsimple.
Expected timelines at Wealthsimple: Initial response within 2-3 business days; full settlement timeline varies based on complexity and documentation. Delays are almost always caused by incomplete paperwork—gathering all required documents before filing the initial claim helps avoid back-and-forth.
Wealthsimple requires Death certificate, Letter of Direction from the executor, Probate document (Certificate of Appointment, Grant of Administration) - notarial or certified true copy, and Government-issued photo ID of the executor or beneficiary to process a death claim. Certified copies are typically needed—photocopies are generally not accepted for death certificates or court documents.
Frequently asked questions
In March 2021, Wealthsimple sold its US investment advisory book of business to Betterment. Former US clients were transitioned to Betterment accounts by June 2021. Contact Betterment at (718) 400-6898 (betterment.com/contact) for questions about, or death claims on, former Wealthsimple US accounts.
Contact Wealthsimple's support team by phone at 1-855-255-9038, by email at support@wealthsimple.com, or via live chat on the website or app. You will receive an email from the estates team within 2-3 business days with further instructions. While waiting, prepare the death certificate, a Letter of Direction from the executor, and any probate documents you have.
No. The beneficiary and/or estate executor does not need to be a Wealthsimple client to receive assets from a deceased client's account. Wealthsimple will coordinate the payout directly.
Wealthsimple's Wealthsimple Estates Team can be reached by phone at 1-855-255-9038 and email at support@wealthsimple.com for questions throughout the claims process.
Sources
Data sourced from Wealthsimple primary sources (11 pages reviewed). How we research.
Wealthsimple Client Success
Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada
Wealthsimple Client Success
Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada
Wealthsimple Estates Team
Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada
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