Wealthsimple, Canada’s top digital investment platform, has introduced an exciting promotion for high-value clients and a premium rewards program for long-term savers. Wealthsimple’s latest initiative offers Apple iPhone 16 models and MacBook Pro options to clients meeting specific deposit milestones, alongside a range of premium perks accessible as customers continue investing. Here’s a breakdown of these exclusive rewards and what it takes to qualify.
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Wealthsimple’s Apple Device Promo: Requirements and Rewards
As part of its promotional push, Wealthsimple is offering select Apple products to clients with substantial investments. Here’s how the milestone rewards are structured:
- $100,000–$299,999.99 Deposits: Customers in this tier can choose between an Apple iPhone 16 (128GB) valued at C$1,129 or an Apple MacBook Air (13-inch, M2 chip, 8-core GPU, 256GB SSD) priced at C$1,299.
- $300,000–$499,999.99 Deposits: Investors depositing between $300,000 and $500,000 qualify for the Apple iPhone 16 Pro (128GB) (MSRP C$1,449) or the Apple MacBook Pro (14-inch, M3 chip, 8-core CPU, 10-core GPU, 512GB SSD) worth C$2,099.
- $500,000+ Deposits: For those depositing half a million or more, Wealthsimple is offering either the Apple iPhone 16 Pro Max (1TB), which retails at C$2,349, or the high-performance Apple MacBook Pro (14-inch, M3 Pro chip, 11-core CPU, 14-core GPU, 512GB SSD), valued at C$2,699.
This promotion is equivalent to receiving about 1% of the deposit amount as a reward value.
Eligibility Requirements and Terms
To secure these rewards, participants must:
- Maintain Minimum Balance: Wealthsimple requires that the qualifying balance remain above the milestone threshold for at least 365 days following the initial deposit period.
- Repayment Clause: If the balance drops below the required threshold, clients may be asked to repay the cash value of the device unless the balance is restored to meet the required minimum.
The reward selection process opens on January 15, 2025, allowing qualified clients to choose their Apple product. Notably, this offer applies to all individual and joint Wealthsimple accounts, excluding GRSPs and LIRAs.
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Wealthsimple Rewards Program: Premium Perks for High-Value Clients
Beyond the Apple device promo, Wealthsimple has introduced a rewards program for clients who maintain significant investments. Designed to provide more than just investment growth, these perks reflect Wealthsimple’s emphasis on customer loyalty and added value:
- Milestone-Based Rewards: Clients unlock the following perks as they meet deposit milestones:
- $200,000: Unlocks a first reward.
- $300,000: Unlocks a second reward.
- $400,000: Unlocks a third reward.
Each reward is available for 12 months, with the option to retain the same perks or switch to new ones as clients continue investing. Here’s the full list of available rewards:
- Uber One: Free membership offering discounts on rides and food delivery.
- Strava Premium: A one-year subscription for fitness tracking and goal-setting.
- DragonPass: Four complimentary airport lounge passes.
- Headspace: Access to guided meditations and mindfulness tools.
- The Globe and Mail: A full year of digital news access.
- DINR Premium: Exclusive dining reservations and experiences.
- Maple: One virtual doctor visit plus discounts on additional specialist services.
- Gigs: 10GB international data coverage with an eSIM across 135+ countries.
- Peggy: Art consultation and auction previews with credits toward purchases.
What Does This Mean for Canadian Investors?
This program is a notable development in the Canadian fintech space, with Wealthsimple offering high-value incentives to attract and retain significant investments. For affluent clients, this program combines luxury perks with practical incentives to maintain long-term investments.
Key Takeaways: Is Wealthsimple’s Program Right for You?
Wealthsimple’s new rewards are tailored for high-net-worth individuals who can commit substantial funds over the long term. With the promise of exclusive Apple products and premium rewards, this program is ideal for those looking to maximize both investment growth and access to exclusive perks. However, investors should consider the balance requirements and potential repayment conditions before opting in.
This initiative signals Wealthsimple’s intent to compete with traditional wealth management firms by offering lifestyle benefits, adding a new dimension to digital investing in Canada. For investors seeking both convenience and exclusivity, Wealthsimple’s reward offerings may provide a compelling reason to consider a Wealthsimple account for substantial investments.
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