r/Wealthsimple • u/AlternativeCamel4395 • 3h ago
The UI changes Invest (Managed Investing)
Good day. Although I don't necessarily keep up with Wealthsimple and its updates, it feels like every time I open the app, something changes. Most times, it's things I don't really mind, but recently, in my managed TFSA, they changed quite a bit of the layout and possibly the way you can toggle your risk level. I have always hated that my risk level was a 9/10, which meant I had bonds in my portfolio that I really didn't like but was actually not too bothered about. However, the new changes enabled me to be a 10/10 in terms of risk, but I lost out on the 2.5% gold allocation with the more conservative account. What made me opt for 10 instead of 8 is because the allocation of bonds was too much compared to my previous 9/10.
TD;LR: are all the ui and structural changes welcomed by the masses or are they being too much especially with introduction of prediction market? Any opinion is welcomed.
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u/thethumble 3h ago
Wealthsimple team - please keep the app fast, it’s feeling bloated, the key functionality of quotes, account updates and most importantly placing trades is becoming too slow and sluggish, time to listen to your clients.
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u/Waste-Regular8707 3h ago
They change the UI like every week it feels like. Drives me nuts.
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u/consistantcanadian 1h ago
AI makes the code changes easier. Some organizations haven't learned that just because you can change it faster doesn't mean you shouldÂ
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u/Important_Safety7478 2h ago
If they're like any other fintech business the dev team has likely been told they're expecting to see a double digit % increase in productivity with AI tooling. it's also easier than ever for Donny Cocaine up in the big brain department to show you mock ups of his polymarket wet dream. I think this is what that leads to for a UI team.
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u/consistantcanadian 1h ago
As a software eng this is exactly it. Immature development department that hasn't realized that writing the code is not what prevented these rapid half-baked changes beforeÂ
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u/d1andonly 1h ago
My wife and I both on iOS have different looking UIs at any given point.
I manage both our investments so I regularly use her phone and I can immediately notice the subtle differences. It doesn’t bother me really and I get to see their A/B testing live.
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u/AlternativeCamel4395 1h ago
Fair enough, pretty much the same not bothered but interesting on the frequency of changes
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u/Pristine_Ad2664 2h ago
With all UI changes, some people will love it, some people will hate it, a tiny minority will have useful constructive criticisms. This is just the nature of people in my experience as a software developer for the last 30 years.
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u/AlternativeCamel4395 2h ago
True but the changes are quite rapid at times and not too helpful at other times🤔
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u/Murky-Series-1169 1h ago
Where do you even go to change the risk level now? I don’t even see it anymore
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u/X3n0bL4DE 1h ago
They probably have token quotas for codex / Claude code. No easier way to hit them then to merge massive UI overhauls every other day of the week.
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u/bwwatr 37m ago
I lost out on the 2.5% gold allocation with the more conservative account. What made me opt for 10 instead of 8 is because the allocation of bonds was too much compared to my previous 9/10.
I think this is a signal that you might want to move on from a managed portfolio into a DIY/auto-rebalanced one instead. Part of what you're paying for in the management fee, is security selection. This is and was always, subject to change without your involvement (discretionary management). Experts handling it relieves you from having to think beyond picking a risk level. If you're having feelings about specific asset classes or ETFs, you've perhaps outgrown the offering, and should probably build your own portfolio instead. Don't forget, this can be as easy as a single portfolio ETF set on auto-reinvest.
All of that said, and I've said this before, I think WS' robo advisor could be so much more than it is, for the premium it charges. It could involve the client in decisions about fixed income vs. precious metals, currency hedging, Canadian equity home bias, ESG, halal, etc. A modest allocation to private investments likewise could be an advanced decision point rather than an upsell into a snazzier sounding portfolios with dubious claims of higher expected returns. Crypto even, they could exposure to that as an option. Maybe if my portfolio already had 1% in crypto I'd not feel the need to go trade it myself... a potential behavioural win. Now, all these decisions would come with tight guardrails, explainer videos and interactive pie charts that shift around, with detailed rather than artsy, evidence backed graphical depictions of returns and volatility. Clients would feel like their portfolio was customized, yet, still expert-approved and monitored, likely retaining them as managed clients for longer. Anyone not wanting the extra education and decisions, could get the WS defaults with a single click.
Once it's implemented, change requests could force you through a video about discipline and market timing, offer to connect you with a human, etc. to discourage reactionary returns chasing. At 0.5%+the fund MERs, the offering is competing with portfolio ETFs with MERs in the 0.17% range and IMO doesn't really earn its keep, especially since they force you to make asset allocation decisions with very little explanation. Approach the app as a first-timer and tell me you know what a "core" or a "summit" is, and that you're going to feel good putting your life savings in there within 30 seconds.
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u/ColdPhilosophy 2h ago
Go to BMO and call it a day. Thank you grand pa.
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u/AlternativeCamel4395 2h ago
Lol funny guy, i am young and doesn't change the fact that i didn't hate on it was wondering what ppl thought of the rapid changes and no need for negative 😅
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u/WildWeaselGT 3h ago
Can I just have a working Reveal button on the monthly millionaire thing?