Updated September 28, 2026 · BrokerCue Editorial Team
Empower Personal Dashboard vs Wealthsimple
Where Empower Personal Dashboard and Wealthsimple differ
| Compare |  Empower Personal Dashboard |  Wealthsimple |
|---|---|---|
| Management fee | 0%Lower | 0.5% |
| Minimum investment | $0 | CA$1 |
| Account types | IRA | Joint, Corporate |
| Portfolio types | ETF, Cash | ETF, Cash, CryptoCovers more |
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Key differences
- Management fee is lower at Empower Personal Dashboard: 0% vs 0.5%.
- Account types: only Empower Personal Dashboard offers IRA.
- Account types: only Wealthsimple offers Joint, Corporate.
- Portfolio types: only Wealthsimple offers Crypto.
- Support channels: only Wealthsimple offers Chat.
Our verdict on each
Empower Personal Dashboard
Empower Personal Dashboard suits US savers who want a managed retirement account without a fee attached. The management fee is 0% and the minimum investment is $0, so the cost side is as light as it gets. It fits people who would rather set it and leave it than trade.
Wealthsimple
Wealthsimple serves Canadian beginners and experienced investors who want self-directed trading and managed portfolios in a single app. The minimum deposit is CAD 0, the stock trade fee is CAD 0 and the account fee is CAD 0, while the UK is not among its markets (stocks, etfs and options).
Score breakdown
| Area | Empower Personal Dashboard | Wealthsimple |
|---|---|---|
| Cost | 9.9HigherManagement fee 0%, account fee $0 and minimum investment $0 sit at the free end of costs. | 9.6Minimum deposit of CAD 0, stock trade fee of CAD 0, options contract fee of CAD 0 and account fee of CAD 0. |
| Offer | 8.8 | 9.2HigherManaged portfolios charge 0.5% and start at CAD 1, with cash earning 1.25%. |
What it costs in practice
10,000 invested for a year
Empower Personal Dashboard
0
0% of 10,000
Wealthsimple
50
0.5% of 10,000
Empower Personal Dashboard comes out 50 lower in this example.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
How they place
| Ranking | Empower Personal Dashboard | Wealthsimple |
|---|---|---|
| Stock and ETF brokers | 12 of 490 | 53 of 490 |
| Robo-advisors | 3 of 153 | 15 of 153 |
What we checked
Empower Personal Dashboard
- empower.com: 7 facts, checked September 26, 2026
Wealthsimple
- wealthsimple.com: 6 facts, checked September 26, 2026
- help.wealthsimple.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Empower Personal Dashboard | Wealthsimple |
|---|---|---|
| Legal entity | Empower Advisory Group, LLC | Wealthsimple Technologies Inc. |
| Headquarters | United States | Canada |
| Support channels | Email, Phone, Help centre | Chat, Email, Phone, Help centreCovers more |
Brokers
| Fact | Empower Personal Dashboard | Wealthsimple |
|---|---|---|
| Minimum deposit | $0 | CA$0 |
| Stock trade fee | $0 | CA$0 |
| Account fee | $0 | CA$0 |
| Markets | Stocks, ETFs, Funds | Stocks, ETFs, Options, Crypto, Futures |
| Features | Mobile app | Crypto, Fractional shares, Mobile appCovers more |
| Pricing model | Commission free, Low feesCovers more | Commission free |
| Audience | Not confirmed | Beginners, Experienced |
| Margin rate | Not confirmed | 3.95% |
| Options contract fee | Not confirmed | CA$0 |
| Interest on cash | Not confirmed | 1.25% |
Where each stands against the rest
| Fact | Empower Personal Dashboard | Wealthsimple | Median |
|---|---|---|---|
| Management fee | 0%lowest quarter | 0.5%above the median | 0.35% |
Median across 67 listed brokers.
Pros and cons
Empower Personal Dashboard
Pros
- Management fee of 0% and an account fee of $0, so nothing leaves the balance each year.
- Minimum investment of $0 and a minimum deposit of $0, so a small first contribution is enough.
- Stock trades cost $0 across stocks, etfs and funds, with managed portfolios in ETF and cash styles.
Cons
- The account type is an IRA, so it is a retirement account rather than a general dealing account.
- Markets stop at stocks, etfs and funds, with no crypto, options or forex added on.
- Support runs on email, phone and help centre, so there is no live chat for quick questions.
Wealthsimple
Pros
- Stock trade fee of CAD 0 on a commission-free model across self-directed accounts
- Minimum deposit of CAD 0, so an account opens with a small sum
- Managed portfolios charge a management fee of 0.5% and start at CAD 1
Cons
- The UK and Europe are not among its markets (stocks, etfs and options), so a reader there would need a different broker
- Managed portfolios carry a management fee of 0.5% on top of CAD 0 self-directed trades
- Margin is available at a margin rate of 3.95%, which amplifies losses on a levered position
Who each suits
Empower Personal Dashboard
Who it suits
- US savers building a retirement account who want it run for them at no annual charge.
- People who prefer ETF and cash portfolios over picking their own shares.
- Long-term investors content with a conventional asset range.
Who should look elsewhere
- eToro, where the managed portfolios start at $500.
- Vivid Standard, which charges a management fee of 0.5% to 1.5%.
- Axos Invest, where managed portfolios start at $100.
Wealthsimple
Who it suits
- Canadian beginners putting money away in a managed portfolio
- Canadian investors buying fractional shares in a mobile app
- Experienced traders wanting stocks, ETFs, options, crypto and futures in a single account
Who should look elsewhere
- UK or EU readers, who should look at CFI, eToro or Vantage instead
- Traders who want a forex and CFD range, since stocks, etfs and options omits both
- Anyone seeking an ISA, SIPP or similar tax-sheltered wrapper, since neither is among its account types (joint and corporate)
Questions about each
Empower Personal Dashboard
What does Empower Personal Dashboard charge?+
The management fee is 0% and the account fee is $0, so nothing is taken out of the balance for holding or running the account. Trading is separate, and the stock trade fee is $0, which keeps running costs thin overall.
Is there a minimum to get started?+
The minimum investment is $0 and the minimum deposit is $0, so you can begin with a small amount rather than waiting for a large balance. That makes it a practical first step for anyone building a retirement pot gradually.
Wealthsimple
What does it cost to trade stocks at Wealthsimple?+
The stock trade fee is CAD 0 and the account fee is CAD 0. Options contracts carry a fee of CAD 0. Cash earns interest of 1.25%. Managed portfolios are the part that still charges, at a management fee of 0.5%.
Is there a minimum deposit or account fee?+
The minimum deposit is CAD 0 and the account fee is CAD 0, so opening an account costs nothing. Managed portfolios ask for a minimum investment of CAD 1. Brands across the site typically ask €4.64 to start.
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