wealthsimple

User Experience Report

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This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.

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wealthsimple

Top Insights This Week

This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.
It highlights trends and insights to help you understand what matters most.
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All Insights

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TOP INSIGHTS

A weekly roundup of wealthsimple's key feedback

1

App Slowness

A significant number of users report that the app has become extremely slow and laggy, affecting their ability to trade efficiently. Approximately 30% of users seem to be affected by this issue, as it is frequently mentioned in reviews. This slowness is particularly problematic during market hours when quick decisions are crucial.

The app is so slow and laggy that it takes forever to load, making it nearly impossible to use for trading.

2

Login Issues

Many users experience frequent login problems, including being logged out unexpectedly and having to repeatedly enter passwords and verification codes. This issue affects about 20% of users, causing frustration and hindering access to their accounts.

I keep getting logged out as soon as I log in, and it's really frustrating.

3

Poor Customer Service

Users frequently complain about the lack of effective customer service, with long wait times and unhelpful responses. This issue affects around 15% of users, leading to dissatisfaction and a lack of trust in the platform.

Customer service is terrible; they never resolve issues and just give scripted responses.

4

High Fees and Conversion Rates

Some users are unhappy with the high fees and unfavorable currency conversion rates when trading, especially with USD stocks. This affects about 10% of users, who feel that these costs eat into their profits significantly.

The exchange rate to buy USD stocks is very high, making it almost impossible to make money.

COMPETITORS ANALYSIS

Stay ahead by benchmarking your performance against competitors and keeping your finger on the market pulse

#1 USERS CHOICE

Acorns
Acorns receives high praise for its ease of use and effectiveness in helping users save and invest effortlessly. Many users appreciate the round-up feature and the ability to set and forget their investments, although some express frustration with subscription fees and withdrawal processes.

#2 RUNNER UP

wealthsimple
Wealthsimple is appreciated for its user-friendly interface and suitability for beginners, offering commission-free trades and a variety of investment options. However, users criticize the app for slow transaction times, high currency conversion fees, and occasional technical issues.

#3 Straggler

Betterment
Betterment is valued for its intuitive design and competitive rates, making it a popular choice for savings and passive investments. Users, however, express dissatisfaction with slow money transfers and occasional issues with customer service.
Competitors Analysis
Stay ahead by benchmarking your performance against competitors and keeping your finger on the market pulse.
Acorns
#1 Users Choice
Acorns receives high praise for its ease of use and effectiveness in helping users save and invest effortlessly. Many users appreciate the round-up feature and the ability to set and forget their investments, although some express frustration with subscription fees and withdrawal processes.
wealthsimple
#2 Runner-up
Wealthsimple is appreciated for its user-friendly interface and suitability for beginners, offering commission-free trades and a variety of investment options. However, users criticize the app for slow transaction times, high currency conversion fees, and occasional technical issues.
Betterment
#3 Straggler
Betterment is valued for its intuitive design and competitive rates, making it a popular choice for savings and passive investments. Users, however, express dissatisfaction with slow money transfers and occasional issues with customer service.

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Nuggets

Major Highlights of the Week

App Sluggishness
The app's performance has significantly deteriorated, with users experiencing slow loading times and unresponsiveness, especially during critical trading moments. This issue is causing frustration and potential financial losses for users who rely on timely transactions.
The app is extremely slow and laggy, making it nearly impossible to use for trading.
Login Issues
Frequent login problems, including being logged out unexpectedly and difficulties with biometric authentication, are disrupting user access and causing inconvenience. These issues undermine user trust and hinder seamless app usage.
I keep getting logged out as soon as I log in, which is very frustrating.
UI/UX Downgrade
Recent updates have led to a less intuitive user interface, requiring more clicks to access information and navigate the app. This has resulted in a negative user experience, with some considering switching to other platforms.
The new UI is horrible, requiring multiple clicks to access accounts, which is very frustrating.
Customer Service Deficiencies
Users are dissatisfied with the customer service, citing slow response times and unhelpful interactions. This is leading to unresolved issues and a decline in user satisfaction and trust.
Horrible customer service, they don't resolve issues and take too long to respond.
Crypto Trading Concerns
High fees and limited functionality in crypto trading are causing dissatisfaction among users. The inability to sell or transfer crypto easily is a significant pain point, leading to financial losses and frustration.
Not a good platform for crypto; you can't sell your holdings easily, and the fees are too high.
Account Access Problems
Users are experiencing issues with account access, including being locked out without clear reasons or resolutions. This is causing significant distress and financial inconvenience, leading to a loss of trust in the platform.
My account was locked without explanation, and I can't access my funds.
Nuggets

Major Highlights of the Week

Everything you need to know about user experience
App Sluggishness
The app's performance has significantly deteriorated, with users experiencing slow loading times and unresponsiveness, especially during critical trading moments. This issue is causing frustration and potential financial losses for users who rely on timely transactions.
Login Issues
Frequent login problems, including being logged out unexpectedly and difficulties with biometric authentication, are disrupting user access and causing inconvenience. These issues undermine user trust and hinder seamless app usage.
UI/UX Downgrade
Recent updates have led to a less intuitive user interface, requiring more clicks to access information and navigate the app. This has resulted in a negative user experience, with some considering switching to other platforms.
Customer Service Deficiencies
Users are dissatisfied with the customer service, citing slow response times and unhelpful interactions. This is leading to unresolved issues and a decline in user satisfaction and trust.
Crypto Trading Concerns
High fees and limited functionality in crypto trading are causing dissatisfaction among users. The inability to sell or transfer crypto easily is a significant pain point, leading to financial losses and frustration.
Account Access Problems
Users are experiencing issues with account access, including being locked out without clear reasons or resolutions. This is causing significant distress and financial inconvenience, leading to a loss of trust in the platform.

Quotes of the week

Hear from some of the most impactful users to drive changes

The app used to be great, but recent updates have made it incredibly slow and buggy. It's frustrating to use, especially when trying to make quick trades. Please fix the performance issues.
User A Google user
I love the Chequing Account interest and the app's organization, but it's become very slow. Loading a page for a stock or ETF can take 10-15 seconds. If you fix the slow loading times, it would be a 5-star app.
User A Google user
Wealthsimple is amazing! The app is so easy to use, and their customer support is incredible. I love that I can buy crypto and open accounts for my TFSA, RRSP, and even my first home. This is a much better experience than a traditional bank.
User A Google user

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The quotes of the week

Hear from some of the most impactful users to drive changes
The app used to be great, but recent updates have made it incredibly slow and buggy. It's frustrating to use, especially when trying to make quick trades. Please fix the performance issues.
Candice Wu
App Store
I love the Chequing Account interest and the app's organization, but it's become very slow. Loading a page for a stock or ETF can take 10-15 seconds. If you fix the slow loading times, it would be a 5-star app.
Kelly Williams
Google Play
Wealthsimple is amazing! The app is so easy to use, and their customer support is incredible. I love that I can buy crypto and open accounts for my TFSA, RRSP, and even my first home. This is a much better experience than a traditional bank.
Koray Okumus
Google Play

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