🇨🇦 Aurum vs Wealthsimple

Wealthsimple is great for investing. Less so for budgeting.

Wealthsimple has built something genuinely good for Canadians who want to invest. But it wasn't designed to track your daily spending, manage subscriptions, or tell you how much TFSA room you have left when half your contributions sit at another bank. That's where Aurum comes in.

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Aurum vs Wealthsimple — the detail

Does Wealthsimple track contribution room across all my accounts?

Wealthsimple tracks contribution room for accounts you hold with Wealthsimple — your Wealthsimple TFSA, RRSP, or FHSA. If part of your TFSA sits at TD, or you contributed to an RRSP at RBC before opening a Wealthsimple account, those amounts aren't part of Wealthsimple's room calculation. The number the app shows you is partial by definition. Aurum tracks every contribution you log against your full CRA-confirmed (or auto-calculated) lifetime room, regardless of which institution the dollars actually live in. That's the difference between knowing your Wealthsimple room and knowing your real room.

Does Wealthsimple categorize spending or set monthly budgets?

No. Wealthsimple shows you account balances and investment performance, not where your money went. There's no spending breakdown by category, no monthly category limits, no recurring-bill detection, and no subscription tracking. It's an excellent investing app that happens to surface a chequing balance — but it isn't a tool for understanding monthly cash flow or for catching subscriptions you forgot about. For that side of the picture, Aurum is built specifically around budgeting and recurring-transaction detection.

Is Wealthsimple a budgeting app or a personal-finance app?

Wealthsimple is not a budgeting app. The team has built one of the best Canadian investing experiences available — low-fee ETFs, automated portfolios, fast cash transfers — but day-to-day budgeting has never been part of the product's focus. For Canadians who want investing at Wealthsimple and budgeting plus contribution-room tracking somewhere built for it, Aurum is designed to be the second app you check daily. The two complement each other rather than compete.

Aurum vs Wealthsimple — when do you use which?

These aren't competing products. Use Wealthsimple to invest. Use Aurum to track your spending, your budgets, your subscriptions, and your full contribution room across every institution you hold accounts at. Most Aurum users keep their TFSA or RRSP at Wealthsimple and use Aurum to make sure they haven't accidentally over-contributed when another bank account is also in play. Aurum's blog even recommends Wealthsimple as a Canadian investing platform — the referral disclosure is at the top of that post.

Side by side

Wealthsimple vs Aurum

FeatureWealthsimpleaurum

CanadianYesYes

PriceFree (investing)$8/mo · $69/yr

TFSA room (all institutions)Wealthsimple TFSA onlyYes

RRSP room (all institutions)Wealthsimple RRSP onlyYes

FHSA room (all institutions)Wealthsimple FHSA onlyYes

Over-contribution warnings across banksNoYes

Contribution deadline remindersPartialYes

Spending categorizationNoYes

Budget trackingNoYes

Subscription trackingNoYes

Multi-account viewWealthsimple onlyYes

Net worthWealthsimple accounts onlyComing soon

Frequently asked

Aurum vs Wealthsimple — common questions

Can Wealthsimple track my full TFSA contribution room?

Wealthsimple tracks only the portion of your TFSA contribution room that flows through Wealthsimple itself. Contributions made to TFSAs at other banks are not visible to Wealthsimple's calculation.

Does Wealthsimple have budgeting features?

No. Wealthsimple does not currently offer budgeting, spending categorization, or subscription tracking. It is an investing-first product.

Can I use Wealthsimple and Aurum together?

Yes. Many Aurum users invest with Wealthsimple and use Aurum alongside it to track total contribution room across all institutions, manage spending, and surface subscriptions.

Early access

Ready for something better?

Aurum is currently in early access. Join the waitlist and be the first to know when we open the doors.

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