What is Wealthica?
- Asked By
- Updated On:29-Nov-2022
- Replies:1
Short Answer
Wealthica is an effective money management app that is accessible to Canadians where you can track your cashflows, net worth, aids budgeting, and analyses your investment portfolio.
Detailed Answer
Wealthica: An Introduction
In earlier times, personal finances, cashflows, assets and liabilities were noted down in a diary, later we started entering them into excel sheets to plan our finances. Wealthica is a money management app that has dashboards that will consolidate our inflows, outflows, assets, and liabilities in a single screen. It was developed and established in 2015. Its Chief Executive Officer is Martin LeClair. Vezgo is its sister company that is an aggregation platform for cryptocurrencies.
Features offered by Wealthica
- Unlimited transaction history
- Your financial health on a single page
- Portfolio analysis and tracking
- Portfolio fee calculation
- Budgeting of individuals and families
- Apply for digital marketing
- You can export Google Sheets, Yahoo Finance, balance sheets and your
- Income Report
- Risk Tolerance determination
- It can be accessed by advisers to get insight and improve their advice.
- You can link your Wealthica account with your robo advisor account.
Alternatives of Wealthica in Canada
We have listed the top three alternatives for Wealthica in Canada:
Kubera
It is a money management app for Canadians that allows you to track your cashflows, ETFs, vehicles, houses, collectibles, art, web domains etc. It offers impressive analytics tools, estate planning tools, real-time information, insights, a safe deposit box, an interactive interface etc.
Wealthsimple
With Wealthsimle, you get access to a high interest cash account, robot advisor, hybrid bank accounts, manual trading account, tax assessment and filing, socially responsible investments, halal investments etc. However, it is more of a trading and investment platform than a money management app.
Pocketsmith
It is a money management app that was founded in 2008. If you sync your Pocketsmith account with your bank account, it automatically tracks your salary, inflows and outflows. With the history of your cashflows, you can forecast your future financial position. However, it does not track your assets and debts.
Wealthica: Conclusion
Using Wealthica makes your life easier by tracking your spending, saving and investment habits. Data is gold. With all this historical data, you can forecast and plan for your future.
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Discussion (0)
Mint is mainly used to track cashflows and budgeting, whereas, Wealthica is mainly used to track the performance of your assets such as bank accounts, properties, investment portfolios, cryptocurrencies etc.
Wealthica uses AWS, AES-256 encryption and TLS 1.2 technology to secure the data of its users. It applies two factor authentication on log in and can only read the data in your accounts. Hence, it is safe to use.
Visit the Wealthica site and sign up with basic details. Link all your bank accounts and investment accounts. The app will automatically sync all your details and will start tracking your financial status.
Wealthica offers three plans- The basic (free), Unlimited Connect ($50/year), and Premium Unlimited ($150/year). You can choose any plan based on your needs.
Wealthica Pro offers a range of features and add-ons that makes your investment tracking journey much better. See if Wealthica Pro is worth it.
The basic services and features are free of cost in Wealthica. However, the premium plan costs $11.99 per month and the pro plan costs $24.99 per month.
Yes, Wealthica is available for free use. Apart from that, they have 2 paid versions as well. If you feel like upgrading from the free version you can go for the paid ones.