The new product will allow users to submit their investment portfolio to be reviewed by Wealthsimple's team of registered Portfolio Managers.

Submitting your portfolio takes only a few minutes, followed by a confidential review with a Portfolio Manager. There is no obligation to sign up for Wealthsimple, and you'll receive actionable, non-biased advice on how to improve your portfolio.

"We believe investing should be simple, smarter, and low-cost for all Canadians," says CEO and Founder Michael Katchen. "Our new portfolio review feature will help Canadian investors make sure their money is in the right places, using key investment principles we advise our clients to follow."

The review is an objective evaluation of your portfolio across key dimensions that impact future performance; such as diversification, fees, taxes and past investment behaviours. The methodology is based on Nobel Prize-winning academic research.

"We're able to provide you with practical advice on where your portfolio can improve, in order to help your long-term financial goals," says Portfolio Manager David Nugent.

Wealthsimple Portfolio Review is introduced alongside the implementation of new CRM2 regulations in Canada, a disclosure requirement for financial institutions to provide more clarity around investment performance and fees.