Author Topic: Wealthica: A Canadian equivalent of Personal Capital  (Read 4217 times)

EfficiencyNerd

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Wealthica: A Canadian equivalent of Personal Capital
« on: June 25, 2018, 08:48:21 AM »
I don't think anyone has posted about www.Wealthica.com yet on these forums, forgive me if it's been shared already... but since I moved to Canada I've been looking for an equivalent to Personal Capital for tracking investments, and this morning finally think I've found what I've been looking for. Wealthica seems to be very little-known at this point, though it has existed for a few years and recently surpassed tracking $1 Billion CAD in accounts. For those of you worried about giving them your login to various accounts, they do use read-only APIs where they exist (which I know Questrade has, but I'm not sure beyond that).

I can't say I've thoroughly explored the platform much as of yet, but it seems very similar to what Personal Capital provides in the US. There is also a decent review here: https://www.genymoney.ca/wealthica-review-the-canadian-version-of-personal-capital/

Best of all, it's completely free.

Cheers!

EfficiencyNerd

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Re: Wealthica: A Canadian equivalent of Personal Capital
« Reply #1 on: June 25, 2018, 09:27:27 AM »
@EfficiencyNerd is it sort of as though Personal Capital and Mint combined?

No, not quite, as it doesn't seem to link regular bank accounts... it seems to be just geared towards investment accounts, and tracking change over time, investment gains etc. Mint does some of this but not nearly as well. Wealthica was able to pull in one high-interest savings account I have but not my chequing account. So it's not a full picture of net worth, just investments (and any assets/liabilities you add manually, such as house, car, mortgage, etc)
« Last Edit: June 25, 2018, 09:29:11 AM by EfficiencyNerd »

DVAS

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Re: Wealthica: A Canadian equivalent of Personal Capital
« Reply #2 on: August 22, 2019, 01:07:30 PM »
Any update on using wealthica? I am very interested but would appreciate hearing of others' experiences.

frugledoc

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Re: Wealthica: A Canadian equivalent of Personal Capital
« Reply #3 on: August 22, 2019, 01:16:33 PM »
This thread smells fishy

EfficiencyNerd

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Re: Wealthica: A Canadian equivalent of Personal Capital
« Reply #4 on: August 22, 2019, 01:22:35 PM »
Any update on using wealthica? I am very interested but would appreciate hearing of others' experiences.

I've continued using it and like it well enough. I recently came across a killer custom addon someone made that MUCH improves the graphs and visual stats etc, which you can add to your own page via instructions here:

https://github.com/mani-coder/wealthica-portfolio-addon

Looks like the dev did a great job with it. I'd been contemplating building something like this myself but never got around to it... looks like my procrastination paid off :)


This thread smells fishy

Not sure what you mean, care to elaborate?

MustacheAndaHalf

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Re: Wealthica: A Canadian equivalent of Personal Capital
« Reply #5 on: August 22, 2019, 11:41:34 PM »
Although I can't speak for frugledoc, he probably thinks this thread is advertising.  He probably suspects you're a shill for this new company - all positive comments, and no negative comparisons at all (e.g., it's better than Mint).

But although EfficiencyNerd has only ~40 posts, it looks like his account has been around for years.  And posts like this look like the exception in his history, so I would say this isn't a shill thread.  It's just overly enthusiastic about a new financial website.

It would help if the thread was more balanced, though, so people know the negatives of this new company's product.  What would someone miss about Mint?  What are the criticisms?

frugledoc

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Re: Wealthica: A Canadian equivalent of Personal Capital
« Reply #6 on: August 23, 2019, 01:19:50 AM »
Although I can't speak for frugledoc, he probably thinks this thread is advertising.  He probably suspects you're a shill for this new company - all positive comments, and no negative comparisons at all (e.g., it's better than Mint).

But although EfficiencyNerd has only ~40 posts, it looks like his account has been around for years.  And posts like this look like the exception in his history, so I would say this isn't a shill thread.  It's just overly enthusiastic about a new financial website.

It would help if the thread was more balanced, though, so people know the negatives of this new company's product.  What would someone miss about Mint?  What are the criticisms?

It was mainly the fact that DVAS only has one post

EfficiencyNerd

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Re: Wealthica: A Canadian equivalent of Personal Capital
« Reply #7 on: August 23, 2019, 08:25:05 AM »
Although I can't speak for frugledoc, he probably thinks this thread is advertising.  He probably suspects you're a shill for this new company - all positive comments, and no negative comparisons at all (e.g., it's better than Mint).

But although EfficiencyNerd has only ~40 posts, it looks like his account has been around for years.  And posts like this look like the exception in his history, so I would say this isn't a shill thread.  It's just overly enthusiastic about a new financial website.

It would help if the thread was more balanced, though, so people know the negatives of this new company's product.  What would someone miss about Mint?  What are the criticisms?

Ah, these are all fair points.

I was fairly enthusiastic because I was excited to have found a new way to track all investment accounts in one place for Canadians. I still use Mint to track all my accounts and total net worth. Unfortunately, Mint's analytics etc are incredibly lacking specifically for investment accounts. I would also use Personal Capital because I really like the graphs specific to investments that Personal Capital provides BUT Personal Capital does not connect to any Canadian accounts. Therefore I've been looking for something else for quite a while (and hence my enthusiasm at having found something). My apologies if I used my optimism gun too much for your liking.

I didn't mention Mint because Wealthica is not really trying to take the place of Mint in my mind... it doesn't even connect to any bank accounts, only accounts it deems as investments (although it did pull in my high-interest savings account with EQ Bank).

Downsides would be that Wealthica is still fairly limited, and doesn't show nearly as much detail as Personal Capital would. They also don't seem to be improving it much and it's been fairly stagnant. The dev addon someone created (posted above) adds some nice graphs which (for me) improves it's overall usefulness. Although I'm not sure it's limited-ness is a downside, because there isn't really anything else that even tries to do this for Canadians.

I suppose if you were scared that your data was going to be hacked, that would be a downside. They do seem to use access keys/codes instead of actual logins where available though (this is at least true for Questrade, not sure about others).

But the upside to me is that there really isn't anything I've found that does any of this aggregation of investment data in Canada (other that Mint, which for investment accounts doesn't show me squat).

I can't say much about user DVAS, other than it wasn't me; and you're either going to believe me or you're not. I started this topic over a year ago and have no reason to resurrect it now. I posted in case any other Canadians were looking for similar software, and when basically no one responded I let it go. Perhaps DVAS was searching for reviews of Wealthica and has had no reason to create an account until now.
« Last Edit: August 23, 2019, 08:33:11 AM by EfficiencyNerd »

frugledoc

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Re: Wealthica: A Canadian equivalent of Personal Capital
« Reply #8 on: August 23, 2019, 09:25:00 AM »
Sorry, you are obviously genuine. Apologies!