Mozaic vs Wealthsimple: aggregator or all-in-one?

People search "Wealthsimple vs Mozaic" expecting a head-to-head between two rival apps. It is not really that. Wealthsimple is a Canadian financial institution: a self-directed brokerage, a managed robo-advisor, a spend-and-save account, and a tax filing product, all under one login. Mozaic is a read-only aggregator that pulls your accounts together from every institution you use, so you get one net-worth number in CAD. The two overlap on exactly one screen, the "here is what I own" dashboard, and diverge everywhere else.

This page is written by Mozaic, so the disclosure is upfront. We are not trying to talk you out of Wealthsimple. Most of our users hold Wealthsimple accounts and love them, and Mozaic connects to Wealthsimple to read those holdings in. The real question this page answers is narrower: is the Wealthsimple app on its own enough to see your whole financial life, or do you keep money in more than one place and want a layer that ties it together?

The one-paragraph version

Use Wealthsimple (and skip Mozaic) if essentially everything you own already lives inside Wealthsimple: your investing, your cash, your registered accounts. In that case the Wealthsimple app already shows your whole picture and a second tool adds little.

Add Mozaic if you hold accounts in more than one place: a Wealthsimple portfolio plus a bank RRSP, a workplace pension, a Questrade account, a mortgage, and a couple of credit cards. Mozaic reads all of them, Wealthsimple included, into one CAD net-worth view with cash flow and registered-account contribution room on top. It is a layer on your accounts, not a replacement for them.

Feature comparison

Where Wealthsimple is the better tool

It actually holds and grows your money. This is the whole point and it is not a small one. Wealthsimple is a real brokerage and robo-advisor: you buy stocks and ETFs, run a managed portfolio, hold cash, and file taxes. Mozaic does none of that. If you are choosing where to invest, Mozaic is not on that list at all; Wealthsimple is a strong, low-cost Canadian option.

Low-friction investing and low fees. Wealthsimple's self-directed trading has no per-trade commission, and the managed option is a low, transparent management fee. For a Canadian who wants one clean place to invest without a bank-owned brokerage's complexity, it is genuinely good.

One login if your life fits inside it. If your investing, cash, and registered accounts all live at Wealthsimple, the app already shows your whole net worth. There is nothing for an aggregator to add, and a second subscription would be waste.

A native mobile app. Wealthsimple ships polished native iOS and Android apps. Mozaic in 2026 is a desktop-first web app that works on phones but is not a native app.

Where Mozaic is the better tool

It sees the accounts Wealthsimple can't. Wealthsimple shows Wealthsimple. Mozaic shows everything: your Wealthsimple portfolio read in through SnapTrade, plus the RRSP at your bank, the workplace pension, the Questrade or IBKR account, the mortgage, and the credit cards. If you keep money in more than one place, only an aggregator gives you the real total, and the Wealthsimple app is not one.

Per-holding detail across brokers. Mozaic pulls individual holdings, cost basis, and time-weighted return out of Wealthsimple, Questrade, Interactive Brokers, Robinhood, Fidelity, Schwab, and the Canadian bank-owned direct-investing brokerages, then compares performance against the S&P/TSX 60 and the S&P 500. You see one consolidated portfolio, not one portfolio per app.

Contribution room across institutions. Mozaic treats CELI, REER, FHSA, REEE, and CRI as native account types and tracks contribution room across every institution at once. Wealthsimple offers these account types, but only for the accounts you hold there; it can't tell you your total room if half your registered money sits at a bank.

Cash flow across every bank and card. Mozaic categorizes transactions from all your connected banks and cards, so cash flow and net worth are one product. Wealthsimple's spending view covers the Wealthsimple cash account, not the accounts you hold elsewhere.

Read-only, so you never move a thing. Mozaic connects through Plaid and SnapTrade in read-only mode. It sees balances and transactions and cannot trade or withdraw. You keep every account where it is, Wealthsimple included, and just read them into one view.

Pricing, side by side

These prices are for different jobs, so comparing the raw numbers is misleading. The Wealthsimple app is free to use. Wealthsimple earns revenue on managed-portfolio management fees, currency conversion on USD trades, and product spreads, so "free" means the cost is embedded in the products, not that there is no cost. That is normal for a brokerage and not a criticism.

Mozaic is $99 CAD per year, flat, for the aggregation-and-tracking layer, and it never charges a management fee because it never manages money. If everything you own is at Wealthsimple, you do not need Mozaic and should not pay for it. If you hold accounts in several places, $99 CAD a year to see them as one picture, in CAD, is the trade. The full pricing page is at /pricing.

Security and privacy

Both are Canadian and both take security seriously. Wealthsimple is a regulated institution that custodies your assets. Mozaic holds no assets at all; it connects read-only through Plaid and SnapTrade, so it can see accounts but cannot move money. Mozaic runs in Google Cloud's Montréal region and is subject to PIPEDA federally and Quebec Law 25 provincially. The full Mozaic security posture is at /security.

Using them together

The practical recommendation for most people is to use both. Keep investing at Wealthsimple if you like it, then connect that Wealthsimple account to Mozaic so it shows up beside everything else you own. The connection is read-only and takes a few minutes. The step-by-step, plus what Mozaic can and can't pull from Wealthsimple, is on the dedicated connect Wealthsimple to Mozaic page.

Where this comparison stands

Most "X vs Y" pages are written by one of the products and conclude that the writer wins on every axis. This one can't, because Wealthsimple and Mozaic aren't the same kind of tool. Wealthsimple is a good place to invest and it is not going anywhere. Mozaic is the layer that shows your Wealthsimple accounts next to everything else you own. If you only bank and invest in one place, use Wealthsimple and save the $99. If your money is spread out, that is exactly the problem Mozaic exists to solve, and the 14-day trial takes no card.

For more on tracking a multi-brokerage portfolio, see tracking multiple brokerage accounts in Canada, and the broader comparisons hub indexes every head-to-head, including Monarch Money and Wealthica. If you want a dedicated portfolio view, the investment tracker for Canada page covers that.