Wealthsimple is now available across Canada.
The technology-driven investment manager has officially launched today in the Yukon, Northwest Territories, Saskatchewan, Nunavut, New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland.
Wealthsimple’s mission is to transform the financial services sector to ensure all Canadians regardless of net wealth or financial knowledge have access to smart, low-fee investing solutions.
“We are incredibly excited to now offer Wealthsimple from coast-to-coast,” said Michael Katchen, CEO and founder of Wealthsimple.
“Perfect for first time investors, we offer sophisticated investment strategies and personalized service that’s affordable. In fact, 80% of our clients are under 40 years old – the complete inverse of a traditional advisory practice.”
Since launching in September 2014, the company has already secured over 1,000 clients. Last month Wealthsimple received an investment of up to $30 million from Power Financial Corporation, which will help Power Financial target more millennials and other Canadians who are less likely to invest through traditional channels.
Wealthsimple constructs personalized portfolios based on an individual’s risk tolerance and uses only low-cost index funds across 10 asset classes. Every interaction can be completed online – simplifying the entire investment process. Investors can get started with a minimum investment of $5,000.