Wealthsimple launched today in Alberta, Manitoba, and Quebec, expanding its current operations outside of Ontario and British Columbia.
A Techvibes 20 company, Wealthsimple hopes to change the traditional investment landscape in Canada by ensuring every investor, regardless of net worth or financial knowledge, has access to smart, low-fee investing solutions.
A technology-driven investment manager, Wealthsimple portfolios are customized based on an individual’s risk tolerance and built with low-cost index funds across 10 asset classes.
Investors can get started with $5,000 and the process is completed online.
“All of us at Wealthsimple are incredibly excited to bring our service to more Canadians,” said Michael Katchen, CEO and founder of Wealthsimple.
“We want to make wealth management accessible and simple for every Canadian. We have brought together some of the top minds in technology and paired them with financial industry heavy weights to create a product that offers time-tested investment strategies and personalized advice, all at one of the lowest fees in Canada. It’s the way investing should be.”
Wealthsimple has raised $1.9 million in seed capital from industry icons including Joe Canavan, Roger Martin, David Ossip, Dan Debow, and Impression Ventures – a new Canadian Venture Capital firm.