Wealthsimple Inc.

IndustryFinancial services, online investment management
FoundedSeptember 2014; 7 years ago
FounderMichael Katchen, (CEO)
HeadquartersToronto, Ontario, Canada
ServicesRobo-advisor, stockbroker, electronic trading platform
OwnerPower Corporation of Canada (70.1%)
  • Products and services
    • Trading
      • Wealthsimple Trade allows to buy and sell various individual stocks and exchange-traded funds (ETFs) on major Canadian and U.S. exchanges.
      • It offers a stock and ETF trading account with zero-commission fees in the U.S. and Canada.
      • Wealthsimple Crypto is the company's platform for buying and selling several cryptocurrencies,
    • Invest
      • Wealthsimple Invest is the company's automated investing service, which manages users' investments via a personalized portfolio of low-fee exchange-traded funds.
    • Wealthsimple combines a robo-advisor platform with access to online live advisors.
    • There is no account minimum required and no charge per transaction.
    • An annual fee is charged ranging from 0.4% to 0.5% based on account size.
    • In September 2018, the company started offering a micro-investing service called Roundup, which automatically rounds up purchases and invests the extra change into one's Wealthsimple investment account.
    • Cash
      • Wealthsimple Save, a high-interest savings account.
      • Wealthsimple Cash, a peer-to-peer cash transfer platform.
    • Tax
      • Wealthsimple Tax (formerly SimpleTax) is an all-in-one tax preparation and filing platform.
      • In September 2019, Wealthsimple acquired SimpleTax, a Canadian tax software company originally launched in 2012.

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