Fast-growing fintech backed by $50 million in funding from Power Financial Corporation group
TORONTO, ON and NEW YORK, NY--(Marketwired - January 31, 2017) - Wealthsimple, a leading online investment manager, is now available to users in the United States. Investors in all 50 states can create a personalized, diversified portfolio in minutes by going to wealthsimple.com or downloading the iOS or Android app.
Wealthsimple combines user-friendly digital tools and personal financial advice to make investing simple, accessible, affordable and personalized. Its award winning user experience makes smart investing available to everyone: there is no minimum account size, the first $5,000 is managed for free, it takes minutes to set up an account from a phone or desktop, and experts are available anytime to answer questions or give advice.
"Our mission is to help everyone grow their savings, no matter who they are or how much they have to invest," said Michael Katchen, founder and CEO of Wealthsimple. "We're really excited that we can now help people in the U.S. reach their financial goals through simple, smart, affordable investing."
Wealthsimple stands out from other financial services companies with its beautiful, intuitive digital tools and editorial content that tells human stories about money. Its website was awarded Best Financial Services Website in the world at the 2016 Webbys. Wealthsimple's approach of combining great technology with a human touch has resonated with young and first-time investors, and 85 percent of its clients are under the age of 45.
The company launched a new advertising campaign to support its international expansion; "Mad World" is directed by DGA Director of the Year Martin de Thurah, whose Under Armour commercial with Michael Phelps was named best spot of 2016 by Adweek. It stars Tony Revolori, best known as Lobby Boy from the Grand Budapest Hotel.
Wealthsimple has a partnership with the Power Financial group of companies, who have invested $50 million ($38 million USD) in capital to date. The Power Financial groups of companies manage over $1 trillion globally and have invested more than $125 million in emerging financial advice leaders.
"Everyone should have access to financial products and advice, and Wealthsimple has been successful at delivering these services to a new generation of investors in an innovative way," said Paul Desmarais III, Vice-President at Power Financial Corporation. "We are proud to support Wealthsimple's long-term growth as it expands to new markets globally."
In just over two years, Wealthsimple has become the leading online investing service in Canada, and has grown to serve more than 20,000 clients with $750 million (USD $570 million) in assets.
Wealthsimple is an online investment manager that combines user-friendly digital tools and personal financial advice to make smart, automated investing available to everyone. With no minimum account size and low fees, Wealthsimple makes investing simple, accessible, affordable and personalized. Available in the U.S. and Canada, Wealthsimple is founded by a team of financial experts and technology entrepreneurs, and backed by Power Financial Corporation (