Wealthsimple’s robo-advisor services are now available in the U.K.
Earlier this year, the Toronto-based company tested an invitation-only trial version of the product in the U.K.
“The response we’ve seen from our early testers in the U.K. has been pretty remarkable, and speaks to the demand for a product that simplifies investing and makes it accessible,” says Michael Katchen, CEO and co-founder, Wealthsimple.
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Wealthsimple’s U.K. team, based in London, is led by Fintech entrepreneur Toby Triebel, the former CEO and co-founder of the global online lending platform Spotcap. Triebel joined the Wealthsimple team in September 2016 and has led the company through its initial beta testing, in which more than five thousand people signed up for early access.
The U.K. is Wealthsimple’s second international market after launching in the U.S. at the end of January.
Founded in 2014, the company now serves more than 40,000 clients, with more than $1 billion in assets. It’s backed by the Power Financial group of companies, which have invested $100 million in Wealthsimple to date.