TORONTO, March 3, 2016 /CNW/ - Wealthsimple, Canada's leading online investing service, announced it has eliminated their minimum investment requirement for clients.
To attract novice investors, the online investment firm has reduced their account minimum to $0, bringing smart investing to more Canadians.
The recent acquisition of brokerage firm ShareOwner allows Wealthsimple to build a portfolio using fractional shares. They're currently the only firm in Canada able to do so. Clients can receive an optimal, fully-diversified portfolio for any account level - whether it's investing $100, $10,000, or $1,000,000.
"Our goal when we started Wealthsimple was to democratize financial wisdom," said Wealthsimple CEO Michael Katchen. "We wanted to prove that for anyone who is able to do a few simple things—start investing early, be consistent, avoid high fees—growing wealth isn't actually that hard."
Wealthsimple, which launched in 2014, has over $400 million assets under management and 10,000 clients.
Historically, smart investment advice has only been available to high-net-worth individuals. Wealthsimple is the first investment company in Canada to eliminate account minimums completely.
Wealthsimple is Canada's leading online investment manager, making smart and simple investing accessible to all Canadians with low minimums and low fees. Their on-demand financial planning services and investment advice educate clients and keep their investments on track. Founded by a team of financial experts and technology entrepreneurs, Wealthsimple is currently registered and operating in every Canadian province and territory. Wealthsimple is backed by Power Financial Corporation, a publicly-traded management and holding company. To learn more, visit www.wealthsimple.com.
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