Wealthsimple is building a digital platform for Grayhawk’s clients, which are 30 of Canada’s wealthiest families with combined assets of $800 million. Grayhawk will use Wealthsimple’s platform to automate processes like account opening and administration. (The Logic)
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Wealthsimple is building a digital platform for Grayhawk’s clients, which are 30 of Canada’s wealthiest families with combined assets of $800 million. Grayhawk will use Wealthsimple’s platform to automate processes like account opening and administration. (The Logic)
Talking point: This is the largest deal by Canada’s biggest robo-adviser, coming on the heels of a growing number of partnerships between fintech firms and banks. Another Canadian robo-adviser, Nest Wealth, started partnering with traditional services with a B2B platform in late 2016—it was among the first. CI Financial, looking to build an online investment tool, bought a majority stake in Vancouver-based robo-adviser WealthBar earlier this year. In April, U.S. robo-advising giant Betterment partnered with Goldman Sachs and BlackRock. And, banks like RBC, TD, and BMO have all recently launched their own robo-advisers.
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