The Toronto fintech first set a goal of holding $100 billion in client assets by December 2028, quadruple the $25 billion it held at the time. (The Logic)
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The Toronto fintech first set a goal of holding $100 billion in client assets by December 2028, quadruple the $25 billion it held at the time. (The Logic)
Talking point: The disclosure is the latest in a hot streak for Wealthsimple. In August, the company announced its assets under administration in the second quarter had almost doubled from $84 billion last year. Montreal-based asset management giant Power Corp., which owns just over half of Wealthsimple, said the value of its stake in the company increased 21 per cent in the second quarter to $2.7 billion, due in part to its “strong business performance.” Wealthsimple, which expanded into services meant to replicate traditional retail banking in June, also announced gold trading, full-service wealth management advice and other services aimed at its core investing clientele at a Toronto event Wednesday.
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