Briefing

Wealthsimple sells U.S. book of business to Betterment

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Both companies declined to disclose the price of the transaction. The deal involves 17,400 accounts with US$190 million in assets under management (AUM), said Betterment spokesperson Danielle Shechtman. Wealthsimple will not cut any staff as a result of the sale, and its U.K. business will keep operating independently, said spokesperson Sarah Pattillo. (The Logic)

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