Wealthsimple Targets Canada’s Richest With Grayhawk Partnership
- Wealthsimple CEO sees ‘once-in-a-generation’ chance to expand
- Katchen says firm mulling adding mortgages, credit lines
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Wealthsimple Inc., the robo adviser favored by millennials, is expanding in the opposite end of the Canadian wealth spectrum -- services for high-net worth families.
The investment firm’s Wealthsimple to Advisors unit will provide technology, dealer and advisory services to Grayhawk Investment Strategies Inc., a Calgary-based firm that manages about C$800 million ($600 million) for 30 of Canada’s richest families. Wealthsimple will then offer Grayhawk strategies to advisers with wealthy clients on its platform.