Wealthsimple unveils new online platform for financial advisors
Wealthsimple has introduced a new online platform for financial advisors
Canadian online investment service Wealthsimple has introduced a new online platform for financial advisors, dubbed Wealthsimple for Advisors, which will manage investment portfolios for their clients.
The platform will manage the entire signup, from KYC to assessing suitability, in turn freeing up advisors’ time that can be used to provide financial advice to clients, the company claims.
The robo-advisor features an admin interface for the advisor, along with a personalised dashboard for each client on the web and mobile apps.
The initial 0.35% of an advisors’ assets on the platform will be snapped up by Wealthsimple. However, advisors will also be allowed to add their management fee.
Wealthsimple CEO and founder Michael Katchen said: “It is crucial for the investment industry to innovate, and present advisors with the tools to help their clients become informed investors. We want to work with the industry to provide smart technology and support the advisor’s ability to deliver outstanding client experiences.”
Wealthsimple, set up by a team of financial experts and technology entrepreneurs, currently operates in every province and territory of Canada. Earlier in 2016, the fintech provider bought its own brokerage that helped them control the end-to-end experience for clients.