Wealthsimple, a digital investment management outfit based in Canada, has announced plans to expand into the UK.
The robo-adviser is expected to launch a beta version of its platform in the UK in mid-2017 and fully launch in September 2017.
Apart from being able to create an investment account on the website or mobile app, Wealthsimple users in the UK can also access advisers and choose from a selection of standard or socially responsible investment portfolios.
The UK arm will be headed by Toby Triebel, a fintech entrepreneur the former co-founder of online lender Spotcap.
Wealthsimple founder and CEO Michael Katchen said: “Our mission is to make smart financial services accessible to everyone in the world. There are a lot of people in the UK who aren’t getting the tools and advice they need to live their best financial lives, and in particular young and first-time investors.”
The UK expansion marks the second international expansion of the firm, following a foray into the US market earlier this year. The firm currently manages $1bn in assets and serves over 30,000 clients.
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