Canada's WealthSimple robo-advisory to expand into UK
Robo-adviser WealthSimple is expanding to the UK, launching fully in September, with a beta version out in the summer. This will be the second expansion for WealthSimple outside Canada this year, after launching in the US in January following a $20m investment from Power Financial Corp. The service is focused on the needs of young and first-time investors and aims to be "simple, smart and accessible".

WealthSimple is taking its digital investing platforms overseas.

The robo-advisor announced Thursday that it is expanding its services to the United Kingdom. The service will have a full public launch in September, preceded by a beta version to be rolled out this summer.

“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,” WealthSimple Founder and CEO Michael Katchen said in a statement. “We’re really excited to introduce our first UK clients to the simple, smart, accessible service Wealthsimple is known for.”

The business will be led locally by financial services veteran Toby Triebel.

WealthSimple has already opened a waitlist for the beta service, which the company promises will mirror the North American platforms.

This is the second expansion outside of Canada for WealthSimple this year. The company launched in the United States in January after a $20 million investment from Power Financial Corp.