Time Flies When You’re Changing the Future of Investing

To our Wealthsimple family,

Ten years ago, investing in Canada felt like something you needed a Ph.D. to understand. There was no online convenience — you had to fill out forms with an actual pen, send them in, and hope for the best. If you wanted advice, you paid through the nose for it. If you wanted to manage your own money, you were hit with hefty fees every time you made a trade. Not exactly the most inspiring system.

So we thought, “What if this could be... better?” We started with a clear goal in mind: make investing easier, more accessible, and more human. Our motto, “Keep it simple,” meant stripping away the confusing jargon, the hidden fees, and the clunky product experience that defines traditional financial services. In an industry that was defined by its complexity, simplicity was our differentiation.

And it turns out we weren’t alone in our desire for a simpler approach. Today, more than 3 million Canadians use Wealthsimple. Whether you’re saving for a home, investing for your kids’ future, or navigating life’s big financial milestones, we’re proud to be part of it. Together, we've built a community founded on trust, transparency, and a belief that there is a better way to manage money. And I’m proud to announce that we now manage over $50 billion in assets.

When we started, we were mostly dealing with smaller accounts. People were curious but cautious — understandable for a young company. Now you might be surprised to learn that our fastest-growing segment is million-dollar accounts. We’re helping more and more people make serious strides toward financial freedom, and that’s something we’re really proud of.

One thing that hasn’t changed over the years is our obsession with putting clients first. We measure our success by yours. Our first 10,000 clients started with $161 million at Wealthsimple. Those same clients have over $1.3 billion with us today. They’ve trusted us not only with their assets but also to help them navigate life’s ups and downs with confidence. 

Wealthsimple is robustly profitable and continues to grow at a record pace. That’s a big accomplishment because we’ve proven that it’s possible to run a business that puts people first and still thrives. It also means we’re in a position to keep investing, keep innovating, and keep delivering for you over the long term. 

Better than a bank

Wealthsimple today is more than just a place to invest. We’ve grown into a platform that offers a full suite of financial services designed to meet your every need. Whether it’s investing, trading stocks or crypto, or even filing your taxes, we’ve got you covered. And now we offer even more: mortgages, financial advice tailored to you, and banking services that make managing your money easier. Plus with more than 4 million subscribers, TLDR is Canada’s most read financial newsletter, helping you make sense of the latest news from the world of money.

Our mission has always been to help Canadians achieve financial freedom. Now I know that sounds lofty, but here’s what it really means: we want to give you the power to make choices — whether it’s for yourself, your family, or your community. And no, financial freedom doesn’t mean getting rich overnight. It means having the flexibility to make decisions without being held back by financial stress. It’s about reducing the anxiety that money often causes and helping people feel more secure, no matter what life throws at them.

A decade ago, our goal to become Canada’s largest financial institution seemed ambitious, even laughable. But with nearly $20 billion in net deposits added in the last 12 months, that vision is now within reach. We’re aiming for $1 trillion in assets under administration in the next 10 years, and we’re laser-focused on getting there.

A simple plan

How do we plan to do it? By keeping it simple. But here’s the thing: “simple” doesn’t mean easy. It’s easy to be simplistic, to cut corners or gloss over the details. But true simplicity — that takes effort, an ethos. It takes craft. It’s about stripping away the unnecessary, so all that’s left is what really matters. For us that means:

• Attract new clients. We aim to open more than half of all new online investment accounts in Canada this year.

• Earn trust. Trust is everything in this business. By offering transparency, demystifying finance, and launching innovative products, we’re redefining personal finance.

• Grow with you. As you build wealth, we continuously expand our products to support your journey, whether you’re starting out or managing millions.

And we do all of this while sticking to a business model that prioritizes clients. Unlike traditional banks, we don’t rely on sneaky fees or penalties. Our revenue comes from adding value — like charging a modest fee to manage your investments or earning a small fee when you use our Wealthsimple Cash card. And when we do charge fees, they’re a fraction of what you’d pay elsewhere. That’s how we’ve been able to stay true to our values while building a sustainable, profitable business.

The road ahead

To our clients, thank you for trusting us with your hard-earned money. Thank you for believing in what we’re building. And thank you for being part of the Wealthsimple family. To prospective clients, now that you've seen what we've done, we hope you'll give us a chance to show you what we can do next.

Keep it simple,

Michael Katchen Co-founder and CEO

FROM OUR SPONSOR

Written By

Mike Katchen

Mike Katchen is the co-founder and CEO of Wealthsimple.