Who owns Wealthsimple?

traditional · Toronto, CA · Broker-led · custody: Custodial

short answerWealthsimple is a broker-led platform rather than a bank: the regulated entity behind it is an investment firm or broker-dealer, and client assets sit with that entity or its custodian rather than as bank deposits. Its stated authorisation: Broker-led: CIRO-registered investment dealer (WSII); cash held at CDIC member banks. Wealthsimple's most notable disclosed backers include Power Corporation, Allianz X, Meritech Capital and Greylock.

Is Wealthsimple a licensed bank?

No — it is a regulated broker or investment firm, not a bank. License detail: Broker-led: CIRO-registered investment dealer (WSII); cash held at CDIC member banks.

Where is your money held?

Custody model: Custodial.

No sponsor bank or infrastructure provider is publicly documented for Wealthsimple yet. Know one? Suggest it.

Who's behind Wealthsimple?

Wealthsimple was founded by Michael Katchen, Brett Huneycutt (2014), headquartered in Toronto, CA.

Early investors

Notable venture and strategic investors from Wealthsimple's publicly disclosed funding rounds (Power Corp-backed; ~C$1B+).

Power Corporation ↗

Allianz X ↗

Meritech Capital ↗

Greylock ↗

DST Global ↗

Is my money safe with Wealthsimple?

Wealthsimple is not a bank, so deposit-guarantee schemes do not apply. Client assets held through a broker are usually covered by an investor-compensation scheme instead — a different protection with different limits. Check which entity holds your assets and which scheme covers it.

go deeperSee the full Wealthsimple profile with every verified field, or Wealthsimple alternatives. Raw fields: data.json.

Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.