Wealthsimple for Advisors announces its acquisition by Purpose Advisor Solutions

On Jan. 23, Wealthsimple for Advisors announced its acquisition by Purpose Advisor Solutions. The acquisition will allow Wealthsimple to enhance their advisor business through the offering of new capabilities such as digital onboarding, investment analytics and financial planning tools. Terms of the acquisition were not disclosed.

Wealthsimple is an online investment management firm focused on its automated management platform targeted towards financial planners, investment advisors, portfolio managers and dealers.

Purpose Advisor Solutions is a Toronto based technology company focused on practice management technology for financial advisory businesses.

Osler, Hoskin & Harcourt LLP advised Wealthsimple with a team consisting of
Chad Bayne,
Justin Dharamdial (emerging and high growth companies),
Dov Begun (tax),
and Kojo Hayward (corporate).