Wealthsimple for Advisors to be acquired by Purpose Advisor Solutions

Jan 23 19:01 2020 Print This Article

Wealthsimple for Advisors has is set to be acquired by Toronto-based Purpose Advisor Solutions. The acquisition has yet to close and the purchase price is not currently being disclosed.

The news comes one month after Wealthsimple announced it would transition its advisor service to a new company, separate from the Wealthsimple brand. The companies will be working over the next few months to evolve their offering.

“This transition will scale the business by combining two talented and experienced teams.”

J-F Courville, CEO of Wealthsimple for Advisors, and Dave Nugent, chief client officer at Wealthsimple for Advisors, will join as managing partners of Purpose Advisor Solutions. The entire team at Wealthsimple for Advisors is expected to join Purpose Advisor Solutions following the acquisition.

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