On January 23, 2020, 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 specialized in practice management technology for financial advisory businesses.
Osler, Hoskin & Harcourt LLP advised Wealthsimple with a team consisting of Chad Bayne and Justin Dharamdial (Emerging and High Growth Companies), Dov Begun (Tax) and Kojo Hayward (Corporate).
Osler, Hoskin & Harcourt LLP also advised Purpose Advisor Solutions with a team consisting of Andrew Aziz, Lori Stein and Kai Sheffield (Corporate).