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Broadridge Enlists Wealthsimple to Bring Robo-Advising to Clients

First, it was fintech companies partnering with big banks—now it’s fintechs working together.

Broadridge Financial Solutions has announced a partnership with Wealthsimple today, aiming to leverage the robo-advisor’s sophisticated and user-friendly automated investment management to support both advisor-investor and direct-to-investor models.

For enterprise partners, Wealthsimple builds customized solutions through their accounts team, offering control over a product roadmap and the ability to prioritize what is being developed.

The New York-based Broadridge is a $4 billion global fintech leader that provides investor communications and technology-led solutions for brokers, banks and issuers around the world. They will be working with the Toronto-based Wealthsimple’s leading technology platform, enabling firms to drive efficiencies in client onboarding, compliance and account transfers. On top of this, firms will be able to access automated investment management and mobile access.

“With this new partnership, clients will be able to leverage highly customizable technology to target new customer segments–allowing them to get ahead of today’s challenges and capitalize on what’s next,” said Michael Dignam, president of Broadridge Canadian Securities Processing Solutions. “Our wealth solutions have the unique capacity to support both securities and mutual fund dealers, on a single platform, even though they are separately regulated entities in Canada.”

The initial focus for Broadridge is in Canada and will feature integration with their existing wealth solutions. By bringing Wealthsimple’s technology into Broadridge’s offerings, clients will be able to access a single view of all assets from both an advisor and customer point of view.

“With Broadridge as our partner, we can reach more investors, furthering our mission to bring smarter financial services to advisors and investors,” said Michael Katchen, CEO and co-founder of Wealthsimple. “We’ve always believed strongly that combining human advice with great technology delivers the best experience and outcomes to investors. Through this integration, clients will be able to retain their relationships with their advisors while gaining access to a great technology experience.”

Wealthsimple has grown exponentially over the past few years, raising $50 million earlier this year and now managing over $1 billion in assets for more than 50,000 clients in Canada, the U.S. and the U.K.

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