News Summary

Toronto-based FinTech giant Wealthsimple has acquired Montréal investment research platform Fey to enhance its investment research capabilities. Wealthsimple plans to integrate Fey’s design and technology into its platform, aiming to offer more professional-grade investment research features to users. Fey, founded by Thiago Costa, Dennis Brotzky, and Thomas Russell, will wind down its operations, and its team will join Wealthsimple. This acquisition marks Wealthsimple’s second of the year as it continues to expand its product offerings and solidify its position as one of Canada’s leading financial services platforms. Wealthsimple has seen significant growth, closing the second quarter with $84 billion CAD in total assets, and is valued at approximately $6.4 billion.