Wealthsimple CEO Michael Katchen Announces New High-Networth Investement Partner
Wealthsimple, the intelligent investment platform popular with millennials, is expanding its financial offerings. CEO Michael Katchen announced the company will be partnering with Grayhawk Investment Strategies, opening their services to high-networth families.
Grayhawk Investment Strategies manages a portfolio of $800 million for some of the countries wealthiest families. Under the new partnership, Grayhawk will use the ‘Wealthsimple to Advisors’ unit for its technology and advisory services, while Wealthsimple will offer Grayhawk strategies to advisors with wealthy clients on its own platform.
“We still are often thought of as a young millennial shop, and even in our advisor business a lot of people think of us as a ‘Mom and Pop’ advisor,” Wealthsimple Chief Executive Officer Michael Katchen said in an interview with BNN Bloomberg. “But this is a very ultra high-net-worth professional shop that’s been growing very fast—it’s only four years old—that understands the value of a platform like ours.”
The company has recently been rolling out other services, such as commission-free trading, and hopes to continue its expansion.
“We think that there is a once-in-a-generation opportunity to build that kind of platform, based here in Canada, but expanding it around the world,” Katchen says. “It’s pretty obvious where we’re going to go: we want to be the mainstay of our clients’ financial lives.”
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