Toronto, Ontario--(Newsfile Corp. - July 29, 2026) - Wealthsimple, Canada's fastest-growing financial company, ended the second quarter of 2026 with $155.6 billion assets under administration, up 24.7% from the previous quarter and up 84.1% from a year ago.
The company now has 3.6 million clients (excluding tax filers), and nearly a quarter of Canadians aged 18 to 40 use at least one Wealthsimple product.
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"Banking Is Over"
Wealthsimple saw net inflows of approximately $17 billion in the second quarter of the year, as new and existing clients embraced chequing and spending products. For the first time, new chequing account openings outpaced new investment accounts in the quarter.
"We built our everyday chequing and spending products by listening to clients and understanding when, how, and where they need their financial institution to show up for them," said Mike Katchen, co-founder and CEO, Wealthsimple. "If you're closing on a home, we'll deliver your bank draft straight to your door. When you're traveling, you can withdraw cash at any ATM without worrying about the fee, and make purchases on your credit card with no FX fees. It's clearly resonating with Canadians, and we're excited to keep building for them."
The company added new spending and credit features: Spend Insights gives clients real-time analytics on their chequing accounts and credit cards, while Business Chequing gives small business owners an interest-paying spending account. They join a product lineup that includes a 3.95% Portfolio Line of Credit; a credit card with 2% cash back and no FX fees; a high-interest chequing account; and same-day delivery of bank drafts.
Wealthsimple rolled out a new brand campaign, It's Over, featuring an absurdist visual representation of an antiquated system literally crumbling to the ground. With the tagline "Banking Is Over," the campaign casts Wealthsimple as the antidote to an outdated industry, offering the convenient, modern solutions Canadians have been waiting for.
Access to IPOs, and incentives to save
In May, Wealthsimple launched IPO Access, giving everyday Canadians the opportunity to participate in IPOs at the offering price - access that is typically limited to institutional and high-net-worth investors. It's the latest addition to a trading platform that offers equities, options, futures, fractional shares, direct indexing, real-time charting, USD accounts, and margin accounts. Wealthsimple, which was first to bring commission-free trading to Canada, was ranked the #1 brokerage for customer satisfaction by J.D. Power for the third year in a row.
Monthly Millionaire, launched in May, incentivizes saving and investing by giving clients entries into weekly draws for cash prizes, including a $1,000,000 monthly grand prize. Clients earn entries by opening and funding a chequing account, making deposits to any Wealthsimple account, referring friends, setting up direct deposit, which doubles their entries, or writing an essay. In Q2, Monthly Millionaire paid out a total of $2.18 million to Wealthsimple clients.
About Wealthsimple
Wealthsimple is Canada's leading financial innovator. The company offers a full suite of simple, sophisticated financial products across chequing and spending, managed investing, self-directed trading, and tax filing. Wealthsimple serves more than 4 million Canadians and holds approximately $155 billion in assets under administration, as of June 30, 2026. The company was founded in 2014 by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto.
Media contact:
press@wealthsimple.com
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Source: Wealthsimple
