Wealthsimple has made the decision to no longer provide investment advisory services in the US, and has agreed to transfer its existing US customer accounts to Betterment. The account transfer involves (i) the assignment by Wealthsimple US, Ltd., an SEC registered investment adviser, of each customer’s investment advisory agreement and account to Betterment LLC, an SEC registered investment adviser, and (ii) the transfer of each customer’s related brokerage account from Apex Clearing Corporation, an SEC registered broker-dealer and FINRA member clearing firm, to MTG LLC d/b/a Betterment Securities, an SEC registered broker-dealer and FINRA member.
When will the transfer take place?
We expect the account transfer to occur on or around June 12, 2021 (the “Transfer Date”).
Related Articles