Purpose Advisor Solutions Closes Merger With Wealthsimple For Advisors

Purpose Advisor Solutions Closes Merger With Wealthsimple For Advisors

Combined entity provides advisors access to leading technology and partnerships

Agreement unites two experienced teams and technology to further strengthen leadership in advisor and portfolio manager services in Canada

Today, Purpose Advisor Solutions (“PAS”) and Wealthsimple for Advisors (“W4A”) announced they have completed their merger into a single business. The new entity will be entirely focused on independent advisors and portfolio managers under Purpose Advisor Solutions and will provide enhanced technology-enabled portfolio and account management solutions. All clients on the W4A platform have been successfully transitioned to PAS’s registered portfolio manager, Harness Investment Management, and Fidelity Clearing Canada’s custodial platform.

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Purpose Advisor Solutions, which is majority-owned by Purpose Financial, delivers an end-to-end solution to simplify advisor and PM practices. It offers wealth firms and advisors modern and intuitive tools that integrate digital workflows, manage client relationships (CRM), conduct administrative tasks, and handle portfolio management, reporting, compliance and trading.

“We are excited to see this major milestone in our evolution come to fruition,” said Jeff Gans, CEO, Purpose Advisor Solutions. “Our combined business will provide Canadian advisors and wealth managers with real choice in how they manage their practice by providing end-to-end digital technology and operational infrastructure. This will allow them to focus on what matters most – providing holistic advice to their client relationships.”

The combination of Canada’s two leading, digitally-powered wealth management platforms will bring together dedicated teams, innovative technology and operational efficiencies to provide an advisor-centric business that will unlock new possibilities for entrepreneurial advisors and independent investment firms in Canada. Purpose Advisor Solutions will continue to scale and accelerate investments in the future of wealth management technology with powerful tools and meaningful partnerships.

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J-F Courville, Managing Partner at PAS (formerly CEO, Wealthsimple for Advisors), and Dave Nugent, Managing Partner at PAS (formerly Chief Client Officer, Wealthsimple for Advisors), along with the experienced W4A team have joined Purpose Advisor Solutions, adding proven leadership and deep wealth experience.

“We are excited to continue to help advisors innovate and provide industry-defining experiences for their clients,” says Courville. “We have a number of initiatives in progress that will continue to show our combined team’s commitment to helping advisors and PMs differentiate themselves and succeed. We firmly believe in truly integrated tech capabilities that provide full and seamless advisor-client experiences,” added Courville.

“Our goal has been and always will be to elevate the quality of and access to advice in Canada. Now, more than ever, we are positioned to provide new solutions to advisors who want to build a fantastic client experience and own the equity in their business,” concluded Nugent.


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