Canada’s Wealthsimple has announced the acquisition of investment research platform Fey, although the financial details of the transaction remain undisclosed.
Founded in 2021 and based in Montreal, Fey has developed an innovative investing platform that utilizes advanced AI tools to assist traders with financial analysis. The platform offers a trader-centric design, featuring earnings assessments, natural language stock screening, and a real-time personalized news feed, which will now be integrated into Wealthsimple’s offerings.
With three million customers and over $80 billion in assets, Toronto-based Wealthsimple views the acquisition of Fey as a strategic move to enhance the user experience. “Fey’s design-focused approach and technology will significantly improve our ability to provide a seamless trading experience in Canada—one that is accessible for beginners yet robust enough for experienced traders,” said Polly D’Arcy, VP of Design at Wealthsimple.