Wealthsimple to Integrate AI Agents for Investment Decisions
Wealthsimple clients will soon be able to connect ChatGPT or Claude to their accounts to pull market data and assist with investment decisions. The fintech firm is currently evaluating which new AI agents to integrate, prioritizing tools that Canadians trust and use daily. This move follows a period of rapid growth for the company, which reported $169.2 billion in assets under administration as of September 30, a significant increase from the $100 billion held a year prior.
New Trading Tools and Platform Updates
In the coming weeks, Wealthsimple plans to introduce bracket orders, which allow users to combine a take-profit order and a stop-loss order. With this feature, the execution of one order will automatically cancel the other. According to Wealthsimple, this update is intended to elevate the trading platform while demonstrating how the company intends to integrate further with AI in the future.
The firm is also updating its mobile interface to improve efficiency. Users can now place and fill mobile trade orders in two steps instead of eight. The company states this change reduces the process time from 21 seconds to four seconds. Clients can now perform e-transfers of up to $100,000 to other users on the platform.
Futures and Stablecoin Offerings
Wealthsimple is expanding its asset offerings, with plans to provide access to perpetual futures in late November. This feature will allow users to trade on an asset’s price using borrowed funds without needing to own the underlying asset or face a fixed expiration date.
The platform is also introducing support for the first Canadian-dollar-backed stablecoin. Users who hold this stablecoin on the platform will be eligible for a 3.25% annual reward. These updates precede a broader platform overhaul, with a new Wealthsimple app scheduled to roll out early next year.
We're going to be rolling out direct connections to ChatGPT and Claude: you log in through Wealthsimple and choose exactly what you want to share. Coming 2027. *Actual features when made available may differ than shown. pic.twitter.com/Z3lg5EsMJm
Questions Regarding Wealthsimple Updates
What is the minimum number of steps required for a mobile trade order?
Following the recent platform update, users can place and fill a mobile trade order in two steps.
How much has the firm’s assets under administration grown in the last year?
Wealthsimple reported $169.2 billion in assets under administration as of September 30, up from $100 billion one year earlier.
When will users gain access to perpetual futures?
Wealthsimple plans to offer access to perpetual futures in late November.