Wealthsimple launches new products for families and businesses

Canada’s leading financial innovator brings personal, household, and business finances together in one place

Calgary — Today, at the third Wealthsimple Presents, Wealthsimple announced a suite of new banking services to give Canadians a single place to manage every aspect of their financial lives. From personal spend tracking and household money management to accounts for children and business banking. The expansion reflects a shift in how Canadians live and work today. They want to move fluidly between personal finances, shared household money, entrepreneurship, and long-term wealth building.

As traditional banking remains complicated, archaic, and expensive, Wealthsimple offers a connected and modern ecosystem designed to help Canadians manage every stage of their financial lives, all in one place.

The event titled Wealthsimple Takes Over Your Life saw over 320,000 Canadians register for the live stream, with over 650 clients joining in person at the Bella Concert Hall in Calgary. Alberta was a natural place for Wealthsimple to host the event. The province is growing quickly, attracting new residents, businesses, and investment at scale — and Wealthsimple is growing alongside it. Today, more than 500,000 Albertans are among the four million Canadians who use Wealthsimple. 

“Our clients’ financial lives are more complex than ever, with partners, kids, side businesses, and aging parents. They deserve a financial home that reflects that reality. We built Wealthsimple to be exactly that: personal, household, and business finances all connected – all in one place. For the first time, Canadians have a single place that grows with them at every stage of life. And we’re just getting started,” said Brett Huneycutt, Co-Founder and Chief Product Officer at Wealthsimple.

Wealthsimple Family: Track, manage, and plan household finances

Wealthsimple surveyed over 1,700 clients to learn how they handle household finances – uncovering the points of tension that make conversations around money so hard.

• Financial strain at home. The majority (87%) of couples with kids say finances have caused tension or conflict in their household, and 37% say they’ve used “we can’t afford it” when the issue was really about competing priorities, not ability to pay.
• Most couples operate from a shared financial base. Two in three (67%) Canadian couples share their finances in some form.
• But combining accounts doesn’t make the costs easier to plan for. Among couples with kids, cost-of-living pressures have led just over half (50.5%) to make financial trade-offs and 39% struggle to plan ahead with rising costs. Solo parents feel it even more acutely, as 58% have made financial trade-offs and 43% saying it’s been harder to plan ahead.
• When the numbers feel murky, the conversations get postponed. More than one in four (27%) couples with kids and 24% of solo parents have put off a financial conversation they knew they needed to have. Roughly one in five (22%) across both groups has downplayed a purchase to their partner or household.

The data exposes a financial system that hasn’t kept pace with how modern families live. Wealthsimple is giving households a single home to track, plan, and make decisions together.

• Wealthsimple Households: A fully customizable solution to view and manage household finances across all accounts, whether it’s with Wealthsimple or not: chequing, investments, mortgages, group RRSPs, and more. (available now)
• Kids and Teens Accounts: A chequing account and a spend card for kids with full visibility, customization, and parental controls. Parents can teach their children the importance of saving and compound interest with higher-than-bank interest rates, and top it up through parent-paid interest. They can boost their child’s interest rate to whatever they choose, making the reward of saving real enough that kids can actually feel it. (available Fall 2026)
• Authorized Traders: Clients can trade on someone else’s behalf, whether it’s a partner, parent, or another family member. Once set up, their accounts appear right below, so clients can view holdings and make trades seamlessly. (available Summer 2026)

Wealthsimple Business: Grow, organize and control business finances

For small business owners, the complexity of managing money doesn’t stop at their personal finances, it extends into their professional lives as well. Small businesses often pay higher fees for basic banking services while receiving less value than larger enterprises. Wealthsimple is changing that.

• Business Chequing: Business owners can open a new account online in minutes, whenever it fits their schedule. They can pay themselves without friction through automated transfers from their business account to personal chequing. The account offers up to 2.25% interest on deposits, something that most big banks don’t do. (available now)
• Prepaid Business Card: Business owners get unlimited 1% cashback and no FX fees for their spending. Clients can get the card with no lengthy application or approval process, they request in-app and start spending instantly. (available Summer 2026).
• USD Accounts for Business: Businesses can make and receive payments in USD with faster cross-border transfers and favourable FX exchange. This makes it easier for the many Canadian businesses working with U.S. customers to grow. Business account holders also earn interest on their balance and gain access to U.S. payment systems. (available Fall 2026)
• Business Portfolio Line of Credit: Business owners can use their corporate investments as collateral to access capital for personal purchases or business operations. Clients can extend their personal portfolio line of credit by linking their business investments, or set up a separate business portfolio line of credit for corporate purchases. Rates are as low as 3.95% without the need to sell investments. (available Spring 2026)

Closing the gap on everyday banking

A year ago, Wealthsimple set out to end banking as Canadians know it. From accepting cash deposits at more than 5,000 Canada Post locations to offering bank draft delivery, the company continues to broaden how Canadians access and move their money.

• Spend Insights: Real-time view of all transactions across a client’s Wealthsimple credit card and chequing accounts, organized by category. Clients will also get insights on where they spend their money, extra cash to invest, and recurring subscriptions for services they no longer use. (available now)
• Portfolio Line of Credit: Clients get instant access to cash for personal expenses without the need to sell investments and incur taxes. They can borrow against their portfolio with no credit check required, and receive interest rates as low as 3.95%. (available now)
• USD Chequing: One account that works on both sides of the border. Clients earn up to 3.25% interest — approximately $3,250 a year on a $100,000 balance — with no account fees. They get access to US and Canadian payment rails from a single account, the first borderless account of its kind. (available Fall 2026)

About Wealthsimple

Wealthsimple is Canada’s leading financial innovator. The company offers a full suite of simple, sophisticated financial products across managed investing, do-it-yourself trading, cryptocurrency, tax filing, spending and saving. Wealthsimple currently serves more than 4 million Canadians and holds over $125 billion in assets under administration. The company was founded in 2014 by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto, Canada.

Client Survey Methodology

From April 1 to April 20, 2026, Wealthsimple surveyed over 1,700 Canadian clients to learn more about the state of their personal and household finances, and their overall outlook on their financial futures.