New Wealthsimple feature allows clients to save or invest their spare change
wutwhan/123RF Toronto-based Wealthsimple Inc. is launching a new feature that allows clients to invest their spare change, the robo-advisor announced Tuesday.The Roundup feature rounds everyday purchases made on credit and debit cards to the nearest dollar, then invests or saves the difference. For example, if you buy a cappuccino for $3.30, “Wealthsimple automatically invests $0.70 into a diversified, low-fee investment account, or a high-interest savings account,” the company says in a news release. Related news Facebook LinkedIn Twitter Wealthsimple raising $750 million in latest financing deal, valuation hits $5 billion Wealthsimple sells U.S. biz to Betterment Anne-Marie Vettorel “Good habits — starting early, contributing regularly — are what make investors successful over the long term. We see Roundup as a way to encourage people to get into the habit of putting money aside for the future,” says Mike Katchen, CEO and co-founder, Wealthsimple, in a statement. “We hope this feature will inspire Canadians who’ve been considering investing to get started, and be a fun, easy way for those who are already investing to put away a little bit more.”Roundup is available through Wealthsimple’s mobile app for iOS and Android, and works with most Canadian credit and debit cards. BMO’s adviceDirect launches premium service Share this article and your comments with peers on social media Keywords Robo-advisorsCompanies Wealthsimple Inc.