Wealthsimple unveils AI assistant Penny among 12 new releases

Wealthsimple unveiled Penny, an AI assistant inside its app, together with 11 other releases at its Wealthsimple Presents showcase in Toronto on 5 November. Penny helps clients understand their finances and handle e-transfers, bill payments and contribution planning, and does not act without the client's confirmation. Availability is expected by late 2026 or early 2027.

Other items on the roadmap include perpetual futures, a CADD stablecoin pending final regulatory approval, connections to Claude and ChatGPT in early 2027, a business credit card with no foreign exchange fees and 1% cashback by early 2027, and a Wealthsimple Pro desktop trading suite in beta by the end of November.

The Toronto company, co-founded by CEO Michael Katchen, serves more than 4 million Canadian clients with over C$169 billion in assets under administration. It announced a C$425 million Series F at a C$13.8 billion valuation the prior week.