Toronto-based Nest Wealth Asset Management Inc. has gone West.
The robo-advisor firm is now available to investors in Alberta and Manitoba. Until Thursday, Nest Wealth was available solely in Ontario.
“We’re excited that we’re able to start providing the services beyond Ontario now,” says Randy Cass, CEO and founder of Nest Wealth.
The robo-advisor firm also intends to launch in British Columbia in the early part of 2016 and to roll out in the rest of the country by the end of next year.
Investors in Alberta and Manitoba will receive the same services as current clients in Ontario. “Everybody will have a personalized onboarding process and have a portfolio manager associated with their account,” says Cass, adding that the company expects to see a high demand for these services in both provinces given the waiting lists it has compiled over the past year.
The expansion follows the announcement of Mississauga, Ont.-based Metroland Media Group Ltd.’s $1.5 million investment in Nest Wealth in August 2015.
“Metroland’s been a great partner for us so far,” says Cass. “They’ve given us visibility, they’ve given us a platform and a column called Wealth Matters.”
Fellow robo-advice platforms such as Vancouver-based WealthBar Financial Services Inc., Wealthsimple Financial Inc. and Canadian ShareOwner Investments Inc., both of which are headquartered in Toronto, are available nationwide.
Oakville, Ont.-based Invisor Investment Management Inc. is available in the provinces of Ontario, B.C., Alberta, Saskatchewan and Manitoba. The most recently launched robo-advisor, Vancouver-based ModernAdvisor Canada Inc. is licensed to operate in B.C., Alberta and Ontario.