Wealthsimple Reports Record Q1 Growth, Driven by Best-Ever RRSP Season

Wealthsimple ends Q1 2026 with $124.8 billion in assets and 3.4 million clients

Toronto, Ontario–(Newsfile Corp. – May 7, 2026) – Wealthsimple, Canada’s fastest-growing financial company, ended the first quarter of 2026 with $124.8 billion assets under administration, up 12.1% from the previous quarter and up 71% from a year ago.

The company now has more than 3.4 million clients¹ in communities from coast to coast to coast, and one in five Canadians aged 18 to 40 uses at least one Wealthsimple product.

Record RRSP season

This was Wealthsimple’s highest-growth RRSP season ever; the quarter saw the highest number of account transfer-ins in the company’s history, and deposits were up more than 45% year over year.

The Unreal Deal, launched mid-January, offered new and existing clients a contribution match of 1%, 2%, or 3% – with longer commitments unlocking higher rates. 85% of participants chose the 3% option, committing to a five-year relationship with Wealthsimple.

To prepare for high volume, Wealthsimple improved the in-app transfer experience and upgraded AI support tools, and as a result, RRSP-related support ticket volume was cut in half. This freed up customer service agents to focus on clients who needed human help.

“The RRSP is one of the most powerful financial tools Canadians have, and that’s why we’ve worked hard to build the best possible versions, with options for every investor at every life stage,” said Mike Katchen, CEO and co-founder, Wealthsimple. “Many of our clients are early in their earning and saving lives, and we look forward to growing these accounts together for decades.”

3.4 million Canadians, coast to coast to coast

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Today, more than 3.4 million Canadians trust Wealthsimple’s expansive suite of financial products, in communities across every province and territory.

Clients now have access to over 5,500 cash deposit locations through Canada Post – collectively outnumbering all big bank branches combined – making it easier than ever for Canadians anywhere to manage their money with Wealthsimple.

Investing in talent at every level

As AI changes the skills that matter and the speed at which they shift, Wealthsimple is innovating in how it finds top talent, and investing in the people already here – ensuring the team matches the company’s ambitions.

In Q1, the company launched programs designed to reach talent conventional pipelines miss:

AI Builders, in which candidates submitted a working prototype instead of a résumé;
Launchpad, a year-long paid internship for recent high school graduates; and
North Star, which targets senior Canadian talent working abroad, and has generated 6,000 applications and 6 hires since launch.

The company added two vice presidents: Jessica Oliver was promoted to VP, Government Relations, and Rachael Factor joined as VP, Communications, from TMX Group.

About Wealthsimple

Wealthsimple is Canada’s leading financial innovator. The company offers a full suite of simple, sophisticated financial products across chequing and spending, managed investing, self-directed trading, and tax filing. Wealthsimple serves more than 4 million Canadians and holds approximately $125 billion in assets under administration, as of March 31, 2026. The company was founded in 2014 by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto.

Media contact:
press@wealthsimple.com

¹ Number of clients is excluding users who only use Wealthsimple Tax

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