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Betterment Digital wealth manager Betterment is buying Canadian rival Wealthsimple's US book of business. Betterment, which manages some $28 billion in assets, will absorb around $190 million in assets. CEO Sarah Levy told Insider that Betterment, which launched in 2010, is on a path to an IPO. Betterment is set to acquire Canadian competitor Wealthsimple's US-based customer accounts in a deal that will add some $190 million in assets and 17,000 customers to the robo-advisor just three months after the finte...

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5 Min Read TORONTO (Reuters) - Stock brokers in Canada cannot use marketmakers to execute trades for a fee, under a government rule that has restricted the growth of zero-commission trading platforms like Robinhood, whose booming business in United States was linked to wild swings in GameStop Corp and other “Reddit rally” stocks. FILE PHOTO: Trading information for GameStop is displayed on the Robinhood App in this photo illustration January 29, 2021. REUTERS/Brendan McDermid/Illustration U.S. zero-commission platforms sell orders to wholesale marketmakers and generate revenue. Canadian b...

If you’ve spent any time on social media this week, you’ve probably heard about GameStop and stocks. What you may not know is that the frenzy boosted popularity in a Canadian stock trading app as well. As a short explanation, the internet has stirred itself into a frenzy over GameStop, a U.S.-based video game retailer (EB Games is the company’s Canadian division). Essentially, a Reddit community called ‘Wall Street Bets’ (WSB) struck out at hedge funds that shorted the GameStop stock, starting an insane stock price rally. Short selling is when an investor borrows a stock and sells i...