In a U.S. robo advice market burgeoning with new entrants from startups to wirehouses, the latest newcomer isn't even an American firm. Wealthsimple, a Canadian robo adviser, plans to serve U.S. clients — from Toronto.
"It does show there's no barrier to entry anymore to automated investing in the U.S.," says Bill Winterberg, founder of the fintech blog FPPad. "The U.S. market is the best in the world to introduce an automated investment solution."
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