The digital platform, which has been set up to attract Millennial clients, is going after HNW clients in Canada as well, its CEO said in an interview.

Canadian robo-advisor Wealthsimple is chasing after high net worth clients, marking a departure for a firm reportedly favored by Millennial clients.

The investment firm’s Wealthsimple to Advisors unit will provide technology, dealer and advisory services to Calgary-based Grayhawk Investment Strategies, which oversees C$800 million ($600 million).

"Teaming up with Wealthsimple for Advisors will provide Grayhawk’s professionals with a best-in-class technology platform to enhance client experience and the efficiency of their business. Integrating Wealthsimple’s digital advice platform automates typically manual processes, like account opening, compliance and ongoing account administration. This will enable the team to spend more time with clients, and clients to get easier access to their portfolio and useful resources - ultimately providing them with the best possible experience, both online and off," Wealthsimple said in a statement emailed to Family Wealth Report.

“We still are often thought of as a young Millennial shop, and even in our advisor business a lot of people think of us as a ‘Mom and Pop’ advisor,” Wealthsimple chief executive officer, Mike Katchen, told Bloomberg in an interview. “But this is a very ultra-high net worth professional shop that’s been growing very fast - it’s only four years old - that understands the value of a platform like ours.”

Grayhawk was founded in 2015. Starting with one family in Calgary, the firm now partners with 30 families and growing all across Canada, With a team of 13 staff, operates from Calgary and Toronto.