Betterment acquires rival WealthSimple's US business

The deal will give see WealthSimple pull out of the US market and give Betterment about 17,400 additional customers with assets under management of $190 million. Betterment currently has 600,000 customers and $28 billion in AUM. Betterment won the business in a competitive bidding process for which the size of the transaction was not disclosed. Betterment will not be acquiring any technology, employees, or operations as a part of the deal.
Read more...

;