On Tuesday, Canadian fintech platform, WealthBar, announced it surpassed $100 million in online investments. This announcement comes just as WealthBar completes its second year in business.
The platform stated that during its two-year run its clients saved approximately $1.3 million annually in fees when compared to mutual funds. WealthBar notably provides a dedicated financial advisor as a core part of its relationship with investors to help them create a financial plan and coach them along the way. The company also offers Private Investment Portfolios that until recently were available only to affluent high net worth investors. Investors can access those investments for as little as $5,000.
Tea Nicola, the CEO at WealthBar, stated:
“Clients know they’re in it for the long haul and trust the process. While we might be online, we know our clients see value in having a dedicated advisor and planning. Having someone who genuinely cares available to talk is an important part of what makes our clients successful.”
WealthBar also noted that its Long Term Growth ETF portfolio returned 9.69% for 2016 and its Primary Private Investment Portfolio grew 9.13% in the same year, with exceptionally low volatility at about half that of a typical balanced mutual fund. Neville Joanes, Portfolio Manager at WealthBar, also noted:
“We’ve seen some of the best risk-adjusted returns across all of our portfolio classes this year. It’s a great fit for investors who are looking for more stability and consistent returns from their investment. It’s how many affluent investors save their money, and for good reason.”
Nicola added:
“While reflecting on our journey so far, our team has come a long way from being an idea on paper. We’ve continued to grow even through challenges, and I couldn’t be more proud. The last two years certainly have been the most rewarding of my life.”