Wealthsimple

Right.

So I'm assuming this is like a reference to something like Wealthsimple.

Yeah.

This is the

Wealthsimple episode.

Right.

Yeah.

and that's why you're single.

The Canadian fintech Wealthsimple raised $425 million in its latest funding round, boosting its valuation from $10 billion a year ago.

Wealthsimple reported that it now has $169 billion under management, up from $100 billion last October, and is targeting $1 trillion by 2034, a milestone that would put it on par with Canada's biggest lenders.

A federal government official told Reuters that Canada and the U.S. haven't made much progress on an agreement to ease steel and auto tariffs, despite a renewed push from Washington to get a deal done ahead of next week's midterms.

If things don't go well for the Republicans in the elections, the U.S. ambassador to Canada, Pete Hoekstra, has reportedly prepared a plug-and-play excuse.

But as the prices average out on this chart, if you zoom in a bit month to month, there's actually some months where you'll be very profitable and other months where you wouldn't be.

And so what we let the farmers do is lock in the profitability, all in a modern experience, just like Wealthsimple on your phone.

Oh, wow.

So before Simple Hedge, you could hedge, but it was picking up and doing a physical call only during business hours.

I said, well, why don't you guys log on to TD? hedge your corn there.

You actually can't do that on TD.

You can't do that on Wealthsimple.

You can't do that on most of the modern apps.

You know, and there's all kinds of apps.

And I mean, I don't know how you feel about some of these apps, but like Wealthsimple and just accounts that you can do investing

online if you're not an expert.

Right, exactly.

He's also one of the country's most active angel investors.

with early checks in more than 50 Canadian companies, from Wealthsimple and Clio to Skip the Dishes and Dominion Dynamics.

He was even named Canada's Angel Investor of the Year in 2015.

He was a founding partner of the Creative Destruction Lab, which itself has originated dozens, if not hundreds, of promising Canadian companies.

Yeah.

The rough summary here is that the news is that IG Wealth, so Investors Group, which is part of the PowerCorp family, which is actually a big funder for Wealthsimple, is that they are using Goldman Sachs for some of their, I guess, exclusively branded... investments, some of the stuff that would go into the sort of the high net worth or other exclusive investor category.

Okay.

I sort of didn't catch the like exclusivity angle, but I guess it makes sense, right? Goldman is maybe has like this brand that kind of represents maybe wealth or something.

Yeah, I usually, when I'm making show notes, I'll read the articles and then I'll do like a quick, I'll get Claude to do a quick summary for me.

All right.

I just found it funny that the last line, IGM also owns 25 and a half percent of Wealthsimple.

It's like Claude really picked up the...