Wealthsimple Launches Penny AI Assistant for Banking and Trading

Nov 5, 2026
Penny can prepare money transfers and investment trades, flag duplicate charges, manage expenses and answer financial questions. Users must confirm every transaction.

Wealthsimple is launching Penny, an AI assistant that can prepare banking transactions and investment trades, according to BNN Bloomberg. The company announced Penny among a dozen new products at its Wealthsimple Presents event in Toronto on Thursday.

Penny can prepare electronic transfers, flag duplicate credit card charges, manage expenses and pay invoices. It can also answer questions about a user's finances, including how to maximize RRSP contributions, and help self-directed investors buy or sell stocks, exchange-traded funds and other assets.

The assistant cannot move money, place trades or complete other tasks without user confirmation. It operates within Wealthsimple and does not access the public internet.

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