Wealthsimple Acquires Financial Planning App for Couples 

Toronto-based Wealthsimple is expanding its offerings for Canadian families with the acquisition of Plenty, a financial planning app designed to help couples manage money together.

Wealthsimple described US-based Plenty as a natural fit, saying the company shares its mission of making financial services simpler and more accessible. The move will support Wealthsimple’s growing lineup of features for families, such as joint accounts, spousal RRSPs, RESPs, and household account management.

“The Plenty team shares our belief that financial services can and should be simpler. They have built an incredible product focused on improving the financial lives of families — an area we’ve been investing in,” said Tim Kalimov, VP of Product at Wealthsimple. “Their expertise in this space makes them a natural fit for Wealthsimple, and we’re excited to bring their insights and innovation into what we’re building.”

Plenty, which launched three years ago, offered tools to help couples budget, track spending, plan for shared goals, and view net worth across personal and joint accounts. It also included features like investing with tax benefits, goal planning, transaction tracking, and a financial dashboard showing where users stand and where they’re headed.

The company will now wind down its standalone app as its team—including co-founders (and wife and husband team) Emily Luk and Channing Allen—joins Wealthsimple to work on family-focused features within the larger platform. Luk did her post secondary at the University of Toronto.

“I’m excited to share that we’re joining Wealthsimple to continue working toward our mission. We’ll be closing Plenty as a standalone product—though the vision that started this journey is far from over. In Wealthsimple, we’ve found a team that shares our ambition to build a new kind of financial services company—one that truly acts in the best interests of its clients,” said Luk in a company blog post on Wednesday.

Plenty’s existing users will see the app shut down on April 30, 2025, but Wealthsimple says it plans to integrate its features into future updates.

Other members of the Plenty team joining Wealthsimple include Matt Bretl, Jordan Brown and Michael Falzone.