‘We’re trusting the bounce’: PNC Financial says it’s too early to turn bearish on stocks

Agati, who is the firm’s co-chief investment strategist, believes a strong earnings season will revive the markets and boost confidence among investors. Really, we think the fundamental backdrop for the economy and the markets continues to be very strong,” she said Friday on CNBC’s “Trading Nation.” It came as J.P. Morgan Chase kicked off earnings season with a beat. “We’re still very positive on Q3 earnings season,” she said. “One day does not make a trend, and so we really think that Q3 is goi


Agati, who is the firm’s co-chief investment strategist, believes a strong earnings season will revive the markets and boost confidence among investors. Really, we think the fundamental backdrop for the economy and the markets continues to be very strong,” she said Friday on CNBC’s “Trading Nation.” It came as J.P. Morgan Chase kicked off earnings season with a beat. “We’re still very positive on Q3 earnings season,” she said. “One day does not make a trend, and so we really think that Q3 is goi
‘We’re trusting the bounce’: PNC Financial says it’s too early to turn bearish on stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-13  Authors: stephanie landsman, maxim malinovsky, getty images, aly song, adam jeffery, mike blake, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, solid, early, stocks, agati, wall, turn, bounce, earnings, trusting, week, think, strong, bearish, really, markets, financial, season, pnc


'We're trusting the bounce': PNC Financial says it's too early to turn bearish on stocks

As earnings season gets underway, PNC Financial delivers two strategies to play in a volatile market 4:56 PM ET Fri, 12 Oct 2018 | 03:01

PNC Financial’s Amanda Agati isn’t ready to enter the bear camp despite a tumultuous week on Wall Street.

Agati, who is the firm’s co-chief investment strategist, believes a strong earnings season will revive the markets and boost confidence among investors.

“We’re trusting the bounce. Really, we think the fundamental backdrop for the economy and the markets continues to be very strong,” she said Friday on CNBC’s “Trading Nation.”

Her thoughts came as the major indexes were posting their worst week since March. The Dow jumped 287 points to 25,339.99 on Friday, but still lost 4 percent for the week. The S&P 500 rallied Friday to close 1.4 percent higher at 2,767.13.

It came as J.P. Morgan Chase kicked off earnings season with a beat. The bank reported a quarterly profit of $2.34 a share, topping the consensus by 9 cents. Its revenue also surpassed Street forecasts. However, its investment banking peers Citigroup and Wells Fargo reported mixed results.

“We’re still very positive on Q3 earnings season,” she said. “One day does not make a trend, and so we really think that Q3 is going to set up to be pretty solid. … As long as Q4 guidance looks pretty solid, too, I think that’s great news for the market.”

Yet, Agati expects volatility will stick around for a while — clarifying that she’s “not blindly bullish” due to the late economic cycle environment. Still. she has two ways to play it.

According to Agati, adopting a stock picker’s strategy instead of targeting broad sectors should garner solid profits for investors. She’s also turning positive on a group that Wall Street has been largely avoiding.

“The valuation story is getting really attractive: Big spreads in terms of valuations between EM [emerging markets] and the developed world,” Agati said. “That could be a really interesting backdrop sort of near-term opportunity for the market.”


Company: cnbc, Activity: cnbc, Date: 2018-10-13  Authors: stephanie landsman, maxim malinovsky, getty images, aly song, adam jeffery, mike blake, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, solid, early, stocks, agati, wall, turn, bounce, earnings, trusting, week, think, strong, bearish, really, markets, financial, season, pnc


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How to gain financial independence and enjoy a very early retirement

The FIRE (financial independence, retire early) movement is growing, with more and more people parting from their careers in their 30s and 40s. CNBC spoke to some of these young retirees to figure out how they did it. People should keep in mind the risks of forfeiting a paycheck, said Nick Foulks, a lead advisor at Great Waters Financial in Minneapolis. “People are living longer, and our dollars today have to last longer than they ever have before,” Foulks said. Particularity young retirees migh


The FIRE (financial independence, retire early) movement is growing, with more and more people parting from their careers in their 30s and 40s. CNBC spoke to some of these young retirees to figure out how they did it. People should keep in mind the risks of forfeiting a paycheck, said Nick Foulks, a lead advisor at Great Waters Financial in Minneapolis. “People are living longer, and our dollars today have to last longer than they ever have before,” Foulks said. Particularity young retirees migh
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How to gain financial independence and enjoy a very early retirement

How to retire in your 30s 10:31 AM ET Sat, 13 Oct 2018 | 01:19

Retiring comfortably in yours 60s or 70s can seem a high-wire act, so how are some people pulling it off without a wrinkle in their face?

The FIRE (financial independence, retire early) movement is growing, with more and more people parting from their careers in their 30s and 40s. CNBC spoke to some of these young retirees to figure out how they did it.

“I think it should be possible for everyone,” said Karsten Jeske, who retired this year at 44. “It’s conceptually extremely simple to do.”

People should keep in mind the risks of forfeiting a paycheck, said Nick Foulks, a lead advisor at Great Waters Financial in Minneapolis.

“People are living longer, and our dollars today have to last longer than they ever have before,” Foulks said. Particularity young retirees might find a lackluster Social Security check waiting for them, since the monthly amount you receive is based on an average of your working years.


Company: cnbc, Activity: cnbc, Date: 2018-10-13  Authors: annie nova, source, karsten jeske, tanja hester, -karsten jeske
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Trade war could cut China’s growth by nearly 2 percentage points over two years: IMF

At its worst, the ongoing trade tensions could knock 1.6 percentage points off China’s economic growth over the first two years, according to an analysis by the International Monetary Fund. The assessment took into account all current and proposed tariffs on Chinese goods that enter the U.S., as well as knock-on effects the trade tensions have on investor confidence and financial markets. Rhee told reporters that direct economic impact from the tariff fight between the U.S. and China is actually


At its worst, the ongoing trade tensions could knock 1.6 percentage points off China’s economic growth over the first two years, according to an analysis by the International Monetary Fund. The assessment took into account all current and proposed tariffs on Chinese goods that enter the U.S., as well as knock-on effects the trade tensions have on investor confidence and financial markets. Rhee told reporters that direct economic impact from the tariff fight between the U.S. and China is actually
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Trade war could cut China's growth by nearly 2 percentage points over two years: IMF

At its worst, the ongoing trade tensions could knock 1.6 percentage points off China’s economic growth over the first two years, according to an analysis by the International Monetary Fund.

The assessment took into account all current and proposed tariffs on Chinese goods that enter the U.S., as well as knock-on effects the trade tensions have on investor confidence and financial markets. But much of that impact is expected to be offset by the Chinese government’s policies to stimulate the economy, noted Changyong Rhee, director of the IMF’s Asia and Pacific Department.

The analysis was published on Friday in the IMF’s Regional Economic Outlook report focusing on the Asia Pacific region.

Rhee told reporters that direct economic impact from the tariff fight between the U.S. and China is actually “quite small.” What’s more detrimental is the hit to investor confidence, which has rattled financial markets and is likely to last for a while, he said.

“This is one of the reasons why we feel that headwinds may last longer,” Rhee said. “I don’t know what will be the end … I think the lessons we have taken is how much the global financial markets and real economy are well integrated, no one can be free from such shocks.”

“In the end, there will be no winner from the global trade war,” he said in Bali, Indonesia where the IMF and the World Bank are holding their annual meetings.


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Former White House economic advisor Gary Cohn joins blockchain start-up

Former White House economic advisor Gary Cohn is finally unveiling his next career move: blockchain. Cohn, who left the Trump administration in March, will join start-up Spring Labs as an advisor, the company announced in a press release Friday. The firm uses blockchain technology to share credit data between banks. “I am excited to actively support the Spring Labs team in the development of this important business and network.” Will McDonough, who was hired by Cohn at Goldman Sachs, is also run


Former White House economic advisor Gary Cohn is finally unveiling his next career move: blockchain. Cohn, who left the Trump administration in March, will join start-up Spring Labs as an advisor, the company announced in a press release Friday. The firm uses blockchain technology to share credit data between banks. “I am excited to actively support the Spring Labs team in the development of this important business and network.” Will McDonough, who was hired by Cohn at Goldman Sachs, is also run
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Keywords: news, cnbc, companies, technology, goldman, blockchain, economic, white, gary, joins, advisor, spring, financial, startup, company, information, house, cohn, sachs, labs


Former White House economic advisor Gary Cohn joins blockchain start-up

Former White House economic advisor Gary Cohn is finally unveiling his next career move: blockchain.

Cohn, who left the Trump administration in March, will join start-up Spring Labs as an advisor, the company announced in a press release Friday. The firm uses blockchain technology to share credit data between banks.

The former Goldman Sachs president told the Financial Times, which first reported the news, that this was a “unique opportunity,” and “an obvious place to take a very, very analogue industry and digitize.” Cohn has made very few public appearances since leaving the administration, and this is one of the first reports of his next job.

“I have been very interested in blockchain technology for a number of years, and Spring Labs is developing a network that could have profound implications for the financial services sector, among others,” Cohn said in a press release Friday. “I am excited to actively support the Spring Labs team in the development of this important business and network.”

The 20-person start-up uses blockchain, the technology that underpins cryptocurrencies such as bitcoin, to swap credit and identity information between banks and corporations. The task of safely transferring consumer credit information has plagued companies such as Equifax, which was hacked earlier this year, subsequently unveiling the private information of 143 million Americans.

Spring Labs has raised about $15 million to date in seed funding, according to Pitchbook. Other advisory board members include Bobby Mehta, former CEO of Transunion, and Brian Brooks, chief legal officer at cryptocurrency company Coinbase. The company was founded by members of the team and board of lending platform Avant.

Cohn was a key player in drafting the GOP tax reform package, which was voted through Congress and signed by President Donald Trump late last year. He left the White House following disagreements over plans to implement aluminum and steel tariffs.

Cohn isn’t the first executive to go from Wall Street to the new frontier of blockchain. Former head of J.P. Morgan global commodities Blythe Masters is now CEO of a blockchain company, and Goldman Sachs alumni Matthew Goetz started a cryptocurrency hedge fund. Will McDonough, who was hired by Cohn at Goldman Sachs, is also running a blockchain firm called iCash.

While cryptocurrency has been a punching bag for some Wall Street CEOs, its underlying technology is widely applauded and some compare its potential to the internet. Others are still skeptical. Economist Nouriel Roubini, one of the few who predicted the 2008 financial crisis, told senators in a hearing this week that “blockchain is the most over-hyped — and least useful — technology in human history.”


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: kate rooney, getty images
Keywords: news, cnbc, companies, technology, goldman, blockchain, economic, white, gary, joins, advisor, spring, financial, startup, company, information, house, cohn, sachs, labs


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3 things you should never do when the stock market tanks

James C. Kelly, a wealth strategist at PNC Bank, tells CNBC Make It that “volatility happens” and that financial strategists believe these recent swings are short-term, not the beginning of a long-term correction or bear market. Greg McBride, chief financial analyst at consumer financial company Bankrate, agrees: “Putting the market volatility in context,” he tells CNBC Make It, “the stock market is still in positive territory for the year.” “Panic-selling is the worst thing you can do,” Joe Mal


James C. Kelly, a wealth strategist at PNC Bank, tells CNBC Make It that “volatility happens” and that financial strategists believe these recent swings are short-term, not the beginning of a long-term correction or bear market. Greg McBride, chief financial analyst at consumer financial company Bankrate, agrees: “Putting the market volatility in context,” he tells CNBC Make It, “the stock market is still in positive territory for the year.” “Panic-selling is the worst thing you can do,” Joe Mal
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Keywords: news, cnbc, companies, thing, longterm, tanks, volatility, stock, tells, worst, things, market, financial, mcbride, stocks


3 things you should never do when the stock market tanks

James C. Kelly, a wealth strategist at PNC Bank, tells CNBC Make It that “volatility happens” and that financial strategists believe these recent swings are short-term, not the beginning of a long-term correction or bear market.

Greg McBride, chief financial analyst at consumer financial company Bankrate, agrees: “Putting the market volatility in context,” he tells CNBC Make It, “the stock market is still in positive territory for the year.”

This could also be an opportunity to re-balance your portfolio. Be sure you’re including a mix of stocks, bonds and other securities to lessen the impact of any potential loss. Consider buying more stocks while prices are low, but don’t give into the temptation to “panic-sell.”

“Panic-selling is the worst thing you can do,” Joe Mallen, chief investment officer at Helios Quantitative Research, tells CNBC Make It. Instead, “look for opportunities to put unused cash into investments you have been considering. Consider it a time when everything is briefly on sale and buy into broad market funds or individual stocks you believe in long term.”

“The best thing would be to buy more, or at the very least hold tight,” McBride adds. “The worst thing to do is sell into a market decline if your long-term objectives haven’t changed.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: shawn m carter, getty images, caiaimage robert daly, -joe mallen, chief investment officer at helios quantitative re
Keywords: news, cnbc, companies, thing, longterm, tanks, volatility, stock, tells, worst, things, market, financial, mcbride, stocks


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Navigating fintech’s rise: IMF, World Bank launch guide for policymakers

The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech. The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings. Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Dire


The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech. The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings. Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Dire
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Navigating fintech's rise: IMF, World Bank launch guide for policymakers

The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech.

The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings.

The paper outlines 12 “elements” or considerations that the IMF, the World Bank and governments can keep in mind when designing policies and regulations that can maximize the benefits of fintech while keeping financial systems sound.

Those “elements” include using fintech to promote financial inclusion, allowing new technology players to have level playing fields with existing companies and having countries work together to protect the global financial system.

Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Director Christine Lagarde said in a statement.

But, new technology could threaten existing financial systems. For example, volatility in the price of cryptocurrencies has raised concerns about investor protection, according to the paper.

“Fintech can have a major social and economic impact for them and across the membership in general. All countries are trying to reap these benefits, while also mitigating the risks,” Lagarde said.

“We need greater international cooperation to achieve that, and to make sure the fintech revolution benefits the many and not just the few,” she added.

World Bank Group President Jim Yong Kim said fintech would be particularly helpful to low-income countries, where access to financial services is low.

Both organizations said the paper doesn’t represent current work, nor does it aim to provide specific guidance or policy advice. They will, however, start to develop specific programs on fintech.

The IMF will focus initially on the implications on monetary and financial stability and how international monetary systems and global financial safety nets evolve. The World Bank will work on using fintech to deepen financial markets, enhance responsible access to financial services, and improve cross-border payments and remittance transfer systems.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: yen nee lee
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Self-made millionaire: Buying a new car is ‘the single worst financial decision’

A brand new car looks and smells good — but it’s never worth the price, says self-made millionaire and bestselling author David Bach. “Nothing you will do in your lifetime, realistically, will waste more money than buying a new car,” he tells CNBC Make It. “It’s the single worst financial decision millennials will ever make.” To make matters worse, “most people borrow money to buy that car,” says Bach. “Why would you borrow money to buy an asset that immediately goes down in value by 30 percent?


A brand new car looks and smells good — but it’s never worth the price, says self-made millionaire and bestselling author David Bach. “Nothing you will do in your lifetime, realistically, will waste more money than buying a new car,” he tells CNBC Make It. “It’s the single worst financial decision millennials will ever make.” To make matters worse, “most people borrow money to buy that car,” says Bach. “Why would you borrow money to buy an asset that immediately goes down in value by 30 percent?
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Keywords: news, cnbc, companies, selfmade, good, money, brand, financial, buying, bach, worth, decision, car, 30, buy, borrow, value, worst, single, millionaire


Self-made millionaire: Buying a new car is 'the single worst financial decision'

A brand new car looks and smells good — but it’s never worth the price, says self-made millionaire and bestselling author David Bach.

“Nothing you will do in your lifetime, realistically, will waste more money than buying a new car,” he tells CNBC Make It. “It’s the single worst financial decision millennials will ever make.”

That’s because the moment you drive it off the lot, the vehicle starts to depreciate: Your car’s value typically decreases 20 to 30 percent by the end of the first year and, in five years, it can lose 60 percent or more of its initial value.

To make matters worse, “most people borrow money to buy that car,” says Bach. “Why would you borrow money to buy an asset that immediately goes down in value by 30 percent?”

The good news is, you can get a shiny, nice-smelling car without breaking the bank, Bach says: “Buy a car that’s coming off of a two- to three-year lease, because that car is almost brand new and you can buy it at that 30 percent discount.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: kathleen elkins, source, cnbc make it
Keywords: news, cnbc, companies, selfmade, good, money, brand, financial, buying, bach, worth, decision, car, 30, buy, borrow, value, worst, single, millionaire


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5 ways college students can get the most financial aid

Every year, the U.S. Department of Education gives over $120 billion in federal grants, loans and work-study funds to more than 13 million college students, making it the largest provider of student financial aid in the country. In order to receive their share of these funds, students must complete the Free Application for Federal Student Aid (FAFSA). Students who complete the FAFSA can qualify for up to $30,000 in aid. Eventually, students will need to send their FAFSA information to the school


Every year, the U.S. Department of Education gives over $120 billion in federal grants, loans and work-study funds to more than 13 million college students, making it the largest provider of student financial aid in the country. In order to receive their share of these funds, students must complete the Free Application for Federal Student Aid (FAFSA). Students who complete the FAFSA can qualify for up to $30,000 in aid. Eventually, students will need to send their FAFSA information to the school
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5 ways college students can get the most financial aid

Every year, the U.S. Department of Education gives over $120 billion in federal grants, loans and work-study funds to more than 13 million college students, making it the largest provider of student financial aid in the country. In order to receive their share of these funds, students must complete the Free Application for Federal Student Aid (FAFSA).

Students who complete the FAFSA can qualify for up to $30,000 in aid. Nearly every student is eligible for some form of financial assistance, and it costs nothing to apply.

“Aid is available for anyone with a household income below $250,000 a year,” says Javice. “So it’s really important as FAFSA season comes up that people don’t forget that there is no such thing as being too rich to file FAFSA.”

To complete the FAFSA, students will need a copy of their family’s tax returns as well as a bank statement in order to illustrate how much your family earns and how much you are able to pay. Eventually, students will need to send their FAFSA information to the schools they are interested in attending.

But your chance to maximize your college aid package doesn’t end once you’ve submitted your FAFSA application.

“There is an appeal process,” college admissions expert Danny Ruderman tells CNBC Make It. “Once you submit the FAFSA, be sure to submit supplements or new addendums.” The Department of Education allows families to appeal because, he says, “you can fill out the FAFSA in December, and by the time that your child is going [to college] the next fall, things can change.”


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: abigail hess, hero images, getty images, peopleimages
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Trade tensions could trigger another global financial crisis: IMF

Risks are building up in the global financial system, and a further escalation in trade tensions could push the situation over the edge, the International Monetary Fund warned. Investors have appeared complacent, however, according to the IMF’s latest Global Financial Stability Report, which was released on Wednesday. The report, published twice a year, contains the fund’s assessment of global financial conditions and highlights risks in the system. But the uncertainties surrounding trade could


Risks are building up in the global financial system, and a further escalation in trade tensions could push the situation over the edge, the International Monetary Fund warned. Investors have appeared complacent, however, according to the IMF’s latest Global Financial Stability Report, which was released on Wednesday. The report, published twice a year, contains the fund’s assessment of global financial conditions and highlights risks in the system. But the uncertainties surrounding trade could
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Trade tensions could trigger another global financial crisis: IMF

Risks are building up in the global financial system, and a further escalation in trade tensions could push the situation over the edge, the International Monetary Fund warned.

Investors have appeared complacent, however, according to the IMF’s latest Global Financial Stability Report, which was released on Wednesday. The report, published twice a year, contains the fund’s assessment of global financial conditions and highlights risks in the system.

Stock prices — particularly those in the U.S. — have hit record-high levels multiple times over the past year, which is an indication that investors have continued to take on risks. But the uncertainties surrounding trade could cause such sentiment to turn quickly and trigger a sudden sell-off in financial markets, the report said.

“A further escalation of trade tensions, as well as rising geopolitical risks and policy uncertainty in major economies, could lead to a sudden deterioration in risk sentiment, triggering a broad-based correction in global capital markets and a sharp tightening of global financial conditions,” the fund said in the report.

The IMF said on Tuesday that disruptions to global trade is threatening growth. It cut its global growth forecasts for 2018 and 2019 by 0.2 percentage points to 3.7 percent, and lowered projections for the increase in goods and services trade worldwide.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: yen nee lee, yuri gripas
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Robo-advisor Wealthsimple will likely raise more funding and definitely wants to IPO, CEO says

But Katchen added that Wealthsimple doesn’t yet have a timeframe in mind as to when it will seek more capital from investors. The company’s most recent round of funding, where it raised $51 million from Power Financial, was announced back in February. Katchen said Wealthsimple wants to eventually launch an initial public offering (IPO), but that this was still “several years out” for the company. “Our intention would be someday to take the company public,” Katchen said. “We want to build one of


But Katchen added that Wealthsimple doesn’t yet have a timeframe in mind as to when it will seek more capital from investors. The company’s most recent round of funding, where it raised $51 million from Power Financial, was announced back in February. Katchen said Wealthsimple wants to eventually launch an initial public offering (IPO), but that this was still “several years out” for the company. “Our intention would be someday to take the company public,” Katchen said. “We want to build one of
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Robo-advisor Wealthsimple will likely raise more funding and definitely wants to IPO, CEO says

Online investment management start-up Wealthsimple will “probably” look to raise more money to fuel its growth plans and is set on eventually going public, its chief executive told CNBC.

The four-year-old firm, backed by Canadian asset manager Power Financial, has so far raised a total of almost 170 million Canadian dollars ($129 million), and its boss said it doesn’t plan on putting the brakes on growth any time soon.

“We’ll probably raise some more capital over time to get us to where we want to be,” Michael Katchen told CNBC in a phone interview Wednesday. “For us it’s all about growth, we’re growing really fast and we have partners that are willing to invest in helping us grow even faster.”

“If we didn’t have that, we’d have to slow things down, but given what we see is a massive opportunity over the coming five years to really reshape what investment advice services look like around the world, we don’t plan to slow down.”

“And so we might take on some extra capital to accelerate those efforts even further and so long as the fundamental business that we’re building is attractive, we’ll find other very smart investors, and perhaps Power again, to back that vision.”

But Katchen added that Wealthsimple doesn’t yet have a timeframe in mind as to when it will seek more capital from investors. “We’re not in a rush, we’re extremely well capitalized,” he said.

The company’s most recent round of funding, where it raised $51 million from Power Financial, was announced back in February.

Wealthsimple’s platform is a robo-advisor that uses algorithms to automate financial advice and only has a handful of human advisors to answer client queries. The firm has also branched out into savings and pension products recently.

Its services are currently available in Canada, the U.S. and Britain. In the long term, Wealthsimple’s boss sees the company expanding to markets beyond those three countries.

“We have plans for other markets over time as well, but we’re going to focus on these three for the time being,” he said, adding: “The three share a lot of very similar attributes and a lot of similar problems that we’re trying to solve.”

Wealthsimple currently has more than $3 billion of assets under management and 100,000 clients under its belt. Its primary aim is to make investing easier for first-time and younger investors with little experience in investing.

The firm’s competitors range from established players like Vanguard and Fidelity to rival robo-advisors Betterment and Wealthfront.

Katchen said Wealthsimple wants to eventually launch an initial public offering (IPO), but that this was still “several years out” for the company.

“Our intention would be someday to take the company public,” Katchen said. “We want to build one of the next great independent financial services companies, and for us that means an IPO sometime, but we’re not in a rush to do that and that’s kind of several years out for us.”


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: ryan browne, christinne muschi, bloomberg, getty images
Keywords: news, cnbc, companies, financial, ipo, services, roboadvisor, wants, likely, katchen, growth, raise, power, wealthsimple, million, definitely, ceo, funding, capital, investors, public


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