The Globe and Mail reports in its Monday edition that two years after its growth stalled, bank challenger Wealthsimple Technologies has rebounded sharply, delivering a surge in assets under management (AUM). The Globe's Sean Silcoff and Clare O'Hara write that Wealthsimple has booked back-to-back record quarterly growth in assets, expanding by $6.1-billion in the fourth quarter of 2023, and $7.7-billion in the first quarter of 2024, as investors deposited funds across its savings and investing accounts. The billions of net new money has been flooding into multiple products. That includes the company opening more than a third of the country's 750,000 new tax-free first-home savings accounts. AUM was $38.7-billion on March 31, up from $18.3-billion at the end of 2022. The millennial and Gen Z-focused on-line financial services company had 2.36 million investment and banking clients on March 31, up 12 per cent year-over-year. "It was a ballistic quarter for Wealthsimple" with growth "across the field," IGM Financial chief executive James O'Sullivan, whose company owns 27.1 per cent of Toronto-based Wealthsimple, told analysts Friday. "It was crypto. It was equities. It was options. It was well balanced over all."