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Wealth Wizards

Category
Scaleup Innovator

Vertical
Wealth management, Financial Education and Inclusion

Location
Leamington Spa

Wealth Wizards (WW) was founded in 2009 to take on the challenge of automating financial advice for the digital age. Our founding purpose is to make financial advice affordable and accessible to everyone, and this mission and ethos still drives us forward today.

Today we are one of the UK’s leading financial advice technology providers with a growing B2B customer base including leading life assurers, tier one banks, wealth firms, EBC’s and one of the largest advice networks in the market. We also operate our own digital financial adviser (MyEva).

Solution overview

Turo is our multi-tenant software-as-a-service (SaaS) platform. This enables our customers to automate regulated client journeys as well as engaging and advising on everyday financial planning decisions.

Turo supports two core propositions. Whilst related to one another, they attract different white-label customers. Our tenants may require consumer-led and/or human-assisted (hybrid) financial guidance and advice. Whichever they choose, they’re both designed with improved financial wellbeing in mind.

Turo’s consumer-led and human-assisted capabilites can compress the full at-retirement advice process down from 35 hours to 8.75 hours. This is achieved by:

  • Reducing Fact Find time by focusing just on the key data required to produce a recommendation.
  • Reducing suitability report writing from 6-7 hours to 30-35 minutes.
  • 90% + automation within report writing to allow for more personalisation.
  • Reducing diagnosis time from 4-7 hours to 1 hour.

MyEva is our regulated financial adviser delivered through our pioneering conversational interface. Operating in the competitive workplace market for financial wellbeing; over 50 employers have already subscribed to MyEva. The solution provides us with valuable insight into the needs of a diverse population of over 80,000 employees. This enables our continual development of digital engagement solutions.

 

Team Members

Simon Binney

Business Development Director

Blogs

Fragmented World: Letters of authority remain a significant barrier in the advice process

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Wealth Wizards launches Master Trust solution to increase member engagement.

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Master Trusts – increase AUM by improving member engagement

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