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Wealth Wizards

Category
Scaleup Innovator

Vertical
Wealth management, Financial Education and Inclusion

Location
Leamington Spa

Wealth Wizards 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 still drives the business forward. Today, we are one of the UK’s leading financial advice technology providers.

The Wealth Wizards vision is a future where everybody in society has access to jargon-free, holistic financial advice and guidance, 24/7, from a regulated digital agent, supported by qualified human experts where required.

Turo is our market leading hybrid advice platform. It provides self-serve and hybrid financial guidance and advice, enabling financial advisers to acquire and serve more clients, more efficiently, while remaining 100% compliant. It is fully configurable to an organisation’s in-house advice policies and investment structures.

Self-serve pension and retirement guidance

Turo Self-serve enables retirement customers to ‘help themselves’ to guidance and advice via a client’s website or app. Our AI-enabled conversational interface takes them through a simple financial health check. A key part of this health check is identifying the user’s target annual income at retirement, based on the PLSA’s retirement living standards.

Hybrid advice / retirement capability:

Turo’s hybrid / automated capability 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.

 

 

 

 

Team Members

Simon Binney

Business Development Director

Blogs

Why Wealth Managers Need to Focus on the Younger Investor

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Hybrid advice model could be the norm within 3-5 years.

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How implementing a hybrid advice model could increase your revenues by 225%.

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