Wealthify to Turn into Wholly Owned Subsidiary Inside Aviva Group

UK-based on-line funding service Wealthify introduced final week it has turn into a wholly-owned, however independently run, subsidiary inside insurance coverage and pensions large, Aviva Group.

Launched in 2016, Wealthify states it’s investing made easy and it’s on a mission to democratize investing by making it simple and inexpensive for everybody.

“Utilizing our digital financial savings & investments app and web site, anybody can turn into an investor in minutes, it doesn’t matter what your stage of data or expertise. Wealthify builds you an funding plan or ISA and manages it for you day-after-day. You can begin with as little as £1 and entry it any time it’s worthwhile to. We use know-how to maintain prices down, which we go onto clients by decrease charges.”

The corporate was backed with a major funding from Aviva in October 2017. The corporate famous that in 2018 it turned majority-owned by Aviva and this transaction contained the choice for the founders to promote their remaining shares to Aviva. 

As a part of the acquisition, Andrew Russell has been appointed as Wealthify’s new CEO. Russell has notably labored for Aviva for eleven years and has greater than 20 years of expertise in monetary companies. Co-founder and CEO, Richard Theo, has already left the corporate and Richard Avery-Wright will stand down as Chairman and member of the Funding Committee. Michelle Pearce-Burke continues with the enterprise in her put up as Chief Funding Officer and Chief Working Officer. The corporate added:

“We’d wish to take this chance to thank Richard Theo and we want him each success in his future endeavours. Richard has performed a serious half in making Wealthify the profitable firm it’s at present. His imaginative and prescient and onerous work have had a huge impact on the Fintech scene, particularly right here in Wales, and he has helped remodel the way in which individuals can entry simple and inexpensive investing.”