Company Overview
Wealth Wizards is a prominent financial advice technology provider based in the United Kingdom. Established in 2009, its primary mission is to make financial guidance and advice more affordable and accessible. The company is headquartered at Wizards House, 8 Athena Court, Tachbrook Park, Leamington Spa, CV34 6RT. Wealth Wizards has been pioneering the automation of financial advice in the UK market, with notable innovation in its offerings.
Acquisition by Royal London
Wealth Wizards is set to be acquired by Royal London, the UK's largest mutual life, pensions, and investment company. This strategic acquisition signifies a mutual commitment to enhance the accessibility and affordability of financial advice, leveraging both companies' strengths in technology and service offerings.
Products and Services
Wealth Wizards provides an innovative Software-as-a-Service (SaaS) platform known as Turo, designed for financial advisors to automate essential components of the financial advice process. Additionally, the MyEva application functions as a digital advisor in the employer market, serving over 45,000 employees across 50 UK employers. These platforms streamline financial planning through:
- Pensions and Investments: Offering straightforward, jargon-free digital journeys to simplify options for customers.
- Retirement Planning: Crafted experiences that lead expertly to either guidance or advice.
- Financial Health Checks: Quick assessments to boost financial confidence and well-being among customers.
Key Statistics
- Facilitated over 500k+ user engagements with personalized financial journeys.
- Achieved a 95% interaction rate with tailored choices.
- Advised on £1.3 billion in pension consolidation.
- Identified £16.5 million in unclaimed potential benefits through their benefits calculator.
Leadership Team
The leadership at Wealth Wizards includes seasoned professionals committed to driving technological and financial innovations:
- Ben Hampton – Chief Executive Officer
- Lynn Smith – Chief People and Customer Officer
- Tony Vail – Chief Advice and Strategy Officer
- Mark Kiddell – Chief Commercial Officer
- Sarah Yellowlees – Chief Product Officer
- Andy Varney – Chief Financial Officer
- Phil McGaw – Chief Technology Officer
Compliance and Certifications
Wealth Wizards operates under strict regulatory frameworks and is authorized and regulated by the Financial Conduct Authority (FCA). The company is also independently audited and certified to ISO/IEC 27001:2022 and ISO27018:2019 standards by the British Standards Institute, ensuring rigorous data security and best practices.
Competitor Analysis
Wealth Wizards competes in a robust sector with several firms offering advanced financial advisory services through technology:
1. Acuris Global
- Revenue: $55.7 Million
- Employees: 241
- Focus: Global corporate financial intelligence and actionable insights for financial services.
2. Pareto Financial Planning
- Revenue: $12.5 Million
- Employees: 66
- Focus: Complete suite of financial planning services, driven by client outcomes.
3. Mackenzie Taylor Wealth Management
- Revenue: $16.2 Million
- Employees: 77
- Focus: Independent financial management with bespoke client services.
4. The Mortgage Lender
- Revenue: $48 Million
- Employees: 208
- Focus: A leading entity in the mortgage industry, providing robust mortgage lending services.
5. 11FS
- Revenue: $85.1 Million
- Employees: 324
- Focus: Consultancy and digital services to elevate financial service operations.
Strategic Positioning
Wealth Wizards differentiates itself by merging financial expertise with advanced AI and software engineering through its Turo platform, focusing on providing both digital-first interactions and traditional advisories needing compliance support. This strategy addresses critical pain points such as efficiency and compliance in the financial services sector. In a landscape dominated by powerful competitors like Acuris and 11FS, Wealth Wizards excels by concentrating on regulated, client-specific financial advice that meets compliance demands, thus reinforcing its competitive advantage.
Wealth Wizards continues to leverage technology-driven insights to expand its influence in the financial advice sector, benefiting from the anticipated integration with Royal London, which will enhance their capabilities to serve the UK market more effectively.
