Wealthify
Wealthify
Type | Limited company |
|---|---|
| Industry | Online Investment Management |
| Founded | 2014 |
| Headquarters | Cardiff, United Kingdom |
Area served | United Kingdom |
| Website | Wealthify.com |
Wealthify.com is a discretionary online investment service which builds and manages investment plans for its customers.
Wealthify uses a mix of investments to create diversified plans which they then actively manage on their customers’ behalf.
Type | Limited company |
|---|---|
| Industry | Online Investment Management |
| Founded | 2014 |
| Headquarters | Cardiff, United Kingdom |
Area served | United Kingdom |
| Website | Wealthify.com |
Business model
Wealthify uses proprietary software and technology together with a team of investment experts to create and manage investments plans for its customers.
[13] The investment strategy combines passive investment vehicles (like an exchange-traded fund), with smart algorithms (based on the Sharpe Ratio) to track the markets for steady, long-term growth. This type of service is becoming popularly known as robo-advice. However, since Wealthify does not provide advice and uses a mix of smart technology and human intelligence, their service is best described as robo-investing. [14]
In February 2017, Wealthify announced the ability to white-label its technology to allow financial advisers to offer the service to their clients, via either an own-label or co-branded approach, implementable in as little as two months.
In March 2017, Wealthify lowered its minimum investment to £1 as part of its commitment to democratise investing and attract more people to give it a try.
History
The company was founded in 2014 by Richard Avery-Wright (Chairman of Wealthify, also CEO of RAW Capital Partners), [15] Richard Theo (CEO of Wealthify, also Managing Director of Activequote) [16] and Michelle Pearce [10] (Chief Investment Officer of Wealthify). In 2016, Wealthify received funding from the Welsh Government to assist with research, development and innovation. [10]
Wealthify's full launch took place in April 2016.
Wealthify raised £1.4m via a crowdfunding round with Seedrs in September and October 2016, surpassing their target and attracting around 760 shareholders to the business.
In February 2017, the company reported its first-year performance figures.
They beat the industry (ARC) benchmarks across all plans, as follows: Adventurous (28.5%) Ambitious (22.25%) Confident (18.28%) Tentative (11.86%) Cautious (8.86%). [10]
The online investment service launched its first app for iOS and Android in March 2017, giving customers quicker access to their investments and enhanced security features, like Touch ID.
Awards
Wealthify has received a good deal of industry recognition for its user experience, design and quality of service.
Some of these are listed below:
Named one of Techworld’s Top 10 UK FinTech Start-ups to watch in 2016.
One of Wales’ Digital Dozen 2016 awarded to companies that are making an impact on the UK’s economy through ground-breaking uses of technology and all things digital.
Crowdfest, the crowdfunding industries flagship event awarded Wealthify the title of the 'most investable company'.
[10] This was in relation to their crowdfunding campaign running on Seedrs in 2016.
Won two gold awards for its digital user experience at the 2016 UK Digital Experience Awards, December 2016.
Highly commended in the ‘Leading Innovation in Investor Engagement’ category at the UK Platform Awards, May 2016.
Boring Money gave Wealthify a Silver Best Buy Award in its latest awards.
Wealthify is rated 4.48 out of 5 by its customers from 61 reviews on reviews.co.uk.