August 18, 2015

LV= invests in leading robo-adviser Wealth Wizards

We are the UK's first fully-regulated online adviser scaling up automated financial advice across the industry.

Turo news
Retirement specialist LV= has taken a majority stake in Wealth Wizards Limited, the UK based automated advice experts.

LV= will inject development capital into Wealth Wizards which will enable the company to deliver on its ambition to develop a widely available ‘white-label’ automated advice platform. The deal will also see Wealth Wizards power CORA, LV=’s retirement advice service. 

CORA, which is supported by LV=’s in-house regulated telephone advice service, uses Wealth Wizards’ algorithm based advice platform to generate personal advice for pension savers planning for retirement. The remaining shares are owned by Wealth Wizards’ founding management team and the business will continue to operate its independent financial advice service which is focused on developing low-cost advice solutions for the workplace market. 

Richard Rowney, Managing Director of LV= Life and Pensions commented: “LV= has always championed the importance of advice in the retirement income market and we are pleased to agree this deal with Wealth Wizards. The way people fund their retirement is changing and so is the way that people access their savings and this deal is a great opportunity for us to support the development of digital solutions to meet the evolving demands of retiring consumers.” 

Andrew Firth, CEO of Wealth Wizards said: “This deal marks an important milestone in our development of digital advice solutions. CORA breaks new ground in the implementation of so called ‘robo-advice’ in the UK market and LV=’s investment will enable Wealth Wizards to continue to pioneer the development of innovative advice products.”

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Disclaimer

Wealth Wizards Benefits Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference 596641.
Registered Address: Wizards House, 8 Athena Court, Tachbrook Park, Leamington Spa, CV34 6RT.
Registered in England & Wales, No. 06030782. The information contained within this site is intended for UK consumers only and is subject to the UK regulatory regime.

Wealth Wizards®, Pension Wizard ®, Retirement Wizard ® and the wizard hat logo are registered trademarks; the trademarks, trade names and logos on this website, and the copyright and pending patent applications, are used by Wealth Wizards Advisers Limited under licence from Wealth Wizards Limited. Pension Tidy-up, Pension Predictor, Money Wizard, Advisor Wizard, Mortgage Wizard, Protection Wizard, Investment Wizard, Investor Wizard, Insurance Wizard, and ISA Wizard are trademarks and logos of Wealth Wizards Limited. 

© 2019 Wealth Wizards Limited.