A leading wealth portal, myprosperity today launched its platform in the United Kingdom, eyeing off a market opportunity of around 27 million households as it gears up to help Brits better manage their finances and provide advisers with the tools to attract and retain clients.
The platform, which has experienced sizeable growth in its home market, Australia, now sees the UK as its next significant opportunity, especially given the openness of consumers and advisers to embrace financial technology.
Working with some of the leading advisery firms and financial institutions around the world, myprosperity has seen interest in its platform step up as traditional corporations look for technology solutions to improve compliance and client engagement.
“We are excited to launch myprosperity in the UK and have already experienced a huge amount of energy from local financial advisers who wish to take a whole of wealth view to help their clients grow personal wealth,” myprosperity Founder, Peter McCarthy said.
“With more than $42 billion in assets and $7 billion in liabilities registered on the platform, myprosperity is quickly evolving into a platform which has a solid grasp on the financial stability of households around the world.”
Over the past 2.5 years, myprosperity has quadrupled revenues, grown its partner base from 180 to over 650, expanded the team from 12 to 42 and made significant advancements in product development. From its inception in 2011, myprosperity has raised $12.5million in capital primarily from high net worth investors including former PwC global board member, Michael Happel and Xero board member Craig Winkler.