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Aviva takes complete ownership of Wealthify

Source: Wealthify

Wealthify is starting a new chapter as we embark on the next phase of our growth.

Since we launched in 2016, our investment platform has grown significantly, expanding the original offering of Stocks and Shares ISAs and General Investment Accounts to now include award-winning Ethical Investments, Junior Stocks and Shares ISAs, and more recently Self-Invested Personal Pensions. Wealthify now employs more than 40 people and manages the investments of 30,000 customers.

To help fund this journey, in 2018 Wealthify became majority owned by Aviva and this transaction contained the option for the founders to sell their remaining shares to Aviva. Following the natural progression of Wealthify’s growth, the founders have now exercised this option, and today Wealthify becomes a wholly owned, but independently run, subsidiary within the Aviva Group.

As part of this change, Andrew Russell has been appointed as our new Chief Executive Officer. Andy has worked for Aviva for eleven years and has over 20 years’ experience in financial services. With many years of direct-to-consumer savings, investments and leadership experience, Andy is well placed to lead Wealthify on the next stage of its evolution whilst nurturing the Wealthify personality that continues to drive its growth. Andy is passionate about our mission to help make our customers’ money work harder through affordable and accessible investing.

Co-founder and Chief Executive Officer, Richard Theo, will leave the business today and Richard Avery-Wright will stand down as Chairman and member of the Investment Committee at a time that is right for the business. Michelle Pearce-Burke continues with the business in her post as Chief Investment Officer and Chief Operating Officer, together with the other members of the Senior Leadership Team.

We’d like to take this opportunity to thank Richard Theo and we wish him every success in his future endeavours. Richard has played a major part in making Wealthify the successful company it is today. His vision and hard work have had a big impact on the Fintech scene, especially here in Wales, and he has helped transform the way people can access easy and affordable investing.

As our next phase begins, our new CEO Andy Russell will foster the creativity and agility within Wealthify, and with the backing of the strength and experience of Aviva reaffirmed, begin the next chapter of our growth. The Wealthify team will remain focused on providing the best customer experience through our website and app, and we’ll continue to work hard to protect and grow our customers’ investments, so that our customers remain the strongest advocates of our business.

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