Financial & Professional Services

Wealthify

One of Wales’ Digital Dozen
Wealthify

Wealthify is a multi-award-winning online investment company based in Penarth, just outside Cardiff. Their creative and technology-driven approach to helping customers invest has worked to bolster Wales’ reputation as one of the best places in the world for digital innovation.

With investing, a lot of analysis, research, and consideration is required, and that same level of attention was needed to find the perfect location in the UK to set up the business. After some careful planning, Wealthify chose Penarth as their base as it ticked all the boxes needed for a growing business.

First launched in 2016, Wealthify has grown sustainably yet substantially in those five years, growing to more than 50 team members, and helping tens of thousands of customers make their money work harder. By combining a technological approach to investing with a customer-focused service, Wealthify have removed many barriers that have previously stopped people from investing – making it accessible, affordable, and understandable.

“With Wealthify, we wanted to create something for everyone and help people who’ve never even thought about investing before dip their toes in without fear,” said Michelle Pearce-Burke, Wealthify’s co-founder and COO. “Interest rates have been low since the 2008 Financial Crisis, and so many people – often without realising it – are seeing their savings lose value over the long term by not keeping pace with inflation.”

“We offer people a way to make their money work harder, without having to spend hours researching, understanding tools, or constantly monitoring their investments. We put in the hard work, while our customers enjoy the potential returns that investing offers.”

 Shortly after officially launching in April 2016, Wealthify was named as one of Wales’s Digital Dozen – a group of bold companies enhancing the country’s reputation as one of the best places in the world to do digital innovation.

“We love being in Cardiff and Wales, it offers a more relaxed way of life, and that’s part of the values you need to give people if you want to get them to come and join an exciting, ambitious start-up company,” explained Michelle when speaking on why Wealthify chose Wales for its HQ.

“Wales is a great place to start a business and the decision to locate in Cardiff was definitely strategic. The dedication and hard work ethic of the Welsh workforce is impressive – there’s a real, innate passion for providing good service and the low operating costs compared to other major UK cities is an obvious advantage.”

Since inception, Wealthify has won many acclaimed industry awards, including Best Investment Provider in the 2020 British Bank Awards. This success positions Wealthify as one of the leading companies behind Cardiff’s emergence as a leading financial technology centre outside of London.

“The Welsh Government has put in a lot of work to create a supportive environment for small businesses, helping entrepreneurs and businesses in exciting new industries thrive,” said Michelle. “The potential for growth here is huge, like Cardiff itself being one of the fastest-growing cities in Europe. We’ve gone from a small start up to a small business in just five years and are planning on continuing to add jobs and expanding our business for many years to come.”

The true measure of a company’s success is in their customer’s happiness, and Wealthify are industry leading in that respect with an Excellent score of 4.6 on Trustpilot. Many of their awards have been decided by public vote, showing overwhelming support by their customers, often celebrating the transparency and simplicity that Wealthify operates with.

In 2020, Wealthify became fully owned by Aviva – the UK’s largest insurance provider and a global financial services company. This support gives Wealthify all the benefits of Aviva’s experience and resources, while continuing to operate as an independent business. This change saw a handover of Chief Executive Officer, with co-founder Richard Theo stepping aside for Andrew Russell.

“It’s brilliant to see how far Wealthify has come in just five years, and you can see the evidence that being based in Wales has helped us to get there. There’s a huge tech boom happening in Cardiff right now, and I’m really excited that we get to be a part of it,” commented Andrew Russell.




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