Aviva has agreed, for an undisclosed fee and subject to regulatory approval, to acquire "a majority shareholding" in Wealthify Group, the holding company of robo-investment service Wealthify.
The insurer said the move was part of its strategy to build customer loyalty by providing a wide range of insurance and investment services managed through its digital MyAviva hub. It added the investment would support Wealthify's development, helping to accelerate the Cardiff-based business's future growth plans. Wealthify launched in April 2016 with the aim of attracting millennials and those new to investment by providing a simple, low-fee digital investment service. For a minimum investment of £1, customers invest in one of five diversified investment plans through ISAs and genera...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
