Enhancing our support for advice with the acquisition of Wealth Wizards from LV=

Royal London announced our intention to purchase Wealth Wizards, subject to regulatory approval.

Wealth Wizards is a market-leading fintech provider founded in 2009 with the goal of making financial advice accessible to all. Its technology is used to help make financial planners’ advice processes more efficient and to support employers seeking to help their employees make better financial decisions.

This acquisition shows our commitment to financial advisers and recognises the growing need for high quality, technology-enabled solutions to help improve efficiency in the provision of advice. Wealth Wizards’ proposition can automate key parts of the advice process and offer clients a digital interface which can help advisers deliver a great client experience, reduce risk and costs and scale their advice.

Andrew Firth, CEO of Wealth Wizards said:

Royal London is passionate about supporting financial planners and advisers and making guidance and financial advice more accessible and affordable. We are delighted to be joining a business that can invest in the long term and believes as strongly in the value of advice as we do. The deal is an excellent outcome for our clients, customers, colleagues and the business overall.

I want to thank LV= for the support they have given to Wealth Wizards as our principal investor since 2015. I wish them well for the future.

Barry O’Dwyer, CEO of Royal London, said:

We are impressed by the innovative technology offered by Wealth Wizards and are delighted they are joining our business. We see the positive impact of advice on customers’ lives every day and will work with advisers to help to overcome the advice gap in the UK.

This acquisition provides us with an opportunity to enhance the leading support and service we already provide with market-leading technology and processes that can help advisers become more efficient and broaden the offering we have for our workplace clients.

As a mutual, our investment decisions are solely driven by the benefits offered to customers and this acquisition is a great example of this in action. I look forward to welcoming Wealth Wizards to Royal London.

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The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.