Guernsey-connected online investment business Wealthify is experiencing huge growth thanks to its innovation, according to its directors.
Wealthify is an online investment platform that enables anyone to become an investor. It provides a level playing field and access to diversified investment portfolios for people who might have traditionally found it difficult to allocate relatively small amounts of savings efficiently.
It was launched in April 2016 with significant financial backing and operational expertise from Guernsey. It now has more than 5,000 customers and the rate of growth of assets under management is accelerating, having already doubled every few months.
Chairman Richard Avery-Wright, also of Guernsey-based asset management company RAW Capital Partners, said the rapid growth was due to a great idea, a fantastic team and launching it at the right time.
"We've built a system that is better, faster and cheaper than our competitors and the market likes that," he said. "Our minimum investment is just £1 and, far from being a gimmick, a £1 Wealthify investment plan offers customers access to around 10 investment funds, containing as many as 11,000 underlying investments including shares and bonds from lots of different regions.
"Our business has been described as a logistics business – a transportation method for people who wish to access ready-made investment portfolios at the touch of a button. The dedicated Wealthify website and app is highly secure, robust, scalable and can manage mass-market volume.
"Our mission is to convert one million savers into investors within a decade and enhance their wealth. The first 13 months of business have been hugely successful and a wonderful launch pad for achieving our goal.
"It took a large amount of investment in time and money to get Wealthify to where it is today. Much of the capital has come from the Channel Islands, especially Guernsey. It's another example of how Guernsey can partner with the UK and deliver the investment and entrepreneurial spirit it needs to achieve something special."
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.www.guernseyfinance.com
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