What A Year!

As we approach the end of what has been a roller-coaster ride of a year, I can only look back with pride and gratitude at how far we’ve come!

Pride for the incredible growth in our business this year. Betafolio, our model portfolio service, grew by over 750% - bagging the title of the fastest growing MPS in a land full of giants and behemoths. We made giant strides on our mission to rebuild the operating system for advice by expanding Timeline’s suite of products to include factfind, risk profiling, cashflow and decumulation planning.

Gratitude for our talented people who believe in our mission, build and ship new features, manage portfolios and work tirelessly to help improve client outcome. We grew our headcount by 50% in the past year alone, taking us to 30 insanely brilliant team members.

Gratitude for those financial planners who trusted our technology for planning their client’s future and have entrusted us with managing their clients’ assets. We wouldn’t be here without you.

As we look to the new year, I am even more persuaded by our mission to help people face their financial future with confidence by making financial planning more impactful and accessible. I am convinced that technology is key to unleashing the human adviser’s superpowers. The highest value of an adviser lies in questioning, listening, guiding, and coaching clients to live their best lives. Gathering data, crunching numbers, constructing and rebalancing portfolios are essential, but these aren’t the real deal. Indeed, this stuff often gets in the way of the adviser’s highest purpose but, thankfully, they niggly things are things technology can and should do better.

Perhaps my most profound discovery this year is the realisation that, we could redirect a fraction of the £5,5bn annual fees that asset managers and DFMs rake in from the £600bn in assets on adviser platforms towards rebuilding the adviser tech stack. And that’s what we’re going to do with Betafolio, and Timeline in the new year.

Financial planning is insanely hard to scale. It’s a personal, people-led service. Investment management, on the other hand is hugely scalable. But it relies on planning for its scale. Trouble is, asset managers keep all the economies of scale to themselves, rather than passing it on to improve efficiency in planning. And there’s a huge opportunity for us to change that by delivering low cost, globally diversified portfolio management services powered by technology that helps financial planners do their best work.

So, we’ve got work to do in the new year! To that end, I hope you have a restful break over the festive period and come back fired up to make a real difference.

Have a very merry Christmas and a wonderful new year!

Best Wishes,