1. UK FinTech start-up Munnypot announces robo-advice
service for mass market
Munnypot (www.munnypot.com) launching robo-advice service to help those trapped in UK’s
financial advice gap
London –Autumn 2016 - A new service aiming to offer affordable financial advice begins its pre-
launch today and is due to be available to the UK public in the autumn.
Munnypot is a robo-advice and investment service that anyone can use to get straightforward
financial advice in a language they can understand, at a fraction of the cost of a financial adviser or
wealth manager. Munnypot fees can work out to a fraction of the cost of traditional ways of
investing.
Munnypot is aiming to address the financial advice gap affecting 16 million people across Britain1
.
As of May 2015, 47% of consumers had not received any form of financial advice within the last
three years2
, yet research suggests that the demand is there - up to 5.4 million extra people would
consider paying for advice if it cost less3
. This is needed, because 57% of UK working adults have less
than one month of income saved4
. It is widely believed that lack of clear and affordable guidance
may be largely to blame.
Munnypot combines the latest robo-advice technology with human expertise to learn about your
financial situation, set financial goals, invest your money, and keep you posted on performance.

2. Users begin by answering simple questions online to define their life goals. This is done using natural
language and a conversational style. They can then 'play’ with different scenarios to understand how
their financial future could be affected by different decisions. Unlike some other services, Munnypot
goes beyond simply making suggestions, and instead plans to offer clear advice on the best way for a
person to invest their money, via one of five tracker products. It then keeps consumers informed on
performance, advising them on the possible decisions to take if things change.
The service is available to all - Munnypot works the same for a £1,000 investment as it does for a
£1m investment. Everyone gets the same great advice and dedicated customer service, initially
offered via Munnypot.com.
Munnypot is co-founded by seasoned financial services entrepreneurs Simon Redgrove and Andrew
Fay and backed by significant investment.
Simon Redgrove, co-founder of Munnypot, said, "The UK's current system of financial advice is
profoundly unfair and must change. Millions are bamboozled by the variety and complexity of
financial products on the market. The financial service industry profits from this, charging sky-high
fees for advice, whilst often failing to outperform the market. We're on a mission to make financial
advice affordable and accessible to all, so that their money works harder for them. The Munnypot
product is like nothing else on the market – we can’t wait to hand it over to UK consumers."
Andrew Fay, co-founder of Munnypot, said, “The first generation of robo-advice services were,
frankly, too robotic and failed to actually give people advice. Munnypot is aiming to change that by
creating a more natural, intuitive experience that delivers actionable advice, rather than vague
recommendations.”
Munnypot is backed by the expertise of a range of best-of-breed partners, including SEI. Through the
SEI Wealth Platform, the organisation will provide outsourced investment operations, including
trading, custody and settlement services. SEI is also providing consultancy services to help bring the
proposition to market.
Brett Williams, Managing Director, SEI Wealth Platform, UK Private Banking, commented, “As a
consequence of the RDR, we have seen an increase in demand for automated advice solutions to help
those customers who are no longer being served by advisers, or for those that want to self-serve with
some help and guidance. We are delighted to be partnering with Munnypot, which we believe will be
a disruptive brand in the UK market and think the company’s user experience, mobile-first design and
simplicity will greatly appeal to a broad range of consumers, not just the tech savvy mass affluent

3. millennials. The innovative ongoing alert and messaging framework is extremely powerful and gives
customers the chance to be regularly updated on their financial matters.”
Risk warning: Please note that with investment comes risk. The value of your investments and any
income from them can go down as well as up and you may get back less than you originally invest.
You should ensure that you fully understand the risks before investing
Munnypot is a trading name of i-saver Global Limited which is an Appointed Representative of
Resolution Compliance Limited which is authorised and regulated by The Financial Conduct
Authority. FRN 574048.
Notes to editors:
1 Financial Advice Market Review: final report, FCA, 2016 (SOURCE)
2 Mintel, Consumers and financial advice, May 2015 (SOURCE)
3 Citizens Advice Bureau, The four advice gaps, October 2015 (SOURCE)
4 Money Advice Service (SOURCE)
About Munnypot (www.munnypot.com):
Munnypot is a robo-advice and investment service that anyone can use to get straightforward
financial advice in a language they can understand, at a fraction of the cost of a financial adviser or
wealth manager. Our co-founders are Simon Redgrove and Andrew Fay. Simon and Andrew
previously founded Cavanagh Group Plc. In May 2011 Cavanagh Group PLC was acquired by Close
Brothers for £26.2m with assets under advice in excess of £1.5bn.
About the SEI Wealth Platform:
The SEI Wealth Platform (the Platform) is an outsourcing solution for wealth managers
encompassing wealth processing services and wealth management programs, combined with
business process expertise. With the Platform, SEI provides wealth management organisations with
the infrastructure, operations, and administrative support necessary to capitalise on their strategic
objectives in a constantly shifting market. The SEI Wealth Platform supports trading and transactions
on 136 stock exchanges in 52 countries and 40 currencies, through the use of straight-through
processing and a single operating infrastructure environment. For more information, visit:
http://www.seic.com/enUK/banks/288.htm.
To find out more or register for free www.munnypot.com