The partnership initially launches with an automated Defined Benefit (DB) transfer robo-paraplanner, designed and developed by Wealth Wizards, ensuring that Mercer Jelf Financial Planning, continues to deliver consistent client outcomes safely and with the appropriate controls and governance in place for both existing and new customers.
Defined Benefit pensions make up a significant part of Mercer UK’s business, and as one of the most complex and topical areas in advice provision, Wealth Wizards and Mercer UK have worked closely together over a twelve-month period, to extensively scope, build and test this tailored solution.
Richard Wilson, UK Leader DC & Individual Wealth from Mercer UK comments:
“The new strategic partnership with Wealth Wizards will ensure that we can efficiently service more clients with quality, cost-effective and personalised advice, and ultimately help employers advance the financial health of their most vital asset – their people. The partnership is routed in shared values and an ambition to deliver positive automation, and the launch of our new automated DB pension transfer robo-paraplanner is a key milestone in our on-going drive to deliver the best, affordable and accessible advice to all of our UK clients.
“ The flexibility of the digital paraplanner & Smart Platform allows Wealth Wizards to continue to develop further digital advice solutions in the future for Mercer UK, across a number of advice areas including pension accumulation and decumulation.
Andrew Firth, Wealth Wizards Founder and CEO stated:
“We are committed to improving the financial wellbeing of the UK workforce by making all areas of advice accessible and affordable through effective and highly efficient digital advice solutions. We are therefore delighted to be working with a like-minded and forward-thinking partner such as Mercer UK. By jointly creating the DB pension transfer solution, together we have addressed one of the most complex and topical issues in advice provision today. We look forward to supporting Mercer UK in the future as they continue in their mission to utilise innovative digital advice solutions.
” Wealth Wizards recently launched Turo, its new artificial intelligence (AI) capability, that will provide access to faster, cutting-edge robo-advice. The power of Turo is its ability to rapidly configure a robo-adviser to match the advice policy of a specific practice. Using training data from historic or model compliant cases, the AI rapidly configures the advice software to match the existing or desired approach. The game-changing innovation will transform the way expert advice is delivered, reducing the time per case by weeks, and beginning the democratisation of advice.
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