Aviva’s robot advisers

AN INVESTMENT business for young people has won financial backing from major insurer Aviva.

Wealthify targets those in their 20s and 30s who are investing for the first time, allowing them to put in as little as £1.

With all-in fees of up to 0.89pc, the Cardiff-based firm uses so- called roboadvisers – computer algorithms – to decide on an investment strategy for customers. Aviva is thought to have spent a multi-millionpound sum buying a majority stake in the firm, which launched in 2014.

Blair Turnbull, managing director of Aviva’s UK digital division, said: ‘It aims to take the complexity out of investing. It is remarkably easy to use.’