Company: Aventur
Company Description: Aventur is an exciting new high growth FinTech business, bringing an unprecedented approach to personal finance in the UK. Our wealth management solution empowers users to make financial decisions through a uniquely transparent blend of information, education and sophisticated and automated machine learning. Users can set life goals, and allocate finances such as savings, pensions and investments.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Startup of the Year - Consumer Services Industries
 Nomination Title: Aventur: The hybrid IFA set to disrupt the industry
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2020, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 186 words used.
Aventur is an exciting new high growth FinTech business, bringing an unprecedented approach to personal finance in the UK. We were incorporated in December 2020 and are already trusted to manage over £130 Million of client investments, making us one of the fastest-growing FinTech companies in the UK. We are based in the ‘European hub of FinTech’ and UK capital, London. The city has over 2,100 FinTech companies and one of the world’s highest concentrations of financial and professional services firms (over 90,000) – so we’re in good company. Our founders, Stacey Body and Thomas Young, bring together over 35 years of financial services experience, and are on a mission to introduce innovation to a very traditional industry, which has long resisted change. Stacey and Tom have grown the Aventur team to 13 people, with roles ranging from tech and operations to marketing and financial planning. We have so far self-funded all development work for our technology, including work on our purpose-built back-office system, analytical models, and user interfaces. Our supporting app is also in development and is due to launch later in 2022.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 243 words used.
We have achieved a lot in a short time, and we’re just getting started. Our mission is clear: interrupt the outdated financial services industry by providing a better client experience, increased transparency, and expand our client’s financial knowledge and overall wealth - all while reducing investment risk and most importantly, costs! To achieve this, we have:
- Streamlined the traditional Financial Advice process by building our own unique digital back-office software which optimizes processes and eliminates data entry. By using the latest APIs and data-linking technologies, our system has already proven to significantly improve adviser efficiencies and lower operating costs - meaning we can offer clients lower fees than our competitors.
- Built our bespoke technology, allowing clients to easily see and manage their wealth all in one place, alongside a range of educational tools and AI systems. Our platform uses a goals-based approach to money management, allowing users to plan and achieve their goals, regardless of age, income, or financial education.
- Begun to grow our client roster by acquiring Essex-based IFA firm, JPSL – the first in a planned pipeline of strategic acquisitions.
- Become a B Corp certified [REDACTED FOR PUBLICATION] organization – one of only a few businesses in the financial services industry to do so.
- Self-funded most of our technology build so far, but through fundraising have managed to secure £500k of investment – significantly accelerating the development of our technology.
- Been shortlisted for the UK’s National Start-Up Awards 2022, in the Fintech category.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 250 words used.
We exist because we know two things about the financial advisor market…
- Technology adoption has been slow and the industry still relies on outdated, costly and inefficient practices. These have been further compounded during the pandemic. We know expensive fees, long and inefficient processes, a lack of transparency and limited use of technology are holding the industry back.
- An estimated 15,000 financial advisors are planning to retire in the next 5-10 years, so the UK could face a serious advice gap. Less competition on the market will mean increased fees, leading to a higher number of people unable to obtain financial advice. Undoubtedly, those that need it most will be most affected.
It’s a common belief that what we want to do can’t be done, but we’re already proving doubters wrong through:
- Technology - our back-office system is truly unique, reduces man-hours and improves performance, letting us build better client relationships.
- Transparency - Our game-changing platform provides clients a view of their entire financial situation, alongside the education they need to improve it. This is available to anyone - regardless of age, income, or financial background. Offering this alongside our financial planners' experience, will provide a hybrid-approach to financial advice.
- Sustainability –We are one of very few financial businesses to achieve [REDACTED FOR PUBLICATION] B Corp status. We are committed to limiting our impact on the planet and balancing profit and purpose.
Clients’ demands are changing and we have what it takes to meet them. Our success so far proves that.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 98 words used.
The attached articles provide press coverage and interest in our most recent acquisition of JPSL, an Essex-based IFA firm who has joined Aventur to integrate with us and bring our approach and technology to their clients. Our included homepage describes who we are, our approach and highlights the client-facing portal that we have built so far – but this is just part of what we want to do.
[REDACTED FOR PUBLICATION]
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