LV= steps into robo-advice with Wealth Wizards stake

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Provider LV= has bought a majority stake in robo-advice operation Wealth Wizards.

LV= said it would inject capital into the robo-advice business to assist with its plans to develop a widely available ‘white-label' automated advice platform. Wealth Wizards will also power LV='s retirement advice service CORA (clear online retirement advice). The service, which is supported by LV='s in-house regulated telephone advice service, uses Wealth Wizards' algorithm-based advice platform to generate personal advice for retirees. Robo-advice can't be avoided but it can be assimilated LV= managing director for life and pensions Richard Rowney said: "The way people ...

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