London, England, 07:00, 15 November 2023: Industrial Thought Ltd. – a group of companies focused on accelerating the future of wealth management – has announced a £250K investment in Ammonite, developers of hybrid financial advice technology. This raise comes during a period of significant economic pressures but also a period of rapid transformation for the industry, with financial advisors forced to meet a new wave of digital demands. As a result of the investment, Ammonite can speed up the pace of its development and enable more advisory firms to grow their customer base.
Ammonite builds financial adviser software for pure online engagement, resulting in a broader customer reach, enhanced conversion, and greater operational efficiency. It is evolving the financial planning experience using AI and ML, empowering financial advisers with the tools to engage and economically service a wider market of next-generation investors. Clients can benefit from ready-made solutions or customise their own remote customer and adviser journeys.
Deloitte’s recent Wealth and Asset Management 4.0 report revealed that 40% of clients now say digital access has greater importance in decision-making. And three-quarters of wealth firms believe that investors’ primary engagement channel will be digital within two years.
Rob Harradine, Co-founder of Ammonite, said: “Today’s investors expect fully remote or hybrid interaction. Having worked as financial advisors, we understand industry and investor frustrations. Leveraging the power of technology, we make it easier for advisors to deliver an efficient service and a superior client experience at scale. Industrial Thought’s strategic investment is an exciting step, given our shared vision to drive digital transformation across the financial services industry.”
Nuno Godinho, Group CEO of Industrial Thought Ltd., added: “We are committed to advancing wealth and asset management, not only by building new products, but also by partnering and investing in innovative companies and entrepreneurs who align with our mission to facilitate a socially responsible, sustainable circular economy. Our industry must put clients/investors first by providing a fully personalised customer experience throughout their journey. This needs to be digital-led, which is why the time is right for us to invest in start-ups spearheading this change like Ammonite. Ammonite brings a unique proposition allowing the industry to create connected wealth journeys for any of the wealth pathways chosen.”
Industrial Thought is taking a holistic approach, paving the way for an ecosystem that serves both investors and wealth and asset management professionals. In this environment, stakeholders can see tailored information, compare options, and select best-in-class products, such as Ammonite’s software, at every stage of the investment journey. Data security and transparency is another crucial component of the ecosystem, and Industrial Thought recently announced its investment in the pioneering platform TURN (TISA Universal Reporting Network), an industry blockchain solution for collecting and disseminating fund-related data.
About Industrial Thought Ltd.
Founded in 2013, Industrial Thought Ltd. is the parent company for a group of companies shaping the future of financial technology and data products. Backed by collective expertise, it is powering the transition to wealth management 4.0 and facilitating a socially responsible, sustainable economy.
As the wealth management industry enters a new era, Industrial Thought will drive transformation by creating a complete suite of data, platform, and marketplace services to support the delivery of higher standards and speed up innovation.
Companies within Industrial Thought include:
- FSL (Financial Software Ltd.): Simplifying the Complexity of Managing Investment Taxes. A provider of specialist investment tax solutions and the creator of CGiX, the market-leading capital gains calculator.
- Raw Knowledge: Reshaping Wealth by Demystifying Data. A specialist data provider for the wealth management industry.
- Thought Train: Fast-tracking the Digital Leap in Wealth Management. A rapid proof of concept company focused on financial software development.
- Thought Ventures: Investing in Trailblazers to Build a Sustainable Circular Economy. A venture builder and incubator aimed at investing in innovative early-stage to Series A start-ups working towards a more circular economy.
Contact us to learn more about innovative solutions for connected wealth journeys and discover how we’re shaping the future of wealth management.