WEALTH at work

WEALTH at work is a financial education and discretionary wealth management services provider.

In September 2021, Equistone exited its Fund V investment in WEALTH at work by way of a management buyout. As part of the transaction, Equistone reinvested in a minority stake through its Fund VI, alongside the management team and majority investors, Aquiline Capital Partners, and remains involved in the business through board representation. The Advisory Committees of each of Fund VI and Fund V approved Equistone’s management of the associated conflict of interest before the transaction was agreed.

Founded in Liverpool in 2004, WEALTH at work provides financial education seminars to employees of corporate and public sector institutions on topics such as pension planning and share schemes. Subsequently, employees can request personal financial advice from WEALTH at work’s team of regulated financial advisers, with a proportion then going on to invest into its discretionary managed funds service.

WEALTH at work’s revenue is largely generated through annual management fees from assets under management (AUM). Due to the success of its unique business model, AUM have more than quadrupled over the past five years to £2bn in 2021, with close to £400m of new AUM generated per annum.

VALUE CREATION

Equistone originally acquired a majority stake in WEALTH at work in August 2015, through its Fund V. During Fund V’s hold period, WEALTH at work completed two build-up acquisitions: Life Academy in September 2015 and Affinity, a nationwide provider of financial education and advice services, which was supported by Equistone and facilitated WEALTH at work’s entry into the public sector in May 2016.

Additionally, the business launched its MyWealth service, which is a hybrid online automated/one-to-one guidance service aimed at employees with smaller investment requirements.