WealthKernel partnered with Topia to enhance personal finance offerings

By Joy Dumasia

WealthKernel, the wealthtech provider of digital investment services, announces its partnership with Topia, a UK-based app empowering millennials to reach financial independence and retire early. Topia will use WealthKernel’s investing API and regulatory umbrella to bring flexible SIPP and ISA investing accounts to market to boost its finance offering as part of the partnership.

Topia, one of the UK’s most innovative new personal finance apps based on the FIRE movement (Financial Independence Retire Early), and aims to revolutionise how millennials view the timeline of their lives by helping them achieve financial freedom early on in their lives to retire sooner than those following a more traditional model.

Topia will utilise WealthKernel’s flexible ISA and SIPP tax wrapper APIs, as well as its portfolio management and trading functionalities to power the app. As an appointed representative of WealthKernel, Topia will also utilise its regulatory umbrella to bring its new services to market at speed, avoiding in-house completion of the lengthy FCA accreditation process.

The FIRE movement is a growing trend in the UK, which directly questions why we should retire at the conventional retirement age of 65. Topia’s announcement follows recent confirmation that the pension triple lock will be suspended from next year, making the prospect of relying on a state pension increasingly unattractive.

Karan Shanmugarajah, CEO of WealthKernel, said: “It’s incredibly important to open people’s eyes to the savings vehicles that are available to them beyond traditional pensions – whether that’s SIPPs, ISAs or other investment products. Using our simple, flexible, scalable technology and regulatory integrations, WealthKernel is able to help forward-thinking companies like Topia make financial security accessible every day. We’re excited to be supporting them in empowering more consumers to reach financial security in their own time and on their own terms.”

Recently, IBS Intelligence reported that WealthKernel, a wealthtech provider for digital investment services, announced its new digital SIPP (self-invested pension plan) offering. The new functionality will enable WealthKernel’s clients to offer digital SIPPs to their customers, using WealthKernel’s new API product wrapper.