Multiply AI Ltd launched in 2016 with a mission to make good financial advice accessible to everyone using an AI holistic advice engine. It became the first business of its kind to be FCA-authorised in 2019, and since then has made over 250,000 recommendations and advised on over £3bn worth of assets.
Multiply’s technology generates personalised financial advice at scale to help people reach their goals and improve their wellbeing. The advice engine is configurable to be fully-automated or hybrid, and to give full-fat advice or guidance only. Multiply is partnering with market-leading financial institutions to bring advice to their customers and the world.
Tim Elder is Chief Product Officer at Multiply, responsible for the company’s product development and strategy. He joined the Shott Scale up Accelerator in 2023 and says “Having been part of the team that took Multiply from zero to one, we’re now scaling and I’m in a leadership role. I hope the programme will help me fulfil my role and ultimately realise Multiply’s vision.”
Tim recognises the need to develop people and culture skills to builds the product function and help with organisational design as they work with more business-to-business corporate clients and as the product suite matures. He values using mentorship from people that have “done it before”, such as those who have worked with large enterprise customers, scaled a fintech business, or built a product team.
The Shott Scale up Accelerator networking opportunities with others going through similar journeys will help him see how others think about challenges, opportunities, and changes in the environment. Multiply are developing and scaling their product with their first corporate client and expect more customers in the near future. Over the next 12 to 18 months, they will continue to develop their advice technology to serve more use cases and increased case complexity. As they build the volume of data they have they will also start leveraging predictive analytics to support the system.
