Fintech raises $15m for AI tools it says will slash cost of financial advice

A London-based fintech firm has raised $15million (£11.2million) from investors to fund artificial intelligence-powered tools it claims can dramatically cut the cost of financial advice.

Just 9 per cent of UK adults paid for financial advice in 2025, down from 11 per cent the prior year, according to a Lang Cat survey, with many citing potential costs as a barrier.

The Financial Conduct Authority says this ‘advice gap’ leaves consumers ‘unsupported when making important decisions about pensions and investments’.

The watchdog launched a ‘once-in-a-generation’ review last year to help bridge the gap by providing more support options between generic guidance and full-scale, bespoke financial advice.

In the meantime, AI tech firm Saturn has secured a successful funding round for its own solution.

Founded in 2023, Saturn says its tools can slash the cost of financial advice from an average of £2,000 per year per client to just £200.

Saturn provides financial advisers, paraplanners and administrators with AI tools to take on time-sapping administrative and compliance tasks.

This, according to Saturn, ensures advisers’ time is ‘freed up to serve more clients at a lower price point’.

The group on Wednesday revealed a £15million funding round led by Paris-based, early-stage venture capital firm Singular, with participation from fintech investment firm Shapers, US-based VC fund Y Combinator and San Francisco’s Zeno Ventures.

Saturn said the new funding will ‘accelerate the development of next-generation AI tools and technology that enable financial advisers to deliver faster, more scalable and more compliant advice’.

The group also plans to expand its engineering, product and partnerships teams to ‘strengthen industry collaboration’.

Saturn chief executive Amal Jolly said: ‘Advisers and their teams quietly change lives, giving families confidence and peace of mind. Our job is to empower the humans in the financial advice process.

‘By doing the heavy-admin-lifting and making compliance much more reliable and less painful, we can help financial advice professionals offer their life-changing services to more people at a significantly lower cost.’