Tom Ellis: Commission-based advice is back? How words can confuse

Advice or guidance?

Tom Ellis
clock • 10 min read

Financial planning app Multiply may have you thinking 'free', commission-based advice is making a comeback this summer. But, writes Tom Ellis, this story of a confusing three days paints a rather different picture

When I received a press release on Monday saying financial planning app Multiply had been approved by the FCA and was going to put "a full personal financial adviser in everyone's pocket", you can imagine I was more than intrigued. In fact, the firm says its robo-adviser would be the only app to explore "your whole financial life across a wide range of products - from pensions and investments to savings and insurance". So confident of its disruptive potential, it even offers a dig to human financial advisers, saying it would review your financial situation every time your life changes...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

Why advice firms risk mistaking progress for resilience

Why advice firms risk mistaking progress for resilience

Do not let caution cause inertia

Macarena Rodriguez
clock 25 August 2026 • 5 min read
ChatGPT does not know your client – make sure it never does

ChatGPT does not know your client – make sure it never does

'The problem is not that staff are trying to break the rules'

Gareth Fatchett
clock 25 August 2026 • 6 min read
Adventures in AI: Words of wisdom on chatbots

Adventures in AI: Words of wisdom on chatbots

Part four in the series...

Mike Morrow
clock 19 August 2026 • 3 min read