Your Industry 

Guide to making Project Innovate work for you

  • To understand what Project Innovate has achieved.
  • To learn how it can help your firm.
  • To gain understanding on ways to approach technology and social media.
Guide to making Project Innovate work for you


Robo-advice, transactional developments and a new generation of advice-seekers growing up with technology have been shaping how the financial services industry deals with clients. 

In October 2014, the FCA set up Project Innovate - a means by which the City regulator hoped to encourage technological innovation among advisers and providers.

The aim was to challenge existing, traditional business models and develop cutting-edge, lower-cost, robust services delivered online rather than just face to face.

Just over two years on, how has the financial services industry - in particular advisory firms and networks - risen to the challenges of Project Innovate and adapted to meet the demands of future generations of clients?

Contributors to this guide: Gillian Roche-Saunders, head of venture finance at Bovill; EY; Chris Hannant, director general of the Association of Professional Financial Advisers; Charles Owen, founder and director of Co-Investor; David Geale, director of policy at the FCA; Martin Bamford, chartered financial planner for Surrey-based Informed Choice; John Cowan, executive chairman of Sesame Bankhall Group; Abbie Knight, founder of A Business Innovation; Greenwich Associates; Deloitte Consulting; and Michelle Pearce, co-founder and chief executive of Wealthify.

In this guide

  1. How does Ms Roche-Saunders describe the first wave of Project Innovate applicants?

  2. Why did Mr Woolard say the FCA and PRA had been changing their approach to fintech?

  3. What two areas would Mr Bamford like to see developments in?

  4. What has the FCA needed to become to help innovators, according to Mr Geale?

  5. What is Mr Cowan urging firms to do?

  6. What is one of the biggest challenges, according to Mr Hannant?

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