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Wealth app Chip welcomes former Interactive Investor CEO as chair
Adam Seale is joining as non-executive chair of Chip, one of the fastest growing wealth management businesses in the UK.
He brings considerable experience to Chip at a time of significant growth, with the business growing assets under management by ten times in the last year, increasing from just under £300 million at the start of 2023, to over £3 billion today. Chip’s revenue also increased 922% over the course of last year, and had its first profitable quarter in Q3 2023.
Adam is leaving financial adviser firm Schroders Personal Wealth, where he was an independent non-executive director since its founding in 2019, to take up the chair role at Chip.
Previously, Adam was CEO of Interactive Investor for five years when it grew from £1 billion to £19 billion client assets under administration, including through the acquisition of TD Direct Investing.
Simon Rabin, founder and CEO of Chip, said: “Adam brings serious experience to Chip of running mature financial services companies with billions of pounds on their books. I am delighted to see him take an active role at Chip at an exciting time in our journey, and help us take the business to the next level.
Adam Seale, chairman at Chip, said: “I have been very impressed with Chip’s growth, its customer-friendly technology, and its potential to continue to disrupt the market. I am looking forward to helping Simon and his management team achieve their vision to be the wealth app for a generation, giving one easy place to build savings and investments.”
Adam is also chair of Antler UK the early-stage investor, and chair of Timeline, which provides IFAs with planning technology and the UK’s fastest growing model portfolio service. It recently passed £4 billion assets under management.
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