Why Octopus Money is Building an Electric Train, Not a Faster Horse

Henry Ford famously said, “If I had asked people what they wanted, they would have said ‘a faster horse.’” At Octopus Money, we’re not building a faster horse. We’re building an electric train—one that transforms advice businesses, unlocks profitability, and delivers financial planning at scale.

So why do we need a radical approach?

The financial advice industry is facing an existential challenge. The cost of delivering regulated advice is rising, adviser numbers are finite, and many clients with simpler needs remain underserved. While some firms attempt to solve the issue by leveraging AI to shave minutes off administrative processes, this approach fails to address the fundamental problem: advice remains expensive and resource-intensive. Some advisory firms have been talking about AI as if it’s going to completely transform the industry - but the reality is, the entire system is too expensive and resource-intensive. Speeding up a broken system with AI will not fix the core issue. What’s needed is not just efficiency gains, but a complete rethink of how financial advice is delivered. We don’t need a faster horse; we need an electric train.

At Octopus Money, we’re not just making marginal gains—we’re reengineering financial advice for the mass market. Our model, which combines financial coaches with regulated advice technology, delivers holistic planning at a fraction of the traditional cost. In doing so, we can democratise access to advice and partner to help firms scale sustainably.

Reimagining Advice Delivery

A conventional advice model is costly and time-consuming. Traditional firms rely on a regulated adviser, paraplanner, and administrator to serve clients, resulting in onboarding costs of up to £2,000 and ongoing fees of nearly £900 per year. In contrast, Octopus Money’s methodology reduces costs by 80%, making advice accessible for a broader audience.

Here’s how it works:

1. Financial coaches—unregulated but accredited—engage clients through a series of online meetings, where they understand their aspirations, and build a simple lifetime cashflow model.

2. Technology-powered advice provides regulated recommendations (‘boosts’) that optimise financial futures, while suitability reports are auto-generated.

3. Seamless digital execution ensures that clients can implement advice and invest with minimal friction, alongside ongoing support from their coach.

This approach enables a single coach to serve over 300 clients, significantly reducing the cost to serve while maintaining personalised, high-quality financial planning.

The Electric Train Model

The problem with traditional financial advice isn’t just cost—it’s scalability and consistency. Adviser-led models produce variable outcomes, depend on a shrinking workforce, and struggle to serve lower-asset clients profitably.

By contrast, our methodology is built for repeatability and transparency. Every client receives the same robust process, ensuring quality outcomes while reducing compliance risk. Moreover, our approach nurtures the next generation of advisers, allowing firms to incubate future talent while efficiently serving today’s clients.

A national advice firm partnered with Octopus Money for a three-month pilot to grow without adviser constraints, offer financial plans to all clients, and never turn anyone away. The revamped process slashed costs, with clients rating the new service over 9/10. Financial coaches are happier, freed from admin by tech, and advisers now focus on complex, high-asset clients—avoiding disengagement.

Are you ready to step aboard?