Workplace savings platform Smarterly, which recently bought the Salvus Master Trust, is changing its name to Cushon.
Smarterly says the rebrand aims to reflect the core values of the provider, which is soon to launch a new pension product, takes effect from 7th July.
Smarterly was launched in 2017. The provider’s suite of workplace savings products include ready-made portfolios that offer daily monitoring of investment risk.
In recent months it has made a string of senior appointments, including former Now: Pensions CEO Troy Clutterbuck, and former Aon commercial director Steve Watson.
These hires followed the appointments of Duncan Howorth as non-executive director, formerly CEO of JLT Employee Benefits, and Michael Johnson as advisor on corporate affairs and policy, formerly adviser to David Cameron’s Economic Competitive Policy Group.
Smarterly co-founder Phil Hollingdale (pictured, R, with co-founder Ben Pollard) says: “You’ve probably never given it a moment’s thought, but our wavy logo has a deeper meaning. Its curves are based on the patterns our algorithm creates when it builds optimised portfolios designed to maximise likely returns. It’s unique and that’s why, although we are changing our name, we’re keeping our icon the same.
“When we decided to change the name we wanted it to sit well on a list with companies we admire and who we aspire to be as successful as. These include Monzo, Slack, Stripe, Plaid, Spotify, Tesla, Zoom. In the UK workplace savings market, worth £90bn a year, we want to stand out, not to be confused with anyone else, to be seen to be different, modern, friendly, disruptive, confident, memorable, unique and a future Unicorn.”
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