The UK is undergoing a “personal finance revolution” in the “most profound transformation in history” according to deVere Group founder Nigel Green.

A 61% growth in the use of fintech apps shows that the way consumers manage their finances has shifted following the Coronavirus pandemic, and it is unlikely that these new fintech users will go back to traditional methods of accessing, using and managing their money, according to the international wealth management firm.

deVere has been a long-term advocate of fintech and has launched a series of apps including investment app deVere Core in 2018.

Mr Green said he believes the trend towards the use of fintech will only increase.

He said: “The financial services sector is currently undergoing, I believe, possibly the most profound transformation in history.

“We’re seeing seismic and far-reaching shifts in client expectations. As the world moves towards an ever-more digitalised and globalised future – which is increasingly influenced by those who’ve grown-up with 'on-the go' tech - this phenomenon can only be expected to gain momentum.

“The way we save, invest, use and manage our money has changed forever. We are witnessing a personal finance revolution.”

Earlier this month, deVere set up a “strategic partnership” with UK Financial Planner Fidelius Group to serve expats returning to the UK.

A new brand called Fidelius deVere will be launched to provide bespoke Financial Planning to returning expat clients. 

As well as the strategic partnership with Fidelius, deVere has plans to boost its presence in the UK through wholly-owned subsidiary, WPS Advisory Limited which provides retirement planning advice via the workplace.