A comprehensive overview of working with WealthKernel platform. Available as a web page and PDF.Download Guide
Thanks for downloading this guide. Whether you’ve already chosen to work with WealthKernel, or are evaluating working together, this guide is for you.
This guide covers the basics of working with WealthKernel, what you should expect after choosing to work with us, and how we help our tenants go live.
Our Tenants typically fall under the categories of Startups, Established Businesses and Wealth Managers. These pages will give you an overview of the permissions you’ll need and how we can help to get your business up and running.
At WealthKernel, the path to go live is a three-part simultaneous process that helps us work and build together to get your business live. You can see the image below for a summary of the process.
Before you launch your new proposition and sign with us, you should assess your regulatory permissions and check if you need additional permissions to continue your business.
If you’ve got your regulatory permissions sorted, your next step should be to check our API documentation to see if we can help you with your build scope. You can evaluate what your proposition would look like in production by trying out our Sandbox.
While you’re evaluating our system and assessing your scope, our team will be in touch with you to help with queries and move things forward.
The steps to working with us are simple - after you’ve confirmed that our API can support your proposition, we’ve agreed the commercials, and answered all of your questions; we will then sign our legal agreement and make it official!
After signing with us, we move you to our Tenant Management team for onboarding.
After you agree to work with us, we will grant you access to the API so that you can begin your integration with us. You will get access to our Sandbox to test our endpoints (if you haven’t accessed it already). You will also be able to access our Dashboard and Production environment when needed.
This technical onboarding runs parallel to your onboarding process at WealthKernel and aims to give you a ‘feel’ of the environment and access to the tools you’ll need from us to get your business live and running.
To offer an investment proposition to your customers, you will need the relevant regulatory permissions that match your business model. You should seek qualified, independent advice on the regulatory permissions you may require for your specific offering.
At WealthKernel, you can only go into production (have live money) when you have the correct permissions, but you can start integrating with our sandbox at any point before.
If you are regulated already, you may have all the permissions you need from your current business activities (for instance, you may already be a Wealth Manager or an Established Business with an existing investment proposition).
If you are regulated but do not have the permissions needed to offer an investment proposition, you will need to apply for a Variation of Permission. This can take up to 12 months.
If you are unregulated, you have two options:
Applying to the FCA to become Directly Authorised
Becoming an Appointed Representative of a Regulatory Principal
When evaluating each option, you must consider the time it takes to get the permissions, the fees you will incur, and the compliance and administrative costs to ensure you meet your regulatory obligations.
For you to go live on our platform, we follow some steps to ensure that we understand your proposition fully, are suitable for each other, and can support you from go-live to your future plans.
During the Discovery and Pre-onboarding phases, you will have a dedicated salesperson as your point of contact for all technical, operational and commercial issues. We take a consultative approach, answering all questions to ensure you are comfortable with building against our API to power your proposition.
Our commercial and legal agreements are designed to be turnkey, so you can move to Onboarding in parallel with any regulatory actions you need to undertake.
From the Onboarding phase onwards, you will have an assigned Tenant Manager who will be your primary point of contact for go-live and beyond. After receiving a welcome email, we will set up three communication channels for you:
Regular meetings - for checking in
Slack - for updates, reminders and quick questions
Jira Service Desk - for raising, monitoring and answering technical queries
Your Tenant Manager and communication channels will be key to your build, answering questions as you progress towards production, and supporting you once you are live.
WealthKernel’s API is designed to power your business behind the scenes. We provide all the endpoints to support an investing proposition - you just need to choose the ones that are required for your use case.
As an API-first business, we encourage you to test our infrastructure and check if it’s compatible with your roadmap. Our publicly available API documentation is a good place to start. Everything in the docs is complete and live, including APIs listed ‘private beta’. We update them frequently as we make improvements to our services and deliver on our roadmap.
Our API guides are very user-friendly and your technical team should be able to understand WealthKernel’s API infrastructure without much difficulty.
Before signing our legal agreements and onboarding, we encourage you to build against our sandbox environment. We have made this as close to production as possible for you to evaluate how we would power your investing proposition.
Once you’re onboarding, you’ll get access to the sandbox if you haven’t already used it. Here, you will build against our API, integrating it into your front end. You will be able to raise technical queries through our Jira instance, shared Slack channel and in your regular meeting with your Tenant Manager.
When you are ready and have the required permissions, you will be given the keys to production, enabling you to start onboarding your customers and get your first live money on our platform.
WealthKernel maintains proactive communication with its Tenants before and after they sign with us. Our Tenant Management Team will regularly communicate with you to follow up on your journey and help you with any questions or concerns.
We also have a monthly newsletter for ongoing updates, enhancements to our platform and the latest insights on the financial industry that our Tenants find useful.
WealthKernel is constantly growing and expanding its product and reach. We love to collaborate and explore growth opportunities. We also offer a place to Tenants looking to enhance their proposition and strengthen their product to discuss new additions in line with our roadmap.
You’ve reached the end of this guide. If you’d like to speak to a member of our team about anything that we have covered, please feel free to fill out an enquiry form.