Former Canaccord Genuity Wealth Management CEO Neil Darke has launched a fintech start-up called The Lifehouse.Co in UK.
The start-up, which is currently in beta phase, will mainly focus on meeting the financial needs of millennials in the region.
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The Lifehouse.Co will be donating a percentage of any profits to charities that promote financial education or help alleviate financial distress.
The company’s initial products and services will be offered free of charge to customers.
Additionally, the start-up is currently seeking for UK beta-testers, aged 25-30 with an IOS smartphone, who can pre-register at www.thelifehouse.co to take part.
"The financial advice/wealth management industry does not cater for young people – they’re ‘uneconomic’," Darke said.
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By GlobalData"A point clearly illustrated on the industry trade body’s website where the three featured case studies tell the stories of people aged 48, 57 and 76. Where’s the case study for the 25- or 35-year-old?," he added.
"The development of robo-advisors is a great start but we also have to help young people take control over their finances before they can become investors.
"We will require further funding to fulfill the development of our planned products and services but, for now, we just want to get our customers on the right path," he added.
