European digital wealth manager Moneyfarm has launched a new digital service to help advisers cater to the needs of smaller clients.
Supported by Moneyfarm’s investment team, the new offering is designed to provide low-cost advice and portfolio management to less affluent customers of banks, independent financial advisors and building societies.
Go deeper with GlobalData
It is said to comprise end-to-end service including onboarding, investor profiling as well as mapping to suitable portfolios. It includes access to Moneyfarm’s multi-asset portfolios as well as third-party portfolios as preferred by the clients.
The solution is expected to help advisers serve clients with smaller pots while maintaining their focus on large clients with complex needs.
Under the new service, Moneyfarm will take over the clients referred by advisers until they wish to re-engage with them.
Advisors will have access to dashboard featuring the client details and can decide when to re-engage with the client. Additionally, they will receive an alert via e-mail once the client assets reach a specific threshold.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMoneyfarm UK head of business development Daniel Giddings said: “The UK is facing an advice crisis and long-term detriment to those with smaller investable assets, more often than not the next generation of clients for an adviser.
“By enhancing their proposition, with the use of our digital solution, advisers, banks and building societies can still participate in the commercials and continue to serve those with smaller pots, but without losing control.”
“At any point the adviser can switch the client back into their full advice service and have all the CRM information at their fingertips,” Giddings added.
In September this year, Moneyfarm raised £36m in Series C funding from Allianz Asset Management and Italian postal service, Poste Italiane.
The firm first partnered with Allianz in 2016, when the insurer made a $7m investment in the firm, backing its entry into the German market.
