Saxo, which is also the custodian bank for Moneyfarm and responsible for over GBP 69 billion in client assets on behalf of over 876,000 clients worldwide, sees the new offering for Moneyfarm as a significant development for the wealth manager and the differentiated types of portfolios it can offer. Moneyfarm now provides access to actively managed funds from investment managers including Federated Hermes, First Sentier, iShares, M&G, Manulife, Pictet, PIMCO, Robeco and Wellington, investing in equities, bonds, and alternatives.
Moneyfarm’s B2B2C proposition recently supported M&G Wealth with the launch of the &me app which launched earlier in January 2023. Moneyfarm developed the bespoke investment app, created the new &me branding and proposition, from concept, design to completion. It is also providing the marketing coordination services to support the &me proposition, as well as operating the Moneyfarm core platform and providing dedicated customer relationship management, portfolio management and investment advisory services to customers.
M&G Wealth offers advice to Moneyfarm on the composition and rebalancing of the risk weighted portfolios. Investors have access to a range of classic or targeted portfolios which invest in a blend of active and passive funds.
Saxo, which focusses on the UK, provides the technological infrastructure that allows customers to gain access to global capital markets through technology and connectivity with 100+ global liquidity providers. The new mutual fund portfolio offering will allow Saxo to be more present for the wealth management industry in the UK.
In February 2023, digital wealth manager Moneyfarm launched a platform as a service solution in the UK for M&G and powered by M&G Wealth. The company’s &me offering was developed in the form of a customised investment experience packaged into a web application and an app for both Android and iOS-based devices. The product is aimed at a new generation of savers, and it can help them when it comes to making investment decisions.
Moneyfarm’s solution for M&G incorporates the main features of a digital-first investing solution but the company also wanted its users to be able to interact with actual people whenever they needed help, which is why they provided access to dedicated consultants.
In November 2022 they partnered with HSBC to incorporate eGIRO and the FAST Direct Debit Solution. The new application programming interface (API) solution created covers the end-to-end process – from authorisation set-up, real-time verification to initiation of direct debit –from within Saxo’s platforms, translating into a coherent customer experience. The fully automated process eliminates the manual paperwork involved and further improves operational efficiency in cash flow management.
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