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Moneyfarm rolls out active management at ‘institutional cost’ to Allianz UK staff

Moneyfarm rolls out active management at ‘institutional cost’ to Allianz UK staff

Hot on the heels of its deal to provide savings and investment services to Uber (Moneyfarm to reach 40,000 Uber drivers in landmark deal) Moneyfarm has launched a new service for UK employees of a major stakeholder in its business, Allianz Global Investors.

The solution, to be known as ‘Moneyfarm powered by Allianz Global Investors’, will provide low cost active wealth management through the use of institutional share classes of Allianz and Pimco funds.

Moneyfarm will manage all operations, using its investor profiling tool and digital customer experience to assign customers to one of six profiles, after which they will have access to advice.

a natural extension of our existing product and demonstrates its flexibility

The services will be offered at ‘institutional cost’; investment management is outsourced to Allianz who will determine the strategic asset allocation, to be approved by the Moneyfarm investment committee.

In announcing the service, Paolo Galvani, co-founder of Moneyfarm said: ‘this partnership is a natural extension of our existing product and demonstrates its flexibility.’

‘Enabling Allianz employees in the UK to invest with active funds through a digital interface is the next step for Moneyfarm in terms of delivering our model and solution across the full investment lifecycle.’

Tobias Pross, head of Europe, Middle East and Africa (EMEA) at Allianz, said: ‘The launch of this programme in the UK is an exciting first step in our partnership with Moneyfarm, giving our UK-based colleagues access to professional investment management via a fully digital platform using actively managed Allianz Global Investors funds.

‘Moneyfarm has been an excellent partner in building an employee offering for us, their timely delivery has enabled us to launch this to our employees during ISA season.

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‘This gives a strong impression in terms of reconciling automated advice and active management. For us, this serves as a pilot to dive deeper into our hybrid model of advisory.’

There are currently no plans to roll it out to the wider market, although a company spokesman did not rule it out in the future. Citing its deal with Uber, Mr Galvani said: ‘It is a proof of concept. Once we have the model in place ideally we will stay in the area of subsets of potential clients where we can offer the same concept to a limited amount of people, such as employees or a community.’

Moneyfarm is also working on a pension product which Mr Galvani hoped would be ready by the end of the year.

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