Homepeer to peer lendingMoney & Co considering move to managed accounts only

Money & Co considering move to managed accounts only

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Money & Co is mulling a move to managed accounts only, in order to ensure that investor portfolios are fully invested at all times.

The peer-to-peer lender offers a managed portfolio service, which is available only to clients who can prove that they have £50,000 or more to invest. This service is managed by Money & Co’s sister company Bramdean Asset Management. It targets returns of seven per cent and all investments can be held within an Innovative Finance ISA (IFISA) wrapper.

The platform also allows investors to choose their own investments via self-select accounts, which have a minimum buy-in of £1,000.

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However, Nicola Horlick (pictured), chief executive of Money & Co, told Peer2Peer Finance News that many clients leave their money uninvested, and are therefore losing out on the interest that they could be earning.

“We are increasingly encouraging our clients to use our managed portfolio service, which means that a professional will be selecting loans for the portfolio rather than the individual,” said Horlick.

“This ensures that the portfolio is fully invested at all times and earning a return for the investor.

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“It is notable that many clients leave money on our platform earning nothing at all and ignore our emails and calls encouraging them to actually buy loans. People lead busy lives and often financial matters are left at the bottom of the pile.

“We are considering moving entirely to managed accounts and having no self-select accounts for this reason.”

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