Firenze has formed a new partnership with Söderberg & Partners Wealth Management, the UK arm of the Swedish wealth manager.
By bringing Lombard lending to wealth managers, Firenze aims to open up the benefits of private banking to mass affluent investors and those who choose not to work with private banks; enabling them to borrow against the value of their investment portfolios without selling assets, disrupting investment plans and triggering capital gains.
Firenze’s platform offers loans from £65,000, secured against clients’ investment portfolios, increasing liquidity for other investments.
David Newman (pictured), CEO of Firenze, said: “Soderberg & Partners are one of the most exciting players in the UK wealth management market today and it is a real pleasure to partner with Nick and his team.
“They have a really innovative platform, have acquired some incredible firms and it’s great for their advisors & clients to now be able to benefit from Lombard lending.”
Nick Raine, CEO of Söderberg and Partners Wealth Management, said: “We’re delighted to partner with Firenze.
“Being able to offer Lombard lending provides our advisers with another tool in their arsenal and a distinct advantage, strengthening their broader proposition, offering forward-thinking, new ways to invest and engage clients, as well as growing AUM and competing with the private banks.”
Dave Ferguson, CEO of Seccl, whose technology powers the Söderberg platform, added: “It’s great to have a ringside seat on the innovations at play within the wealthtech sector. Propositions like Firenze’s are helping to meaningfully improve the proposition that advice firms and platforms alike are able to provide, not to mention the experience that end investors receive.”
