Digital wealth manager Moneyfarm just launched a partnership with Allianz Global Investors which will provide access to an active wealth management solution at institutional cost to UK employees of Allianz companies. This follows Allianz’s strategic investment in Moneyfarm, which was announced in September 2016.
In an industry and European first, the two organisations have developed a new active wealth management solution called Moneyfarm powered by Allianz Global Investors. The product, which was built in just three months, will combine Moneyfarm’s digital customer experience and investor profiling with Allianz Global Investors’ unparalleled expertise in active investment management. Moneyfarm will also manage all operations, and the partnership acts a proof point of the flexibility of the Moneyfarm platform.
Portfolios will be made up of Allianz Global Investors and PIMCO funds, and will be accessible to UK Allianz employees at a price usually only available to large institutional investors.
The on-boarding process utilises Moneyfarm’s existing consumer service; on sign-up customers are asked a series of questions and aligned to one of six investor profiles. Allianz employees will then be offered affordable, and appropriate advice, combined with strong risk management tailored to an investor profile.
The investment management process is outsourced to Allianz Global Investors who define a strategic asset allocation based on risk levels that Moneyfarm creates; all investment management decisions are approved by the Moneyfarm Investment Committee.
Moneyfarm powered by Allianz Global Investors launched internally earlier this month. Whilst it is still early days, the response from Allianz employees in the UK has been positive. This is the first time UK employees from across the Allianz family have had access to a wealth management solution in this way.
Moneyfarm’s main website will continue to offer portfolios to the public built of exchange traded funds, whilst this new product will only be available to Allianz employees.
Paolo Galvani, Chairman and co-founder of Moneyfarm, commented:
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.