In conjunction with Moneyfarm, Saxo Markets will provide access to mutual funds for M&G Wealth &me customers. Saxo is the custodian bank for Moneyfarm and has been working with the online wealth manager for the last eight years.
M&G Wealth &me mutual funds
The new service will offer M&G Wealth &me clients access to some of the world’s most renowned fund managers such as Federated Hermes, First Sentier, iShares, Manulife, Pictet, PIMCO, Robeco and Wellington, across a range of funds that invest in equities, bonds and alternatives.
This is also the latest development in a deeper relationship between Moneyfarm and the M&G Wealth &me division. Moneyfarm has developed a bespoke investment app for M&G and created and developed the branding and proposition for “&me” from scratch.
Whilst M&G advises Moneyfarm on portfolio composition and weightings within its wealth management operations.
The new venture is an example of a B2B2C, or Business-to-Business-to-Consumer operation, which Saxo’s UK Head of Institutional Sales, Christine Kiener described as:
“ an exciting new proposition delivering mutual fund portfolios to M&G Wealth &me customers”
She added that:
“Saxo’s focus on ‘win, win’ outcomes ensures that our interests are aligned with our partners and we are committed to delivering for their most critical projects, as quickly as possible.”
Giovanni Dapra, CEO at Moneyfarm, said:
“Our ongoing and successful partnership with Saxo combines the scale and experience of an established player with the nimble and innovative nature of a digital fintech business.2
“We were excited to once again partner with Saxo on this project to offer mutual fund portfolios and were delighted by the speed and efficiency of delivery.”
The appeal of collaborative investment services
This is the second collaborative project involving Moneyfarm that we have reported on in the last week. Collaboration helps to reduce costs and to speed up the development times and deployment of Fintech projects.
By working together using OpenAPI technology Saxo and Moneyfarm have been able to roll out the new service to M&G far more quickly and efficiently than would have otherwise been possible.
For its part, Saxo said that the new mutual fund portfolio offering will allow it to be even more present for the wealth management industry and that it continues to welcome, and explore partnerships and white labelling opportunities in the UK.