The ascendant consumer lending platform RateSetter is continuing its efforts to open up immense pools of untapped capital.
We’ve recently explored a number of attempts by RateSetter to ramp up volume through the platform. Now the prominent consumer-lender is branching out into yet further uncharted territory. RateSetter has today unveiled the first bespoke peer-to-peer portal for IFAs. This tailor-made portal will allow financial advisors to set up, manage and benchmark clients, set fees, and get notified as client funds mature. By arming advisors with the knowledge and risk management tools that the new portal has to offer, RateSetter is hoping to gain access to the vast client base of IFAs.
Rhydian Lewis, Founder and CEO of the platform, commented:
“As P2P becomes more popular with investors, we have seen a real groundswell in interest from IFAs, whose clients are increasingly asking them how P2P should sit within their investment portfolio.”
“Our portal helps to support IFAs on the advice they provide to clients, including our FE Risk Score, statistics on the strength of our Provision Fund and how our interest rates are set. P2P is a way of gaining better returns on savings via a product that is almost as secure as cash accounts.”
“Any adviser that describes themselves as whole-of-market and independent is doing their clients a disservice by not considering P2P as a part of a diversified portfolio.”
AltFi Investor columnist James Levy – Director of Business Development as SICAV-SIF – has long been lobbying for the investment advisory industry to stand up and take notice of the peer-to-peer lending opportunity. Advances such as this IFA-focused portal are bound to accelerate that process.