By Oliver Smith on Thursday 25 August 2022
A focus on more socially responsible investing is helping Moneyfarm to shift its investor demographics.
Digital wealth manager Moneyfarm saw the number of women investing on its platform double in the first half of 2022, now accounting for 32 per cent of its active investors.
The sharp rise was also joined by a 53 per cent increase in Millennial investors (28-42 years olds) and came as Moneyfarm increased its focus on more socially responsible investment products, launching a new range in October 2021.
In total Moneyfarm reached £2.3bn in assets under management during the first half of 2022, up 46 per cent year-on-year, and is now nearing £2.5bn.
“We are proud of what we have achieved and our results for the first half of the year, against the current market and political backdrops, are proof that our business model, made up of human expertise with the most advanced digital technology, is appreciated by an ever-increasing number of investors,” said Moneyfarm’s CEO and co-founder Giovanni Daprà.
“This is particularly true when you look at those searching for an innovative and conscious approach to the management of their long-term savings.”
Overall Moneyfarm now has 90,000 active investors on its platform today, a 20,000 increase in the first half of 2022 alone, and a total customer base of over 530,000.
Daprà said the continued growth would lead Moneyfarm to keep hiring in 2022, with its headcount rising from 130 in the first half of 2021 to 195 today, with plans to reach 220 by the end of the year.