Moneyfarm sees AUM leap to £3.5bn, customers hit 125,000
A string of acquisitions in recent years alongside B2B partnerships are helping Moneyfarm grow its assets and revenues despite a choppy investment market.
Digital wealth manager Moneyfarm has seen its assets under management hit £3.5bn.
Moneyfarm saw both its client numbers and assets hit new highs in the first six months of 2023, thanks in part to growing numbers of female investors.
The number of active customers and its AUM jumped 15 per cent in this period compared to H1 2022.
Its acquisition of Profile Pensions added a further £870m in AUM and new 24,000 clients in recent months, bringing AUM to £3.5bn and the number of active customers to 125,000.
Moneyfarm’s female clients have increased by 8 per cent in 2023 to 32 per cent today.
“A lot of our competitors use the term digital wealth manager, but in reality, I don’t believe that anyone is as advanced as we are in delivering on the breadth and depth of product offering coupled with the strong relationships we have with our clients.,” Moneyfarm CEO Giovanni Dapra said.
This year Moneyfarm has also expanded its reach away from its direct-to-consumer business through B2B partnerships with M&G and eToro.
“We are transforming the Moneyfarm business focusing on our D2C offer, B2B solutions and strategic acquisitions,” Dapra added.