Moneyfarm partners up with Allianz
Moneyfarm, a of European digital wealth manager, has developed an exclusive partnership with Allianz. This will facilitate its expansion into Germany with a cost-efficient multi-asset investment product.
As part of the launch, Allianz Global Investors’ actively managed funds will be offered through a digital wealth manager for the first time.
The announcement demonstrates the additional value that can be created through strategic partnerships and acquisitions, and follows Moneyfarm’s acquisition of German digital wealth manager, Vaamo, in late 2018.
Moneyfarm has nearly 40,000 customers across the UK, Italy and Germany. Germany is already home to the top savers in the world, with the average household saving 9% of their income and gross savings equating to 28% of GDP.
The new multi-asset product, launching in beta on 13 June, aims to give customers the benefit of active returns at competitive prices.
Customers in Germany can view their portfolio online via the Moneyfarm platform. As with Moneyfarm users across Italy and the UK, they will also have access to investment advisors should they want to discuss their accounts.
“Our expansion in Germany represents a huge landmark for Moneyfarm as we grow our presence outside of Italy and the UK and look to capitalise on the growth of digital wealth management across Europe. This sets us up to continue the strong growth of the past 12 months right into 2020,” says Giovanni Daprà, Co-Founder and CEO of Moneyfarm.
“We still see a lot of potential in this market,” says Jackie Hunt, Member of the Board of Management of Allianz SE. “We are convinced that intelligent, digital wealth management offerings will gain in importance in the medium to long term. By working with start-ups such as Moneyfarm, we can combine agile technologies with our experience for the best benefit of our clients.”
The initial beta test will be offered to existing clients of Vaamo and strategic partner 1822direkt, as well as Allianz Global Investors Germany employees. Following the trial, customers in Germany will be able to invest in the new offering from September.
