New Products

What's New In Investments, Funds? – P1 Investment Services, Firenze

Editorial Staff 10 June 2024

What's New In Investments, Funds? – P1 Investment Services, Firenze

The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

UK-based discretionary investments firm, P1 Investment Services, operator of the P1 Platform, has partnered with another UK firm, Firenze, to offer digital Lombard loans via the P1 Platform.

The pact allows clients to apply for loans backed by their general investment account, ISA account, and some third-party product accounts on the P1 Platform, streamlining access to liquidity without having to sell investments. (Lombard loans, aka margin loans or portfolio loans, are personal loans that allows a person to borrow against assets such as equities.)

Accessible from within the P1 App, clients will be able to apply for a loan digitally, securing loans against one of their investment accounts. The loan will then show against the account they have borrowed from within the app. If a client has a loan in place, they must request withdrawals from Firenze to ensure that they do not breach the loan-to-value (LTV) limits.

Loans will be available from £25,000 ($31,775) to £5 million and above, with a maximum starting LTV of 50 per cent.

P1 said Lombard loans are a product traditionally reserved for private banking customers. 

“This integration is a significant step in making the P1 Platform the hub for accessing integrated financial and investment services for advisors and their clients. Over the next year, we’ll be revolutionising what people believe an investment platform is, skipping forward to platform 4.0, 5.0 and beyond,” James Priday, CEO of P1 Investment Services, said.

David Newman, CEO of Firenze, added: “Lombard lending is the last of the private banking services that can be opened up to advisors and their clients, and I am proud that Firenze is at the forefront of that democratisation.”

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes