Investors can now transfer money in to their investment accounts via a mobile phone, after UK investment provider, Parmenion, said it is the first in the industry to offer such an option.

Investors and advisors can now transfer money in to their investment accounts via a mobile phone, after UK investment provider, Parmenion, said it is the first in the industry to offer such an option.

With this move, Parmenion joins the most recent trend in the wealth management and investment industry, as more firms and private banks are looking to offer their services via mobile technology.

Through the Barclays Pingit app Parmenion's clients can make investment account deposits, whenever and wherever they are by using a smartphone or tablet. The app is free to download and can be used by anyone with a UK mobile number and bank account. Furthermore, clients do not need to bank with Barclays in order to use the service.

Parmenion said in a statement that this would be the first of several ways in which the firm will aim to offer its clients innovative mobile payment solutions.

“As the end of the financial year approaches, many investors look to make further deposits into their ISA accounts. Advisors working with us, will be able to offer their clients an innovative payment option that is not only quick and easy but also convenient to use,” said Patrick Ingram, head of corporate relationships at Parmenion.

Parmenion works with over 2,100 financial advisors and has over £925 million ($1.544 billion) in assets under management.