Asset Management
Lombard Lending Disruptor Secures Another UK Partner
Otherwise known as Lombard lending, the business says it is disrupting the way that asset-backed lending, in which equities are used, is provided.
Firenze, a Lombard
lending provider, has partnered with AJ Bell Investcentre to give
advisors on the platform access to Lombard lending for eligible
clients.
The facility allows borrowing against the value of a General
Investment Account or offshore bond without the client needing to
sell assets or hold them with a private bank, Firenze said in a
statement yesterday.
Minimum portfolio values are £150,000 ($201,361) for a GIA and
£500,000 for an offshore bond, subject to Firenze's underwriting.
Loans start from £65,000 and can reach up to 50 per cent of
portfolio value, with facilities typically live within 48 hours
of approval. Interest is charged only on drawn balances, with
variable rates ranging from Bank of England base rate plus 1.95
per cent to plus 3.25 per cent.
Lombard lending has traditionally been restricted to clients
holding assets with a private bank, limiting its use among the
wider UK investor base. AJ Bell has become the latest
platform to extend the model beyond private banking.
Firenze works with firms representing a combined £200 billion in
assets under management, according to the company. It was founded
in Manchester in 2024 by David Newman (main picture). Paul
Pester, former chief executive of TSB Bank and Virgin
Money is chairman; he also chairs Tandem Bank and the
National Bank of Bahrain.
AJ Bell, founded in 1995 and headquartered in Manchester with
offices in London and Bristol, is one of the UK's largest
investment platforms. Under the agreement, AJ Bell will not act
as credit broker and will have no role in Firenze's lending
decisions.
Mark Rendle, managing director of AJ Bell Investcentre, said
Lombard lending allows advisors and clients to
manage liquidity without disrupting investment strategy or
triggering capital gains tax through an asset sale.
Firenze struck a similar platform partnership in 2025,
reported at the time by WealthBriefing.