Allianz GI taps Moneyfarm for low cost wealth management service

Allianz Global Investors (Allianz GI) has selected British digital wealth manager Moneyfarm to offer wealth management services to UK staff.

Allianz GI taps Moneyfarm for low cost wealth management service

Allianz Global Investors (Allianz GI) has selected British digital wealth manager Moneyfarm to offer wealth management services to its UK staff.

The two firms have developed an active wealth management solution, known as Moneyfarm powered by Allianz Global Investors, which will leverage the wealth manager’s digital customer experience and investor profiling alongside Allianz GI’s active investment management expertise.

The solution will invest in Allianz and Pimco funds and will be available to UK employees of Allianz at prices typically available to large clients.

The investment management will be outsourced to Allianz who will oversee strategic asset allocation, while decisions will be approved by the investment committee of Moneyfarm.

Allianz GI head of EMEA Tobias Pross said: “The launch of this programme in the UK is an exciting first step in our partnership with Moneyfarm, giving our UK-based colleagues access to professional investment management via a fully digital platform using actively managed Allianz Global Investors funds.”

The latest move comes after Allianz GI acquired a minority stake in Moneyfarm in September 2016.