Is this a sign of things to come? Investments and wealth (private banking?) on the way 
Didnât this stuff leak a while back?
If anything this could be taken as a glimmer of confirmation. Because it sure does seem like Monzo are wanting to enter this game, and personally itâs where I think all the interesting fintech stuff will be this year and the next.
I donât think private banking though, just wealth management in general. Think Nutmeg as opposed to Coutts.
Personally feel anything involving âwealth managementâ is generally a service of private banking, but maybe thatâs old school.
Feels like itâs gonna be a big change for Monzo over the coming years 
3 Likes
It didnât so much leak as was briefed from Monzo PR as part of the recent raise. Monzoâs increasingly corporate these days with behaviours to match. Iâll leave it to you to decide whether those should be encouraged or not.
2 Likes
I disagree. Platforms like Nutmeg and what Marcus offer in the US (soon to be here too this year!) are considered wealth management. And these are for the masses, not The Queen.
9 Likes
Yeah, done right thereâs a whole market to democratise access to what was previously for the rich only. Thatâs Dozenâs mission, but I could see Monzo being particularly successful if well executed.
5 Likes
I did say most likely old school thinking 
1 Like
Good spot. Itâs a great idea to build that in to the app. Hopefully theyâll snag an A-player to run the show.
2 Likes
Hi guys, apologies if posted elsewhere. I saw this on LinkedIn and wondered what info there is on this topic already? Should have quite the impact on valuation if they get it right âŚ
Be interesting to see where this goes, Iâve felt that the âSavingsâ & Wealth Mgmt (Budgeting aside) side of Monzo hasnât really innovated in a while, and has even gone backwards, in my opinion.
What with Trends (if youâre a plustomer etc) and potential for better Saving options (Stocks & Shares ISA? etc) this could help to differentiate them in an increasing un-different market.
2 Likes
I donât think these are wealth management per se. I think wealth management is about advice rather than products, only the rich can really expect access to active wealth management!
Although the job add also doesnât say anything about âwealth managementâ. What it says is investment and wealth I.e places to put your excess money (share products, investment ISAs) for people to self-manage their money. Products, not advice.
I donât see Monzo going into active wealth management anytime soon, I do see them offering investment products / opportunities.
(We are talking about the same thing but good to be clear with terminology in case people think Monzo is becoming Coutts)
I disagree. I put a lot of money into Nutmeg and do nothing. They actively manage it for me, controlling how and where itâs invested so that it grows.
I think the distinction here is private, rather than management. Nutmeg actively manage your wealth, but itâs not private wealth management. Everyoneâs is actively managed the same way, though the software does provide you some degree of control too that tunes how they manage it.
Nutmeg even advertise their platform as:
the first and weâre now the largest digital wealth manager in the UK
Marcus call their offering wealth management too.
I get that they have managed funds but itâs still a way off traditional âwealth managementâ of the sorts the high end banks provide which would look at all of your wealth and tell you what to invest where (some but not all of that ending up in managed funds).
I wouldnât get too caught up on the terminology right now. Whoever they recruit would almost certainly properly scope it, but it looks like itâs their brief will be to build and investments (and seemingly, insurance) business.
1 Like
S&S ISAs and PensionsâŚ
pretty excited for investing pots - iâd personally leave freetrade in a heart beat if Monzo started offering ISAs/SIPPs etc.
I certainly hope these things arenât simply done as a pot. That would be awful.
Depends how they approach it, but in theory, if itâs like Freetrade/Revolut, I would too, providing they have all the stocks I like. If itâs more akin to Nutmeg, Iâd use it as GIA, but probably wouldnât switch from ones I use elsewhere. If itâs just a pot, then no, not for me. At the very least it needs to have a bit more thought and care put into it than that, more akin to how theyâve done Flex.
Should Monzo offer a service akin to Freetrade it would have to be a third party provider because it has taken Freetrade 4 years the get to this stage and thatâs as a dedicated broker, Monzo would take years in my opinion.
I would hope for an integration with Freetrade as I use, and enjoy, both and if Freetrade could implement itâs damn autopilot feature that has been promised for yonks then that would work nicely as a passive investment pot.
2 Likes
Iâd like it as a pot to be honest, think the simplified look in the all would he good, set your risk tolerance and add funds to the pot and watch it grow,
I like the way moneybox do it
I do love freetrade but hate picking my own stocks, share or funds
2 Likes
I agree, although not impossible I donât see Monzo listing as a trader on the LSE anytime soon. Near term, itâs surely a partnership with a listed trading firm.
2 Likes