Monzo - Insurance and Wealth business

Is this a sign of things to come? Investments and wealth (private banking?) on the way :rocket:


Didn’t 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 it’s where I think all the interesting fintech stuff will be this year and the next.

I don’t think private banking though, just wealth management in general. Think Nutmeg as opposed to Coutts.

Personally feel anything involving “wealth management” is generally a service of private banking, but maybe that’s old school.

Feels like it’s gonna be a big change for Monzo over the coming years :heart_eyes:


It didn’t so much leak as was briefed from Monzo PR as part of the recent raise. Monzo’s increasingly corporate these days with behaviours to match. I’ll leave it to you to decide whether those should be encouraged or not.


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.


Yeah, done right there’s a whole market to democratise access to what was previously for the rich only. That’s Dozen’s mission, but I could see Monzo being particularly successful if well executed.


I did say most likely old school thinking :joy:

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Good spot. It’s a great idea to build that in to the app. Hopefully they’ll snag an A-player to run the show.


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 …

Be interesting to see where this goes, I’ve felt that the “Savings” & Wealth Mgmt (Budgeting aside) side of Monzo hasn’t really innovated in a while, and has even gone backwards, in my opinion.

What with Trends (if you’re 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.


I don’t 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 doesn’t say anything about ‘wealth management’. 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 don’t 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 it’s invested so that it grows.

I think the distinction here is private, rather than management. Nutmeg actively manage your wealth, but it’s not private wealth management. Everyone’s 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 we’re now the largest digital wealth manager in the UK

Marcus call their offering wealth management too.

I get that they have managed funds but it’s still a way off traditional ‘wealth management’ 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 wouldn’t get too caught up on the terminology right now. Whoever they recruit would almost certainly properly scope it, but it looks like it’s their brief will be to build and investments (and seemingly, insurance) business.

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S&S ISAs and Pensions…

pretty excited for investing pots - i’d personally leave freetrade in a heart beat if Monzo started offering ISAs/SIPPs etc.

I certainly hope these things aren’t simply done as a pot. That would be awful.

Depends how they approach it, but in theory, if it’s like Freetrade/Revolut, I would too, providing they have all the stocks I like. If it’s more akin to Nutmeg, I’d use it as GIA, but probably wouldn’t switch from ones I use elsewhere. If it’s 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 they’ve 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 that’s 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 it’s damn autopilot feature that has been promised for yonks then that would work nicely as a passive investment pot.


I’d 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


I agree, although not impossible I don’t see Monzo listing as a trader on the LSE anytime soon. Near term, it’s surely a partnership with a listed trading firm.