I’m a mortgage advisor. Can someone tell me (preferably from Monzo) why they are reluctant or unable to offer wealth management products?
It seems a basic concept that in order for a company to be successful, they need to make some money. Having funding rounds and devaluing shares is not a viable financial plan for profit… is Monzo aware of this?
By wealth management I mean things like:
Trust & Estate Planning
I understand and support Monzo’s dismantling of the set norms and trying to help the little guy. But why can’t they help the little people (and them) make some money, by offering even the most basic of products (from which they can take commission)? Is it outside the realms of possibility that Monzo starts getting serious and making some money, in a typically no-BS straightforward Monzo fashion?
Never been one to invest short-term (and I want to hang onto my shares), but it’s looking increasingly like Monzo doesn’t have a plan for profit… what is the plan? Is there a plan? Do you guys want to make one?