PlatformsJun 13 2018

Platform Fundment to expand into Edinburgh

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Platform Fundment to expand into Edinburgh

Investment platform Fundment is preparing to expand into Edinburgh later this year with a new office and dedicated team in Scotland's capital.

Ola Abdul, chief executive and founder of Fundment, said the company was hoping to be set up in Edinburgh by the fourth quarter of this year. 

Mr Abdul said: "This is partly due to client demand and plans we have already had in place on the business side to expand.

"We are working to build out to scale in Edinburgh to be closer to Scottish financial advisers and advisers in the north of England."

According to Mr Abdul, he hopes eventually to have a team of 10 people based in the Edinburgh office within three to six months of opening up.

"There is a lot of financial services talent there", he said, adding that any potential referendum on the independence of Scotland would not be a "big worry". 

Last year, Fundment, which also offers a digital white-label service to help advisers launch their own robo-advice propositions, branched into pensions with a new, low-cost self-invested personal pension (Sipp).

As reported in FTAdviser, the service, offered in partnership with Liberty Sipp, enables IFAs to advise clients on a Sipp in less than 10 minutes.

Mark Polson, principal at investment consultancy The Lang Cat, said: “Scotland is home to a growing number of fintech innovators. Fundment would be a welcome addition to that vibrant community.

"In Edinburgh, it will find a rich pool of potential employment candidates to strengthen its service and engage with advisory businesses that might want to embed discretionary fund management technology into their investment propositions."