P1 Platform has partnered with a fintech firm to offer Lombard loans of up to £5mn to advisers and their clients.
P1 Investment Services, operator of the P1 Platform, has partnered with fintech Firenze, which launched in January, to broaden access of Lombard loans.
Lombard loans are traditionally reserved for private banking customers and are not widely available to much of the population.
They allow borrowers to retain control of their investment assets and any potential returns whilst still providing them with access to cash, when needed.
This can be important when market conditions are less favourable for selling investments, when a client does not want to break their Isa, or where they do not want to crystallise a capital gains tax liability.
James Priday, CEO of P1 Investment Services, said: “This integration is a significant step in making the P1 Platform the hub for accessing integrated financial and investment services for advisers and their clients. Over the next year, we’ll be revolutionising what people believe an investment platform is, skipping forward to platform 4.0, 5.0 and beyond.”
