Firenze has partnered with Parmenion to provide the platform’s clients and advisers with access to Lombard lending.

Clients of advisers using Parmenion’s platform will be able to borrow against the value of their investment portfolios without selling assets.

Firenze was launched with the aim of making Lombard lending more accessible, as it believed the solution was traditionally reserved for the ultra wealthy clients of private banks.

It offers loans from £65,000, secured against clients’ investment portfolios, aiming to increase liquidity for other investments.

As borrowing is secured lending with highly liquid collateral, Lombard lending looks to offer lower interest rates compared to typical unsecured loans and allows decisions to be made more quickly.

Through the integration, Firenze said Parmenion advisers would benefit from increased focus and improvement of investment decisions and portfolio performance, quicker investment for clients, and the use of borrowing as a strategic tool for tax planning and inheritance strategies.

Furthermore, it argued the partnership would support clients with intelligent cashflow solutions without sacrificing market exposure, and differentiate advisers from their competitors and help them to compete against private banks.

“It is an absolute pleasure to be working with Parmenion,” said Firenze CEO, David Newman.

“From the outset, getting to know the Parmenion team, and every interaction since, we have been nothing but impressed with their customer-centric attitude and desire to build solutions for their advisers in the right way; it is no surprise they are the most-recommended platform.

“Most excitingly, it is great to see that, so soon after launch, the Lombard lending proposition is already resonating with advisers. Assets are already being moved to Parmenion to allow advisers to better meet clients’ needs."

Parmenion chief customer officer, Sarah Lyons, added: “We’re delighted to partner with Firenze. The adviser and client benefit is clear – Lombard lending provides another option for investments, with clear upsides.

“But it’s the speed and innovation we’re particularly supportive of. We believe in being agile, and being able to offer this innovative solution is important for our advisers and clients – we’re proud to have done so within just eight weeks and can’t wait to see the benefits Lombard lending brings to our end clients.”

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