Firenze has signed a partnership with Söderberg & Partners Wealth Management to expand access to Lombard lending to the wealth management firm’s advisers and clients.

Söderberg & Partners Wealth Management is the UK arm of the Swedish wealth manager, which has been expanding its presence in the UK with several acquisition of IFA firms.

Firenze is a wealthtech firm looking to “redefine” Lombard lending by bringing it to mass affluent investors who choose not to work with private banks.

Lombard lending allows high net worth individuals (HNWI) to borrow against the value of their investment portfolios without selling assets, disrupting investment plans and triggering capital gains.

Through the partnership, Firenze will be integrated to enable Söderberg & Partners advisers to have access to Lombard lending.

Firenze’s platform offers loans from £65,000, secured against clients’ investment portfolios, at lower interest rates than typical unsecured loans as borrowing is secured lending with highly liquid collateral.

It said that Söderberg & Partners advisers would benefit from increased focus and improvement of investment decisions and portfolio performance; increased speed of investment for clients; use of borrowing as a strategic tool for tax planning and inheritance strategies; client support; and differentiation from competitors.

“Söderberg & Partners are one of the most exciting players in the UK wealth management market today and it is a real pleasure to partner with Nick and his team,” commented Firenze CEO, David Newman.

“They have a really innovative platform, have acquired some incredible firms and it’s great for their advisers and clients to now be able to benefit from Lombard lending.”

Söderberg & Partners Wealth Management CEO, Nick Raine, stated: “We’re delighted to partner with Firenze.

“Being able to offer Lombard lending provides our advisers with another tool in their arsenal and a distinct advantage, strengthening their broader proposition, offering forward-thinking, new ways to invest and engage clients, as well as growing AUM and competing with the private banks.”

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