She previously founded money management app Snoop after 11 years at Virgin Money where she led the lender to IPO.
Moneyfarm’s current shareholders include M&G, Poste Italiane S.p.A, Cabot Square Capital, United Ventures, Fondazione di Sardegna, and Smedvig Capital.
D2C to hybrid advice
Back in August, Montgomery said over time, he does see "a blending" of what Moneyfarm provides today plus the company's hybrid advice services.
"So when you get to the more complex needs of customers, but they still want to interact with you through that digital channel, then they can get into hybrid advice," Montgomery explained at the time.
"You can see a natural evolution from: a customer joins with simple needs, they then acquire a more complex set of requirements and they can go into hybrid advice.
"And then over time, they may need full, holistic planning and want a financial adviser involved."
M&G Wealth is also in the process of building out its hybrid advice service with a view to offering it to retail banks’ customers.
The wealth arm of M&G said banks are a good avenue for tapping the mass market and increasing the uptake of financial advice across the UK.
At the end of 2021, M&G launched its hybrid advice service - a mix of technology and its self-employed advisers checking outcomes.
The service, developed with the help of Australia-based technology provider Ignition Advice, was ‘soft launched’ to a group of existing customers last year ahead of a wider roll out throughout 2022.
ruby.hinchliffe@ft.com
