If you are a client of Furnley House, you may well have come across Fundment as part of your financial planning process.
In this blog, we answer some commonly asked questions about who Fundment are and what they do.
What is Fundment?
Fundment is our preferred investment platform. An investment platform provider is a company that offers a digital platform for individuals or businesses to invest. These platforms facilitate the buying and selling of securities, such as stocks, bonds, mutual funds, and other investment products.
Why Fundment?
Many platform providers make use of technology they have not designed or created themselves: so-called ‘white labelled’ solutions. Fundment is different – they use their own bespoke platform. This enables them to be more innovative and to take action in response to client feedback and suggestions. Fundment’s technology is up-to-date and fit for purpose, which we think makes a great base on which to host your investments.
Does Furnley House have any financial stake in Fundment?
No, Furnley House does not have a financial stake or commercial interest in Fundment. However, our investment service provider Asset Intelligence Portfolio Management does have a commercial relationship with Fundment which allows Furnley House clients to gain access to the platform at a lower cost.
Who are the Fundment management team?
The leadership team at Fundment are all highly experienced financial services professionals. Co-founder and CEO Ola Abdul has a background working in exchange-traded funds at BlackRock, the largest asset manager in the world. Another co-founder, Chris Booker, is also Chief Technology Officer and has an investment banking background. The broader leadership team also includes people who have previously worked at some of the largest platforms, auditors and pension providers. The biggest investor in Fundment is ETF Capital, which scrutinises and oversees decisions that are made by the Fundment team.
Does Furnley House have a strategy to move all clients to Fundment?
We move clients on an individual basis when they have reviews, depending on whether Fundment is the most suitable platform for them. We’ve worked hard to ensure that when our clients are moved, they stay in the market so don’t miss out on any potential gains.
Who has custody of my money if I move to Fundment?
Fundment is merely a technology provider. It does not have custody of any client assets and will never be able to access them. The money sits ringfenced either by HSBC or by the independent custodian contracted by Fundment, Allfunds Bank. Allfunds Bank are one of the largest custodians in Europe and have over 1.3 trillion euros under administration.
What due diligence did you apply to Fundment?
Our sister company Asset Intelligence Portfolio Management undertook significant research and due diligence into Fundment before entering into an arrangement with the firm. Furnley House have a constructive and open relationship with Fundment, allowing any questions for, or requests of, the firm to be addressed swiftly. We have also had a chance to review Fundment’s technology roadmap, so are aware of the direction the platform will be taking in future.
We hope this blog has answered any questions you may have about Fundment, if you require any additional information, please get in touch with your financial adviser.
