To provide better services for its customers in the United Kingdom, eToro has partnered with Moneyfarm, a European digital asset manager, to offer ISA service.
Online broker eToro has partnered with European digital wealth manager Moneyfarm to provide eToro UK clients with an ISA solution. Clients can access stock ISAs and view their ISA balances displayed in the eToro portfolio. Money deposited in the ISA will also count toward the Club eToro program, so clients who qualify will receive certain rewards depending on how high their level is in Club eToro.
The rollout of the ISA solution for eToro clients will be phased in, with further product additions to be implemented over the coming months.
Moczulski, UK Managing Director, eToro, as to the addition of ISA proposition for the customers, says, "This will provide more than three million registered clients in the UK with a tax-efficient wrapper for investing, and given the significant upcoming changes to the Capital Gains Tax threshold."
He also says, "eToro UK clients will now have the convenience of being able to open a Stocks and Shares ISA with Moneyfarm via our app, while continuing to use the eToro app to invest in a range of assets from stocks and crypto to commodities and ETFs."
Daniel Giddings, Head of Business Development UK, Moneyfarm, says about this cooperation, "Announcing this commercial agreement with eToro is further evidence of our ongoing commitment to grow our B2B2C business and leverage our API capabilities."
He further explains the commitment, saying, "What is important initially is to provide an ISA solution to eToro and its customers providing discretionary risk-rated portfolios in a timely manner. We are focused on delivering for our clients and continuing to evolve our proposition, and developing our B2B2C solutions is a key area of growth for Moneyfarm."