⏳ Reading Time: 3 minutesGiovanni Daprà, co-founder and CEO of Moneyfarm, spoke with The Wealth Mosaic about the company’s journey, the strategic moves it has made along the way, and the changes he is anticipating and preparing for over the next few years. Here’s an extract from the interview.
Tell us about what led you to found Moneyfarm – what gap did you see in the market, and how did your earlier professional experiences help you to identify it?
The gap I saw in the market was the lack of solutions and advice for the mass-affluent space. Even today it’s very difficult for that segment to get advice. I had the idea of a digital platform, with a lower cost-to-serve and a customer price point than the traditional providers – that is what led me to open Moneyfarm and create that solution overlay on top of the traditional do-it-yourself platform. I had been working in investment banking and building products, so I saw the complexity of the industry and the information asymmetry which is still one of its building blocks. And that led me to push for greater simplification, and to deliver solutions in a different way.
What did the early years of Moneyfarm look like, and how has it grown since then?
