Third Financial and Firenze partner to offer estate planning solution

Third Financial and Firenze have partnered to offer an estate planning solution, with the duo delivering their first facility through the solution for the client of a UK-based boutique wealth manager.

The multi-million pound Lombard lending facility allowed the borrower to release liquidity from their investment portfolio to assist their estate planning.

The UK company executive held a ‘substantial’ investment portfolio but wanted access to liquidity without selling assets, triggering capital gains tax, or transferring custody.

To meet these demands, Firenze provided the lending capability and Third Financial acted as the technology and platform provider, enabling the client to utilise a bespoke investment-backed loan that is now operational.

The firms said this allowed the client to unlock liquidity while reducing the value of their estate for intergenerational planning and retaining their investment holdings.

This initial facility is expected to be the “first of many” as wealth managers look to deepen client relationships, provide value beyond investment management, and offer innovative planning solutions.

The partnership is based on Firenze’s aim to take Lombard lending out of private bank exclusivity, and Third Financial’s digital wealth capabilities.

“Working with Third Financial has enabled us to deliver a truly differentiated liquidity solution,” said Firenze CEO, David Newman.

“We’re proud to support clients who need intelligent loan solutions and technology partners like Third with whom we can integrate seamlessly, sharing a vision for innovation and providing the market with a holistic wealth management solution.”

Third Financial commercial director, Ricky Ali, added: “We’re thrilled that through our collaborative partnership with Firenze, our proprietary technology has enabled the offering of such a unique solution, allowing clients to plan financially for their future.”

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