Funding Circle, FCA, Interactive Investor, Zopa and WealthSimple in Investments this week
- Funding Circle is planning to raise capital from a planned stock market listing in 2018 to fund a marketing campaign in the US. The peer-to-peer lender’s brand awareness in the UK is 8% compared to 1% in the US.
- FCA has warned that the rise of Bitcoin fraud means young people under the age of 25 are more likely to fall victims to investment scams. According to the regulator’s research, under-25s are six times more likely to trust an investment offer received via social media compared to the over-55s
- Interactive Investor has apologised to customers who were migrated to the TD Direct investing platform in December 2017 and have been prevented from trading online on certain days since then by service interruptions. It said the failures had been caused by a problem with a technical change to how trading commissions were presented and were not related to the customer migration, adding that it did not expect further outages
- Zopa has re-opened its platform to new customers. Since March 2017, Zopa has operated a waiting list to prioritise existing customers. This will remain in place and customers joining the list now may wait around a month, depending on demand from existing customers
- Wealthsimple, the global online investment manager, has launched Socially Responsible Investing portfolios with management fees of 0.5% to 0.7%, including access to on-demand advice from experienced investment advisers by phone or email.
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