Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

Wealth firm ties up with Metro Bank for new service

by Elsa Buchanan on Jan 31, 2014 at 12:26

Wealth firm ties up with Metro Bank for new service

James Brearley & Sons has joined up with Metro Bank to offer a lending facility secured against clients’ assets.

The Metro Bank Money Management Account will be available to users of the wealth manager’s online dealing and custody service, the Pro Icon platform.

Borrowing will carry a one-off arrangement fee of 0.5% and an annual renewal fee of 0.25%, and will be available to clients with a minimum of £75,000 in assets. The minimum loan is set at £30,000, or 40% of total assets.

A Metro Bank cheque book and debit card will enable clients to create an overdraft position up to a fixed percentage of their portfolio value, subject to qualification requirements.

Loans will be offered at 3.95% over base rate.

James Brearley director David Hannis told Wealth Manager: ‘We believe the Metro Bank Money Management Account will now allow many of our intermediary clients to extend a service, which to date has only been available to high net worth clients via more traditional wealth management offerings.’

The firm has more than £1 billion in assets under management.

Metro Bank, which opened in 2010 with four branches, now has a 25-strong branch network spread around London and the South East.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?

Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the fund managers

  • David Hannis
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us


On the road

Click here to find out more from the Audience Development team.


Revealed: the fund stars of the future

on Apr 24, 2014 at 14:30

Sorry, this link is not
quite ready yet