The bank has always offered Lombard facilities, which allow clients to access funds secured against their existing investments, but it is now able to do so at a highly competitive rate.
Oliver Barnett, Head of Private Clients, explained: “The arena of Lombard lending is undergoing significant tech-driven disruption at present, giving rise to a number of exciting opportunities.
“Technology is making Lombard lending faster and more efficient, with real-time portfolio monitoring and dynamic risk management.
“By embracing such advances, we’re taking advantage of important innovations in this space while at the same time continuing to put our clients at the heart of everything we do.”
Lombard lending supports investors who require liquidity – for example, to seize business opportunities, meet tax liabilities or even reinvest further in their portfolios – but want to preserve their existing investment strategies.
As well as being available against investments under the bank’s own advice, one significant advantage of the Weatherbys Lombard lending offering is the ability for clients to arrange facilities against portfolios managed elsewhere, without the inconvenience of changing investment managers or custodians.
Subject to a portfolio being suitable for Lombard lending, Weatherbys will now charge an interest rate margin of 1.48% above the Bank of England base rate.
Barnett added: “This new offering features not only what we consider very competitive terms but significant flexibility, and our incorporation of financial technology has played a substantial role in making that possible.
“We see this as attractive not just for our investment advice clients but also for other advisers in our market, who can support their clients in this way without any disruption to the provision of advice or the underpinning relationship.
“This underlines our wider commitment to ensuring clients enjoy the best of both worlds – a highly personalised service backed by all the new benefits stemming from technological progress.”