Revolut primed for wealth management push after FCA approval

Revolut is set to expand its investment services in the UK after securing a series of permissions from the Financial Conduct Authority (FCA).

According to Revolut, the move opens the door to "more sophisticated wealth management services" and a broader product suite, including leveraged products.

Two of the permissions granted allow Revolut to manage investments and to deal as a principal.

This means that the challenger bank can provide more than just a basic brokerage service. It also allows Revolut to service high net worth investors and advanced traders in the same 'ecosystem' as retail investors. 

“These permissions are the missing piece allowing us to unite investment, advisory and portfolio management under one roof, making them even more accessible," said Revolut Trading Limited's head of operations Victoria Laffey. 

"Our mission has always been to remove the friction of fragmented financial services; and we can now put sophisticated wealth management products and tools in the hands of every type of investor, helping our customers build and manage wealth with confidence.”

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