JLT buys saving and investment service Moola
UK-based JLT Employee Benefits (JLT) has acquired the digital saving and investment service Moola, subject to regulatory approval.
As reported in June 2017, Moola launched with the idea to tap into the market of “mass affluent people”.
At that time, Moola said it uses “modern techniques” to spread an investment across sectors and countries, but does remind users that “capital is at risk”.
Moola offers customers the opportunity to invest in Individual Savings Accounts (ISAs), Generalised Investment Accounts (GIA), as well as “ethical and tax efficient” portfolios.
According to JLT, Moola provides free educational content to “empower individuals with the knowledge to make smarter decisions with their money and enable them to cut through financial jargon”. Shame it didn’t remove the jargon from its press release.
Bala Viswanathan, CEO, JLT Employee Benefits, says: “Employee wellness is going to form an integral part of our UK employee benefits proposition, and Moola will enhance our financial wellbeing offering. Given this shared ethos we believe JLT provides the right home for Moola.”
Following this acquisition, the complete Moola team, including Gemma Godfrey, founder and CEO, will join JLT. Financial details about the acquisition were not disclosed.
Jardine Lloyd Thompson (aka JLT) is a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services.
It owns offices in more than 40 territories with over 10,000 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.