UK digital wealth platform Sidekick launches

Finextra

5 hours ago

Sidekick, a new UK digital wealth platform built to serve six-figure earners who've outgrown basic financial products but don't have the millions needed to access private banks, has launched.
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Sidekick is one of a number of entrants targeting the mass affluent market, using technology to offer products and services once reserved for the super rich.
The company was co-founded by serial entrepreneur Matthew Ford (CEO) and Peter Townsend (CTO). Ford previously founded the mobile banking platform Pariti, where Townsend was CTO, which was sold to Tandem Bank in 2018.
'People in this bracket often don't realise how inefficient their finances are until it's too late,' says Ford. 'They're hit with 60% tax rates between £100,000 to £125,000 earnings, they're sitting on idle cash, or they're overexposed to their own company without even realising it.'
Among Sidekick's offerings is access to private equity-style investing for just £10,000. Eligible individuals can get access to a regulated Long-Term Asset Fund, which allows clients to invest in high-growth private companies through a professionally managed fund without needing the six-figure minimums usually required.
Beyond investments, users get access to an account that automatically spreads deposits across a panel of UK-regulated banks behind the scenes, enabling up to £255,000 of FSCS protection - all through a single interface.
And, for higher target returns, its Smart Cash product invests short-term funds into actively managed money market instruments, designed to outperform traditional savings rates while keeping funds accessible.
Says Ford: 'People earning six figures today still get offered the same tools as someone just starting out - and that's wrong. You shouldn't need a UBS account to access smarter ways to build wealth. With Sidekick, we're saying: you've worked hard, now your money should work just as hard for you.'