Privat 3 Money (P3), the UK’s premier WealthTech institution, has announced optimizations to its cutting-edge mobile Investment platform.
Following the platform’s successful recent launch, P3 has been working tirelessly to enhance the user experience and provide clients with more lucrative financial opportunities.
Building upon its commitment to innovation, P3 has implemented the following updates to its trading facility powered by P3 Wealth and DriveWealth:
- Earn Monthly Dividends with Money Market (MM) Sweep: Qualified clients now can earn monthly dividends on uninvested USD cash balances through their P3 enabled brokerage account. With the US Fed fund rate currently sitting at around 5%, P3 enables clients to automatically earn a solid yield without significant effort. The Money Market fund, provided in collaboration with DriveWealth, boasts a current 1-day yield of 4.86% (see prospectus for details).
- Enhanced User Interface with Dedicated Service Lines: The P3 trading app now features two clear service lines within a single application, providing clients with a streamlined experience. The updated interface includes a dedicated e-money ecosystem and a dedicated investment interface.
- Advanced Metrics for Informed Cash Management: In response to valuable user feedback, clients can now access crucial information such as buying power, available funds, and overall account balance in the investment interface. These valuable metrics provide a comprehensive overview of financial positions, empowering clients to make well-informed investment decisions.
- Immediate Computing of Buying Power: Once funds have been deposited into the investment account, buying power is immediately available. This means that clients can seize investment opportunities without delay, ensuring they never miss lucrative trading prospects. Additionally, upon the sale of a position in a client portfolio, buying power is immediately updated and available for further investment without the necessity to wait for the usual T+2 settlement time.
The DriveWealth partnership with P3 has been facilitated via a tie up with P3 Wealth, an FCA regulated investment firm wholly owned by Reda Bedjaoui, P3’s Founder. It’s this relationship that allows P3 clients who are boarded to DriveWealth to transact due to the licence provided by P3 Wealth.
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