Horlick gets behind SME funding solution that has potential to provide £100bn of finance through investment from the pension funds of directors and business owners.
Following a search campaign conducted by Moon Consulting, Nicola Horlick, CEO of Money&Co., has been appointed a non-executive director of Pension-led funding specialists, Clifton Asset Management. Horlick, who launched crowdfunding platform Money&Co. in April 2014, will help to guide Clifton through its next phase of growth. The company facilitates investment into SMEs from the pension funds of directors and business owners. It also operates the website pensionledfunding.com.
Clifton won the Best Alternative Funding Provider Award in 2014 and is one of the largest providers of alternative business finance in the UK having facilitated more than £250 million in funding to more than 1,500 businesses. Nesta research found that almost two-thirds of SMEs using Pension-led funding saw their profits rise - and almost half employed more people.
Horlick has been a leading fund manager in the City of London for over 30 years. During that time, she has set up and managed several investment businesses. Money&Co. has a shared interest with Clifton as it provides loans to SMEs looking to grow their businesses.
Adam Tavener, Chairman of Clifton Asset Management said:
"We're delighted that Nicola has decided to become a non-executive director of our company. Her huge experience in the City and more recently in the alternative funding market will undoubtedly benefit both Clifton and pensionledfunding.com."
Nicola Horlick added:
"I get approached for non-exec roles almost every week, but what particularly attracted me to Clifton was that Pension-led funding is something that is genuinely original and disruptive in the pension space."
"Pension-led funding has the potential to become a much more mainstream funding solution for SMEs - particularly as the government, through pension freedom, has changed the mind set of not touching your pension until retirement. As a result, we are seeing a new wave of entrepreneurs turning to their pension funds for growth capital."
Clifton's Pension-led funding solution is aimed specifically at business owners and directors who have accumulated pension funds greater than £50,000. They don't need to be 55 or over, and should there be more than one owner director in the same firm, the pension funds can be amalgamated to invest in the business.
Adam Tavener continued:
"Pension-led funding has huge growth potential. Many entrepreneurs and business owners have been forced to personal guarantees, often putting their family home at risk. Pension-led funding allows business owners to invest in their businesses and potentially create a larger pot of money for their retirement if the business succeeds."
Clifton launched pensionledfunding.com to provide an online resource to business owners and their advisers. The site explains how pension-led business works and illustrates this with a number of case studies.
Vanessa Moon, Director of Moon Consulting said:
"It was a pleasure to work with both Clifton Asset Management and Nicola. We are delighted that she is joining such a prestigious and respected company. This assignment was a thorough search campaign where Moon Consulting utilised both our extensive professional network of talent along with our global search facilities."
Please see here for more information on Moon Consulting - Non-Executive recruitment.
 3.1m SME owner managers in the UK have a private pension pot. The National Office of Statistics calculated the average private pension pot is £25,000. Over its 20 years of working with SMEs Clifton has found the average SME owner pension pot is, in fact, £75,000 (3.1m x £75,000 = £232bn). Therefore, far more than £100bn of finance could be sourced directly through director/business owner pension funds.
 Nesta surveyed 15,658 people from March to September 2014 for Understanding Alternative Finance, The UK Alternative Finance Industry Report 2014. Nesta is an innovation charity that helps people and organisations bring the best out of their business through alternative funding.
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