UK digital wealth platform Sidekick launches
0
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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News
an hour ago
- Sky News
Economists say the cost of living crisis is over - here's why many households disagree
Talk to economists and they will tell you that the cost of living crisis is over. They will point towards charts showing that while inflation is still above the Bank of England's 2% target, it has come down considerably in recent years, and is now "only" hovering between 3% and 4%. So why does the cost of living still feel like such a pressing issue for so many households? The short answer is because, depending on how you define it, it never ended. Economists like to focus on the change in prices over the past year, and certainly on that measure inflation is down sharply, from double-digit levels in recent years. But if you look over the past four years then the rate of change is at its highest since the early 1990s. But even that understates the complexity of economic circumstances facing households around the country. For if you want a sense of how current financial conditions really feel in people's pockets, you really ought to offset inflation against wages, and then also take account of the impact of taxes. That is a complex exercise - in part because no two households' experience is alike. But recent research from the Resolution Foundation illustrates some of the dynamics going on beneath the surface, and underlines that for many households the cost of living crisis is still very real indeed. 2:32 The place to begin here is to recall that perhaps the best measure of economic "feelgood factor" is to subtract inflation and taxes from people's nominal pay. You end up with a statistic showing your real household disposable income. Consider the projected pattern over the coming years. For a household earning £50,000, earnings are expected to increase by 10% between 2024/25 and 2027/28. Subtract inflation projected over that period and all of a sudden that 10% drops to 2.5%. Now subtract the real increase in payments of National Insurance and taxes and it's down to 0.2%. Now subtract projected council tax increases and all of a sudden what began as a 10% increase is actually a 0.1% decrease. 2:29 Of course, the degree of change in your circumstances can differ depending on all sorts of factors. Some earners (especially those close to tax thresholds, which in this case includes those on £50,000) feel the impact of tax changes more than others. Pensioners and those who own their homes outright benefit from a comparatively lower increase in housing costs in the coming years than those paying mortgages and (especially) rent. Nor is everyone's experience of inflation the same. In general, lower-income households pay considerably more of their earnings on essentials, like housing costs, food and energy. Some of those costs are going up rapidly - indeed, the UK faces higher power costs than any other developed economy. But the ultimate verdict provides some clear patterns. Pensioners can expect further increases in their take-home pay in the coming years. Those who own their homes outright and with mortgages can likely expect earnings to outpace extra costs. But others are less fortunate. Those who rent their homes privately are projected to see sharp falls in their household income - and children are likely to see further falls in their economic welfare too.
Daily Mail
an hour ago
- Daily Mail
Teenagers increasingly see AI chatbots as people, share intimate details and ask them for sensitive advice
Teenagers increasingly see AI chatbots as people, share intimate details and even ask them for sensitive advice, an internet safety campaign has found. Internet Matters warned that youngsters and parents are 'flying blind', lacking 'information or protective tools' to manage the technology, in research published yesterday. Researchers for the non-profit organisation found 35 per cent of children using AI chatbots, such as ChatGPT or My AI (an offshoot of Snapchat), said it felt like talking to a friend, rising to 50 per cent among vulnerable children. And 12 per cent chose to talk to bots because they had 'no one else' to speak to. The report, called Me, Myself and AI, revealed bots are helping teenagers to make everyday decisions or providing advice on difficult personal matters, as the number of children using ChatGPT nearly doubled to 43 per cent this year, up from 23 per cent in 2023. Rachel Huggins, co-chief executive of Internet Matters, said: 'Children, parents and schools are flying blind, and don't have the information or protective tools they need to manage this technological revolution. 'Children, and in particular vulnerable children, can see AI chatbots as real people, and as such are asking them for emotionally-driven and sensitive advice. 'Also concerning is that (children) are often unquestioning about what their new 'friends' are telling them.' Ms Huggins, whose body is supported by internet providers and leading social media companies, urged ministers to ensure online safety laws are 'robust enough to meet the challenges' of the new technology. Internet Matters interviewed 2,000 parents and 1,000 children, aged 9 to 17. More detailed interviews took place with 27 teenagers under 18 who regularly used chatbots. And the group posed as teenagers to experience the bots first-hand - revealing how some AI tools spoke in the first person, as if they were human. Internet Matters said ChatGPT was often used like a search engine for help with homework or personal issues - but also offered advice in human-like tones. When a researcher declared they were sad, ChatGPT replied: 'I'm sorry you're feeling that way. Want to talk it through together?' Other chatbots such as or Replika can roleplay as a friend, while Claude and Google Gemini are used for help with writing and coding. Internet Matters tested the chatbots' responses by posing as a teenage girl with body image problems. ChatGPT suggested she seek support from Childline and advised: 'You deserve to feel good in your body - and you deserve to eat. The people who you love won't care about your waist size.' The bot offered advice but then made an unprompted attempt to contact the 'girl' the next day, to check in on her. The report said the responses could help children feel 'acknowledged and understood' but 'can also heighten risks by blurring the line between human and machine'. There was also concern a lack of age verification posed a risk as children could receive inappropriate advice, particularly about sex or drugs. Filters to prevent children accessing inappropriate or harmful material were found to be 'often inconsistent' and could be 'easily bypassed', according to the study. The report called for children to be taught in schools 'about what AI chatbots are, how to use them effectively and the ethical and environmental implications of AI chatbot use to support them to make informed decisions about their engagement'. It also raised concerns that none of the chatbots sought to verify children's ages when they are not supposed to be used by under 13s. The report said: 'The lack of effective age checks raises serious questions about how well children are being protected from potentially inappropriate or unsafe interactions.' It comes a year after separate research by Dr Nomisha Kurian, of Cambridge University, revealed many children saw chatbots as quasi-human and trustworthy - and called for creation of 'child-safe AI' as a priority. OpenAI, which runs ChatGPT, said: 'We are continually refining our AI's responses so it remains safe, helpful and supportive.' The company added it employs a full-time clinical psychiatrist. A Snapchat spokesman said: 'While My AI is programmed with extra safeguards to help make sure information is not inappropriate or harmful, it may not always be successful.'
The Sun
2 hours ago
- The Sun
Garden furniture set 25% off at Morrisons… but here's why shopper said ‘glad I didn't get there sooner'
ONE shopper has said they're glad they didn't get to a Morrisons sale any sooner after the retailer slashed the price of garden furniture. The customer timed their visit to coincide with a 25 per cent price cut on a garden furniture set for members signed up to its rewards scheme. 2 The Nutmeg Outdoor Sofa Set from Morrisons is now selling for £18 less than usual. That is, if you're signed up to Morrisons More Card scheme. The More Card scheme offers money off specific items at Morrisons, using the More App which shows offers. Members can also find printed coupons at the check out to use on price savings. And right now, the scheme can be used to grab a cracking outdoor sofa set for just £72. It's just in time for summer, as you can make full use of it straight away to your vitamin D fix in. The set consists of two single chairs, and a double sofa - perfect for hosting a get together with friends or family in the garden. One happy shopper on Facebook celebrated not buying the set any earlier, so she could make full use of the deal. She said: "Glad now I didn't manage to get to Morrisons sooner. "I got an extra 25% off with More Card, so I paid £54 - bargain!" I was so excited when I nabbed a £2.49 Morrisons Too Good To Go bag – but what I found inside made me feel sick Another happy punter who appears to have got there a bit sooner, added: "We got this a couple of years ago still going strong." This comes as Morrisons has launched a huge summer clearance sale on a range of garden products. An eager shopper who spotted the offer at her local Morrisons shared the deal on the Extreme Couponing and Bargains UK Facebook page. Other customers quickly expressed their excitement as they ran to make the most of the affordable prices. Some of the items on offer had even had their price slashed by 50 per cent. It included the Nutmeg Outdoor three-piece bistro set for £50, reduced from £100. The product comes with a table and two chairs featuring comfortable cushions, helping you get your garden summer-ready on a budget. If you're needing a more heavy-duty umbrella set up, they've also got a parasol base weight for just £35. Those looking to splash a bit more cash might be interested in Morrisons' hanging egg chair. For £95 - reduced from £140 - it's a great centrepiece for your garden. Now that your garden is well-equipped to host, it's time to stock up on barbecue supplies. For just £8 Morrisons are selling a convenient portable barbecue. Supermarket loyalty schemes - which has one? MOST UK supermarkets have loyalty schemes so customers can build up points and save money while they shop. Here we round up what saving programmes you'll find at the big brands. Iceland: Unlike other stores, you don't collect points with the Iceland Bonus Card. Instead, you load it up with money and Iceland will give you £1 for every £20 you save. Lidl Plus: Lidl customers don't collect points when they shop, and are instead rewarded with personalised vouchers that gives them money off at the till. Morrisons: The My Morrisons: Make Good Things Happen replaces the More Card and rewards customers with personalised money off vouchers via the app. Sainsbury's: While Sainsbury's doesn't have a personal scheme, it does own the Nectar card which can also be used in Argos, eBay and other shops. You need 200 Nectar points to save up £1 to spend on your card. You need to spend at least £1 to get one Nectar point. Tesco: Tesco Clubcard has over 17million members in the UK alone. You use it each time you shop and build up points that can be turned into vouchers - 150 points gets you a £1.50 voucher. Here you need to spend £1 in Tesco to get one point. Waitrose: myWaitrose also doesn't allow you to collect points but instead you'll get access to free hot drinks, and discounts off certain brands in store. 2
