Moneyfarm reports £12.5m loss and expects to lose more

Moneyfarm's strategic report for the year ending 31 December 2018 revealed a loss of some £12.57m, slightly down from the previous year's loss of £13.93m.  The firm's directors predicted the company's losses will continue throughout the next 12 months. The digital wealth manager said its focus was on delivering continuous growth in the market share and customer base, as well as developing new products. Moneyfarm co-founder and chairman Paulo Galvani said: "In 2018 we focused heavily on our growth strategy, with scale the key to reaching profitability. "Having expanded into Germa...