The Most Influential People In Peer-To-Peer And The Bad Guys

The Most Influential People In Peer-To-Peer And The Bad Guys
Underwater by Andy Deitsch. Why?

As the list of the top 50 influencers in the peer-to-peer industry is announced, we also look at what's gone wrong with a number of platforms and why many peer-to-peer investors are facing increasing losses.

It's Frequently Quoted On Dragons’ Den That The Success Of An Investment Is Dependent On The People Running The business, So It's Vital To Know Who's Controlling Your Money

The Best In Peer-To-Peer

Recently published by Peer2Peer Finance News, the UKs first peer-to-peer finance magazine, is The P2P Power 50 2018.

It’s a breakdown of the most influential people in the UKs peer-to-peer lending sector.

The publication has been put together following consultation with industry stakeholders.  It identifies the big names from the platforms, government, regulators, accountants, law firms, trade bodies and consultants who have helped the sector flourish.

It demonstrates just how much this multi-billion pound industry has achieved over the past year.

The list of the top 50 people includes the head of the country’s first publicly-listed peer-to-peer platform, the leaders of fully-regulated Innovative Finance ISA providers and other inspiring innovators who are taking the industry to the next level.

The top 10 most influential people get a special mention.  They’re people that Peer2Peer Finance News believes have had the biggest impact on the industry and who will be the biggest drivers in its future.

If you’ve invested your cash or your SIPP or SSAS money in peer-to-peer, or you’re considering doing so in the near future, it’s well worth getting to grips with the movers and shakers who’ll be having a significant influence on your money.

Discover who’s top in peer-to-peer here.

The Worst In Peer-To-Peer

With such positive news, you’d be forgiven that everything is rosy in peer-to-peer land. 

Well, just like all forms of investment, sometimes things go wrong.

Quite a few peer-to-peer platforms have ceased trading in one form or another, including GraduRates, Fruitful, Encash, First Great National and Quakle. 

Collateral UK was trading without the required permission from the regulator, and is now no more.

Wellesley & Co has survived, but it’s no longer offering peer-to-peer lending products.

One of the biggest worries currently facing the industry is the £8 million contract dispute that Lendy is having with one of its borrowers. 

It comes on top of the declaration that more than two thirds of Lendy’s loans are now overdue. 

Faced with this negative news, the excellent service 4thWay, which compares peer-to-peer lending websites, has published this helpful article entitled What Have Failed P2P Lending Sites Got In Common?

It contains a comprehensive 21 point checklist.  It claims that if you’d followed the checklist in full, you wouldn’t have lent your money on any of the peer-to-peer platforms that have failed so far!

However, not included in the checklist is the fact you should establish whether the people behind a peer-to-peer platform's operations have the required skills and experience. 

To reduce your potential risk of losses further, in addition to the 21 points, make sure you undertake some thorough due diligence on the key people too.

You can read the 4thWay peer-to-peer article here.

Is Peer-To-Peer Worth It?

The simple answer is yes.  At a time when stockmarkets are volatile, diversifying money into peer-to-peer is no bad thing. 

But it’s always the same mantra, whatever your investment choices, be they inside or outside of the stockmarket.

You must do your due diligence carefully and thoroughly.

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