Modern Wealth Management allows clients to change weightings or remove funds or ETFs from the model portfolio, and manage ISA and SIPP investments, as well as investing in the UK and overseas equity markets, gilts and corporate bonds, a range of ETFs, and managed funds.
The incorporation of the online platform is due to a survey commissioned by the bank that found over 78% of the respondents managing at least some of their investments online, said the company.
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Karsten Henriksen, head of MWM for the UK market, remarked, "The wealth management space in the UK is well developed and investors are sophisticated, and MWM meets their needs by providing simple, easy to use tools and offers transparent fees and guidance for those who are just beginning to take their wealth into their own hands."
The company said it will not charge any upfront fees on fund purchases on the platform, while equity and ETF trades would cost GBP9.95 for orders up to GBP75,000.
MWM uses Morningstar tools and data for funds and exchange traded funds, while an integrated tool called Ideator would help clients determine their risk profile and begin with model portfolios selected by Morningstar Investment Consultants.
Using MWM, investors will be also be able to manage their ISA and SIPP investments and also invest in the UK and overseas equity markets, gilts and corporate bonds, a wide range of ETFs and over 2,400 managed funds, the company claims.
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