Karsten Henriksen, head of modern wealth management for the UK market, said that the platform would allow users to manage their Isas and Sipps and invest in UK and overseas equity markets, gilts and corporate bonds, exchange-traded funds and more than 2400 managed funds.
The platform would include Morningstar data for funds and ETFs as well as an Ideator tool that can help clients to determine their general risk profile and start model portfolios.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Customers will not be charged transactional commission on either the purchase or sale of funds, said the bank.
Equity and ETF trades will cost GBP9.95 for orders up to GBP75,000, GBP39.95 for orders up to GBP300,000, GBP69.95 for orders up to GBP500,000 and will be negotiable thereafter.
Further, client cash will be guaranteed by the Danish state for the equivalent of GBP83,141.
Saxo Bank launched the new platform based on its survey that revealed 25% of investors had no clear understanding of the fees they pay or that they were prepared to pay for managing their wealth.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"The wealth management space in the UK is well developed and investors are sophisticated. The platform 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," Henriksen remarked.
