Wealth Club, the investing service in the UK for seasoned investors, is launching a new investment line with assistance from Seccl, the embedded investment platform owned by Octopus.
The Wealth Club, which was established in 2016 by former Hargreaves Lansdown shareholder and director Alex Davies, has over 50,000 members and 11,000 active investors who have invested more over £1.1bn ($1.39bn) on the platform.
Until recently, these investments were primarily made in tax-advantaged schemes such as Venture Capital Trusts (VCT), Enterprise Investment Schemes (EIS), Seed Enterprise Investment Schemes (SEIS), and Inheritance Tax (IHT) portfolios.
As well as non-traditional asset classes such as private equity, that were formerly the domain of institutional investors.
With the introduction of its “Quality Shares Portfolio,” Wealth Club is now expanding on its track record of success in the alternative investment market.
The Quality Shares Portfolio, overseen by former Hargreaves Lansdown investment manager Charlie Huggins, enables Wealth Club members to invest through their stocks and shares ISA or a General Investment Account (GIA).
It is in a select group of 15 to 20 ‘high conviction’ companies chosen for their resilience, financial strength, and pricing power.
A new Wealth Club Self-Investment Personal Pension (SIPP) that uses Seccl’s infrastructure of software and services, including custody, investment operations, and digital tax wrappers, will soon make the portfolio accessible within it as well.
A custom accumulation pension created by Seccl was led towards the end of the previous year, and drawdown functionality is likely to follow.
Alex Davies, CEO of Wealth Club, said: “We are proud of the reputation we have built as the leading online service for high net worth and sophisticated investors. The launch of our Quality Share Portfolio is an exciting next step in our journey, allowing us to provide a broader range of investments to support our fast-growing membership.
“The calibre of Seccl’s technology and expertise has allowed us to launch this new proposition to our members with remarkable speed and ease – and we are excited to work with them as we continue to add strength and depth to our range of listed portfolios.”
David Ferguson, CEO of Seccl, added: “Wealth Club is a brilliant business that’s built on a simple premise: they deliver a consistently excellent service to their customers.’’
‘’They’re the latest proof of how firms of all shapes, sizes and pedigrees can harness Seccl’s embedded investment platform to build tailored, future-proofed investment experiences – then bring them to market at incredibly low cost and in record quick time.”