Wealth Club has launched its Wealth Club Portfolio Service, an online investment portoflio management service for HNW and sophisticated investors.
The Wealth Club service contains five multi-asset portfolios managed by the firm’s head of research, Jonathan Moyes, and his team.
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HNW investors can expect a similar portfolio from Wealth Club that they might expect from a private bank or wealth manager, but without the costs. Average ongoing costs are 1.08% and the firm claims investors could end up paying up to 40% less than through as adviser.
Features include:
- Five managed portfolios across a variety of risk levels;
- Investment across a wide range of asset classes, including bonds, equities, and property;
- A mix of passive and actively managed funds, and
- Savings versus conventional wealth management offerings.
Alex Davis, founder and CEO of Wealth Club, commented: “The Wealth Club Portfolio Service has been a number of years in the making. The idea was born out of personal experience. I have been investing since my teens and built a significant portfolio of funds and shares in ISAs, pensions and just on their own. Whilst many of these made sense at the time, the result is a mish mash of different funds and shares. I wasn’t quite sure if they fitted together any more, and managing them myself was getting very cumbersome.
“And I know I’m not alone. Many friends and clients tell us the same thing regularly.
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By GlobalData“The truth is that, despite the proliferation of innovative digital investment services, the wealthier, more sophisticated part of the market remains underserved. If you’re a relatively experienced investor and have significant assets, you probably don’t want to invest them with a robo adviser. So, you either go down the DIY route or put up with the fees an adviser, wealth manager or private bank might charge.
“The Wealth Club Portfolio Service provides an alternative. You have the benefits of a modern digital solution, namely convenience, simplicity and low costs, but without compromises on investment choice. Our portfolios are well-diversified, with exposure to all the main asset classes, including the likes of private equity and infrastructure. They are the sort of portfolio a private bank or wealth manager might build for you – but without the hefty price tag. In fact, you could pay around 40% less than you would if you used an adviser and roughly the same if managing a typical fund portfolio yourself on a DIY platform.”
Moyes added: “Each portfolio will invest across low-cost index funds, specialist actively managed funds and investment trusts. Investors can typically expect each portfolio to be invested across 30 -45 funds.
“Combining this investment approach with an online service means we can offer our clients a sensible well diversified investment portfolio. And, because the service is delivered online, at a low cost.”
According to Wealth Club, the average sum that families will have to pay in inheritance taxes is expected to climb to £238,000 in the fiscal year 2023/24.
More than 30,000 families are expected to be affected by this and will have to give a portion of their inheritance to the government.
