The research paper provides a comprehensive evaluation of the impact of MiFID II over the last 18 months and what this means for the UK retail wealth management industry going forward.
The paper is underpinned by market research from intermediary businesses, DFMs and platform operators. By gathering feedback from a range of perspectives AKG have been able to explore the effectiveness of the regulation to date, understand the challenges currently being faced and identify opportunities for future improvements across the industry.
We believe wealth management should combine the best elements of a traditional discretionary service with the benefits of a technology-enhanced approach.
We have brought together a highly qualified team, a robust investment framework and a range of centrally managed portfolios that enable clients to meet their investment goals, at the same time as keeping the costs of investing to a minimum.
In our experience, a helpful way for clients to think about their assets is managing them across three hypothetical pots. These pots tend to represent how they live their lives, thus making financial planning more intuitive and accessible.
Netwealth helps clients with Pot 2.
Netwealth’s ambition is to deliver attractive portfolio performance over the medium to long term in order to give clients the best chance of meeting their investment goals.
We make active decisions about asset allocation and the appropriate markets to invest in while staying within the client's chosen risk parameters. We access markets predominantly through passive funds and ETFs to ensure high levels of diversification and to help keep the cost of investing low.
The long term mix of asset classes which drives the risk-return characteristics of each Risk Level
Deciding how best to gain exposure to our desired markets and selecting the most effective instruments
Adjusting the portfolios to mitigate the risks of current market conditions
Risk management is embedded in every stage of the investment process
Portfolios managed by an experienced macro and multi-asset investment team
Views based on long term strategic thinking, so we can be more patient for the investment team’s views to be rewarded
Conviction in the significant compounding value over time of minimising unnecessary, attritional costs within client portfolios
100% daily liquidity, but resistant to excessive trading
We believe in the long term value of keeping the total cost of investing as low as possible and compounding this benefit up over time.
When comparing Netwealth's annual MPS total charges of 0.48% to the median UK MPS total charges of 1.05%, clients could be £50,000 better off due to fees alone, over a 20 year investment period.*
* The median UK MPS total charges of 1.05% are calculated as the median AMC of 0.36% (inc. VAT) and the median underlying fund OCF of 0.69% of the DFMs listed in research by Platforum published in their UK Fund Distribution: Model Portfolios on Platform paper in July 2017. The Netwealth MPS total charges are calculated as the AMC of 0.24% (inc. VAT) and the estimated fund costs of 0.24%.
|Netwealth Discretionary Fee||Estimated Underlying Fund Costs|
|Discretionary Management Fee||0.20%||Fund Charges||0.19%|
|VAT||0.04%||Fund Cost of Trading||0.05%|
*Other costs of investing are applicable in relation to the friction costs of trading within the portfolios. The ongoing costs of trading are related to the spread between purchase and sale prices of instruments that are bought and sold on behalf of the client by Netwealth on an ongoing basis. The annual costs of trading are estimated to be 0.05%.
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