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Alternatively, there are the “do it for you” providers who make the investment choices for you. Many are new digital offerings, which manage a range of funds tailored to your risk level, at a relatively low cost. Names here include Nutmeg, MoneyFarm and Netwealth"
Gerard Lyons, chief economic adviser to Netwealth Investments, said: 'It is very difficult to replicate the skills, knowledge, experience and infrastructure we have here in London … It will continue to be the dominant financial centre of Europe and one of the two major financial centres of the globe.'"
Slashing a single percentage point from annual fees could bring a 35-year-old investor nearly two extra decades of retirement income, according to investment manager Netwealth. Netwealth took the example of a 35-year-old who has built up a pension pot of £12,000, and then continues to invest £250 a month until the age of 65. With returns of 3.5% a year after charges, it could then generate an income of £9,000 a year for 24 years. However, cut charges by a percentage point, so the returns bump up to 4.5% a year, and the income could continue for 43 years."
Online investment management firm Netwealth says its average client size is more than £200,000, proving there is appetite among high-end investors for a digital service."
The BoE has consistently got its forecasts wrong," said Gerard Lyons of Netwealth Investments, a former adviser to Boris Johnson [...] "People are allowed to get their forecasts wrong but … when there's a consistent bias, that's when you have to reassess."
A new wealth manager, Netwealth, has spotted the potential of "multi-generational" investing […] It calculates fees on the basis of the total assets held in up to eight linked accounts."
Numbers crunched for Money by the investment manager Netwealth show that reducing annual charges by one percentage point could net you an extra two decades of comfortable retirement."
The research was produced by Netwealth Investments, one of a number of new services undercutting existing wealth managers and squarely aimed at well-off investors who want value for their money."
