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Netwealth's charges are way below total costs of 2%, or more, levied by traditional advisers."
[Netwealth] have attracted a big-hitting team. The pair earlier this month signed up Gerard Lyons (pictured), who was previously the chief economic adviser to London mayor Boris Johnson, as chief economic strategist. Former UBS Asset Management executive director Iain Barnes has joined as head of portfolio management with Rachel Willox, latterly an executive director at JPMorgan, recruited as head of operations."
Founded by Charlotte Ransom, a former Goldman Sachs banker, the start-up hopes to challenge traditional wealth managers and private bankers with a low-cost, automated investment service. With a minimum investment of £50,000, it charges a tiered 0.65% management fee, dropping to 0.35% for those who put in more than £500,000, around a third of the cost of actively managed portfolios."
