Investec Wealth & Investment has introduced an online investment service, known as Click & Invest, that requires a minimum investment threshold of £10,000.
As part of the service, investment managers will create and oversee investment portfolios for clients.
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Portfolios will be chosen from over 300 funds, which will be reviewed every month.
Clients will be placed into defensive, cautious, measured, adventurous or aggressive portfolio following an application process based on their risk attitude. However, no formal advice process will be carried out.
The service will charge a management fee of 0.65% per year on the first £100,000 invested, 0.5% on the next £150,000 and 0.35% on more than £250,000.
Investec Click & Invest CEO Jane Warren said: “The service is simple, intuitive and transparent, offering clients the convenience and ease of an online service, with the knowledge that their money is being actively managed by our team of experts, not algorithms.”
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