After a 20 year career at Goldman Sachs, the last 5 of which as co-head of private wealth for EMEA and Asia, I found myself in a state of paralysis when it came to my own finances. I knew that I did not want to manage my own money, yet I could not find an acceptable discretionary wealth management service elsewhere. I was dismayed by the lack of transparency, the very high fee levels; the often poor performance after charges and generally an inadequate service for what is nevertheless one that is much needed.
After all, how many of us are really interested in, or perhaps capable of, managing our own money? As a result, I decided along with my co-founder, Thomas Salter, that it was time to create the solution ourselves.
With the launch of Netwealth, we deliberately address the most important features that we feel are missing from the private wealth management market, which is under-serving many thousands of professionals, whether they are bankers, accountants, barristers, solicitors, management consultants and multiple others.
Netwealth focuses on the key aspects of investing: the team and the process that guide the investments, security of the assets, the costs associated with
the service and the technology and transparency underpinning it. We believe that by concentrating on these elements, our clients have the best chance of achieving their goals. The entire experience can be accessed online via powerful financial technology or, for those who prefer, with one of our financial advisers.
‘I have been very impressed by the Netwealth service. It gives me greater transparency and at considerably lower fees than traditional providers, as well as the comfort of knowing that my SIPP funds are being professionally managed, with access to advisers
if I need it. I also like the way I can get up-to-date valuations of my portfolio on the website and bring together our ISAs and other family savings under one umbrella.’
Justin Rushbrooke, QC.
Seasoned Leadership Team: together we bring a very significant level of maturity and know-how to discretionary wealth management.
Cost Effective: Netwealth makes use of the latest technology allowing the total fee charge to be a fraction of the industry average.
Comprehensive Offering: Powerful investment tools help you to plan for a variety of financial goals, including regular income, significant outgoings and pension drawdown. Investments can also be set up with the full suite of pension/SIPP, ISA and JISA wrappers in addition to general investment accounts, with the ability to automate future tax efficient investing.
Professional Advice: Our qualified investment advisers can provide you with advice on how best to invest should you wish to speak with them.
Network Benefits: The Netwealth Network allows clients to share the benefits of the service with their family and friends, with fee rates based on the combined amounts invested within the Network.
Security: Security is a critical part of the Netwealth service. All client assets are separately held in custody and ring fenced, and clients access their data via a dual factor authentication process.
Netwealth’s online investment experience
Netwealth clients can access portfolio projections and scenario data to understand potential investment outcomes, helping them to adjust their investment preferences accordingly.
Impact of management fees, Netwealth vs. industry average
click on images to enlarge
Taking a £500,000 investment in our risk level 4 portfolio, we compare the values over 20 years based on Netwealth fees and the average fee for traditional wealth managers of 1.82%, which is calculated as the average total expense ratio (TER) of the wealth managers listed in research by Numis and Citywire done in February 2015.
If you would like to join the many professionals who are now part of Netwealth or would like to find out more, please contact us on 020 3795 4747 or via Netwealth.com.
Netwealth is authorised and regulated by the Financial Conduct Authority.
Remember that when investing the value or your investments may go down as well as up and that your capital is at risk.
Charlotte Ransom, CEO of Netwealth, former Goldman Sachs Partner