It focuses on the key aspects on investing; the team and process, security of the assets, costs associated with the service and the technology and transparency underpinning it

The online firm is claiming to cut charges, starting at an all-in annual fee of 0.65% from £50,000 down to 0.35% for £500,000 and above.

The fee rate will be determined by the aggregate value of the contributions you have made into your account less any withdrawals. If you are the lead investor or member of a network then the total invested amount will be calculated based on the aggregate value of contributions less withdrawals for all clients in the network.

All fees include investment management, third party execution charges, tax reporting, VAT, transaction fees and regular performance and reporting.

Part of the offering is Netwealth Network which allows clients to invite family members or friends into their network, which broadens access. Individuals have their own portfolios with the network, fees are calculated on the total investment amount, driving economies of scale. Due to this feature cross-generational savings are promoted.

The company has a record angel investment of over £6.5m by top industry veterans. These include: Edward Bonham Carter (vice-chairman Jupiter Fund Management plc), Michael Hartweg (co-founder Leonteq), Harvey McGrath (former chairman of Man Group and Prudential plc), Merryn Somerset Webb (editor-in-chief MoneyWeek) and Edward Wray (co-founder Betfair).

Netwealth has appointed Gerard Lyons, former chief economic adviser to Boris Johnson, as chief economic strategist. Alongside Lyons the management teams includes former senior executives from JP Morgan, Julias Baer, Schroders and UBS Asset Management.

Netwealth is regulated by the financial conduct authority (FCA). 

Charlotte Ransom commented, saying ‘A significant number of professionals in Britain are either underinvested or unhappily invested, they do not have the time, nor sometimes the inclination, to invest for themselves yet have not found a suitable discretionary offering for their needs.

‘Whilst critical aspects such as a highly qualified team, investment rigour and security of their assets are all vital, they also want to benefit from all that technology can bring, including performance analytics, customisation of their individual investment goals, and transparency when it comes to the true costs of the service. Netwealth addresses all of these important aspects’.