The UK-based discretionary wealth service has all-in annual fees starting at 0.65% from £50,000 down to 0.35% for investments of £500,000 and above.
Netwealth has received backing from a host of well-known names in the asset management sector, including Jupiter Fund Management vice-chairman raising over £6.5m from among others, Edward Bonham Carter, former Man Group and Prudential chairman, Harvey McGrath and MoneyWeek’s editor-in-chief, Merryn Somerset Webb.
Netwealth is the brain child of former Goldman Sachs partner, Charlotte Ransom, and former managing director of JP Morgan, Thomas Salter. Its management team likewise includes a cast of recognisable characters, including Gerard Lyons who will serve as the company’s chief economic strategist.
According to Netwealth co-founder and CEO, Ransom, Netwealth was designed to assist British professionals who are “underinvested or unhappily invested” make the most of modern technology.
“While 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”.
One such technological perk is Netwealth’s family and friends network offered to clients, which the company said is designed to “promote cross-generational savings.” “While individuals each have their own portfolios within the Network, fees are calculated on the total investment amount, driving economies of scale.”
