Financial comparison company MoneySuperMarket has entered into the platform market with the launch of ‘Investments by MoneySuperMarket’.
The platform allows customers to open an account, choose stocks and shares ISA/General ISA and manage their portfolios with zero trading fees and a 0.34% annual platform fee. Savers will be able to start investing with as little as £1.
It is built on infrastructure from Seccl, the Octopus Group technology provider authorised by the FCA.
At launch, customers can choose from a “curated” range of 40 funds and ETF’s, including multi-asset funds such as the Vanguard LifeStrategy range and individual strategies such as S&P 500 tracker funds.
Benjamin Summers, head of Vanguard UK, said they were “delighted” to be the multi-asset provider for the new platform.
“With a shared focus on helping people achieve better financial outcomes, it’s a natural fit,” Summers said.
The launch is part of the firm’s attempt to become a full-service financial comparison company to help savers manage their finances.
Lis Barton, chief customer officer at MoneySuperMarket, said: “For many people, investing still feels complicated, expensive and out of reach.” According to recent research by the firm, around 70% of UK adults currently do not invest.
“We’ve built Investments by MoneySuperMarket to change that, making it simple, affordable and easy to get started, whether you’re investing for the first time, or looking to get more from the investments you already have.”
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