Asset manager Vanguard’s new yet unnamed direct-to-consumer digital proposition will be aimed at self-directed investors. The firm already hosts a similar portal in the US.
The firm does not anticipate going head to head with wealth managers, who it believes look after a different segment of the market.
“The natural evolution is that at the appropriate point in a client’s life they then get financial advice,” said managing director for Vanguard Europe John James.
Patrick Connolly, certified financial planner at Chase de Vere, said: “There has been a lot of ongoing change both in the advice and investment worlds.
“Companies are deciding on what is the best proposition for themselves going forward.
“We will no doubt see more asset managers looking at direct-to-consumer propositions, and advice firms looking at different ways to promote their services.
“However, our position at Chase de Vere is that our product is independent financial advice, so we will not be going down this path.”
