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Wealth Club launches managed portfolio service

Managed by head of research, Jonathan Moyes

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Wealth Club has launched the Wealth Club Portfolio Service, an online portfolio management service for high net worth and sophisticated investors.

The service consists of five multi-asset portfolios across the usual risk levels, managed by head of research Jonathan Moyes and his team. Moyes previously co-managed £400m of discretionary portfolios at Whitechurch Securities.

Investments will be made across a range of asset classes including bonds, equities, property, infrastructure and private equity. The portfolios will contains a blend of passives, actively managed funds and investment trusts.

There will be 35-50% invested in each of passive and active funds, and 10-20% in investment trusts. The minimum investment across all portfolios is £100,000. ISA and SIPP wrappers can be used.

The average ongoing cost for the new offering, including management, platform and ongoing fund charges, is 1.08%. Wealth Club said this will mean lower costs than going through an adviser, and a similar amount to managing a typical fund portfolio on a DIY platform.

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Alex Davies, founder and CEO, said: “The Wealth Club Portfolio Service has been a number of years in the making. The idea was born out of personal experience. I have been investing since my teens and built a significant portfolio of funds and shares in ISAs, pensions and just on their own.

“While many of these made sense at the time, the result is a mish mash of different funds and shares. I wasn’t quite sure if they fitted together any more, and managing them myself was getting very cumbersome.

“And I know I’m not alone,” he added. “Many friends and clients tell us the same thing regularly. The truth is that, despite the proliferation of innovative digital investment services, the wealthier, more sophisticated part of the market remains underserved.”

Moyes added: “Each portfolio will invest across low-cost index funds, specialist actively managed funds and investment trusts. Investors can typically expect each portfolio to be invested across 30-45 funds.

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“Combining this investment approach with an online service means we can offer our clients a sensible well diversified investment portfolio. And, because the service is delivered online, at a low cost.

“We are particularly pleased to champion the use of investment trusts within our portfolios. The investment trust sector includes some real gems and allows us to boost diversification, providing access to less liquid assets such as infrastructure and private equity.”

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