Barclays is overhauling its stockbroking arm with the launch of a direct-to-consumer platform which will combine savings, current accounts and investments.
The Financial Times reports existing Barclays Stockbrokers customers will be transferred to the new service, Barclays Direct Investing next year. It will also be open to customers of other banks.
The platform will include tools to help people learn about investing, set long-term financial goals and buy and sell investments.
It will offer a core list of 50 funds which have achieved a certain level of perfomance, akin to Hargreaves Lansdown’s Wealth 150 buy list.
Barclays Direct Investing managing director Rupert Dickinson says: “You’ll struggle to find any other player in the marketplace that provides a full investment offering fully integrated with banking.
“This is an investment proposition that everyone will be able to access, even non-banking customers.”
Money Marketing reported in January Barclays was planning to launch a platform this year for clients with simple investing needs.