Saxo Bank launches wealth management platform

Saxo Bank has announced the launch of a wealth management platform for retail investors.

The Modern Wealth Management platform launches today in the UK with a view to extend the service in other countries in the near future.

It carries integrated Morningstar tools and data for funds and ETFs as well as a risk profile generator, “Ideator”.

Karsten Henriksen, head of modern wealth management (MWM) for the UK market, says: “This is an important market for us, and we can see from our survey that MWM fits right into the requirements and expectations of today’s investors. (article continues below)

“The wealth management space in the UK is well developed and investors are sophisticated, and MWM meets their needs by providing simple, easy to use tools and offers transparent fees and guidance for those who are just beginning to take their wealth into their own hands.”

The move comes after Saxo Bank recently claimed investors did not understand the fees they were paying for wealth management services.