Investment advisory firm Bestinvest is to target “orphaned” investors expected to turn away from fee-driven financial advice with a portfolio analysis tool.
The service named First – Free Investment Report Service & Tool – which will allow any UK private investor to analyse their investment portfolio free of charge and without a requirement to appoint Bestinvest as agent.
First will be available to investors online or through the post and will be supported by a telephone-based team. Investors will be able to enter details of their investments and receive real-time analysis on them. The analysis will take into account asset allocation, exposure to risk, quality of holding and costs.
At launch, the service will cover more than 11,500 investments, including open-ended funds, investment trusts, unit-linked pension funds, investment bonds, exchange-traded fund and individual stocks and shares, including those heald within ISAs and personal pensions.
There will also be educational videos on the site and a guide to investing.
Bestinvest’s managing director for business development and communications Jason Hollands says: “Much has been written about the expewcted explosion in ‘DIY’ investing, but traditional ‘no frills’ excecution-only services, focused primarily on fund selection and reducing transaction costs, do not offer a magic bullet for servicing those investors who are expected to be orphaned from the advice market.
“These investors will need access to educational material, rigorous research and user-friendly guidance tools to help them navigate the investment maze.”