"Whether you have £1 or £1 million spare it’s just as important to get a second opinion from a qualified professional and have access to quality investments,"
evestor is backed by Duncan Cameron, co-founder of MoneySuperMarket.com, and Anthony Morrow, founding shareholder of financial advisory group Paradigm.
Charges will currently range from 0.44% to 0.48% per annum depending on the portfolio but the total cost - or ‘all-in’ fee - will not exceed 0.5% per annum and there will be no initial fees. Of the total cost, 0.35% will go to evestor for advice, portfolio management, custody and administration of the underlying portfolios.
evestor says its site will give customers access to some of the biggest funds in the world, including Vanguard, Fidelity and Blackrock.
Following today’s transactional website launch, evestor also plans to roll out a money management app and a retirement planning service.
Anthony Morrow, chief executive of evestor, said: “We want to open up investment to everyone by delivering smart advice at a fair price. In the past financial advice was the preserve of the wealthy few but whether you have £1 or £1 million spare it’s just as important to get a second opinion from a qualified professional and have access to quality investments, if you need it.
"Our service covers those people who are totally comfortable engaging through a digital channel but also those who would still appreciate the comfort of hearing from a professional that they are doing the right thing.
“Whether you’re young or old, rich or poor, investing shouldn’t be a bewildering or expensive experience. High annual fees, charges and commissions eat into your wealth so we’ve kept them to an absolute minimum. We’re totally transparent, there are none of the hidden extras you often get when paying for traditional advice.
“Digital technology allows us to reach our target audience more precisely and cost-effectively than before, ultimately enabling us to provide a one-stop finance, savings and investment service that suits their needs by making important personal finance decisions simpler.”
Duncan Cameron, co-founder of evestor, added: “Of all the attractive business opportunities I’ve come across in the past decade, evestor really is the one that excites me the most. It has the potential to revolutionise savings and investment advice for the benefit of everyone.”
