Old Mutual Wealth has rolled out a service that allows individual investors to transfer money into their investment accounts online without needing to go through their adviser.
The service will only be available to the individual investor if the adviser chooses to allow it.
The new service, dubbed ‘B2B2C’, allows investors to transfer money directly into their Isa or collective investment account.
The money will then be invested in accordance with the client’s portfolio allocation, which will have previously been agreed between the client and their adviser.
Old Mutual said it was rolling out the initiative following a successful trial on some accounts during the 2014 Isa season.
The firm cited a study from the Platforum in July 2014 that found 43 per cent of consumers wanted to use “a combination of advice and self-service”, which had risen from 28 per cent in 2012.
