Free website YourWealth.co.uk has launched an execution-only platform which has access to over 1,500 funds and has a minimum monthly investment of £100 in regular contributions.
Fund Platform, a whole of market offering delivered in partnership with the Investor Direct Platform and powered by Investment Funds Direct Ltd, enables users to compare, invest and manage their funds.
It allows investors to manage all their investment funds, stocks and shares Isas and self invested personal pensions and allows access to investment funds as well as exchange traded funds and FTSE listed shares on a non-advised basis.
YourWealth.co.uk said the platform allows people to “tailor their investments to meet their personal risk profile and financial objectives”.
To make navigation of funds as simple as possible YourWealth.co.uk has categorised the funds available through the platform according to their investment targets, for example those targeting capital growth or aiming to generate an income.
The main three components to the YourWealth.co.uk fund platform charges include annual management charges, Investment Funds Direct Limited platform administration charges and a £4 distributor fee.
The minimum investment is a £1,000 lump sum or people can make regular monthly contributions of £100, and there is no initial investment charge.
Toby Hughes, founding director of YourWealth.co.uk, said: “Using the YourWealth.co.uk Fund Platform allows people to hold all investments in one place, giving them the ability to see everything at a glance. The single point of access means people not only save on fund charges but also reduce the amount of paperwork needed.
“With changes, at the end of 2012, to the way financial advisers charge for advice one likely consequence was the emergence in the market of an advice gap, with fewer people taking professional advice, looking at alternative ways to manage their own finances and investments.
“The launch of the YourWealth.co.uk Fund Platform addresses this by offering people the autonomy and flexibility to invest and manage their money as they feel is appropriate for them.”