Mr Salter said the company endeavours to partner with other adviser firms, adding: “We want to be a DFM on their panel and in return provide them with some of the investment planning tools that would enhance their client relationship.”
The wealth manager, which was formed in 2015 by ex-Goldman Sachs partner Charlotte Ransom and Mr Salter but launched in May, targets professionals and those who are well-versed in investments but are restricted by their employment contract from managing personal portfolios.
It offers seven model portfolios, which utilise digital investment tools to help investors plan for a variety of financial goals, such as retirement.
Mr Salter said: “We are not ‘robo’ at all, from an investment perspective. We use technology, that is an enabler, but we are a financial services business, we are a wealth management business and we have humans doing all of the management in the portfolios – people value the human touch.”
The responsibilities traditionally given to individuals in the role of chief investment officer are divided between Gerard Lyon, previously of Swiss Bank and Standard Chartered, and Iain Barnes, formerly of UBS Asset Management and Schroders, Mr Salter said.
Mr Lyon, who was the chief economic adviser to Conservative MP Boris Johnson during his tenure as London Mayor, is responsible for Netwealth’s macroeconomic outlook and strategy, and is a member of the investment committee.
Meanwhile, Mr Barnes, who managed multi-asset portfolios totalling £2bn in his previous positions at UBS, has been tasked to look at the ‘nitty gritty’ of portfolio construction.
Netwealth aims to make investments a family affair by allowing investors to invite their spouse, children, siblings and friends to their network – with each individual retaining their own portfolio.
Under the service, called Netwealth Network, fees are calculated on the homogenised investment amount in the network.
Mr Salter said: “The service was born out of us wanting to help our own families, and it is a powerful tool to help people cross generationally.
“Investors are able to invite up to seven people into the network and they all get the cumulative benefits, in terms of satisfying the minimum investment requirement, and unlocks the cheapest fee rates to those making small investments.”
Myron Jobson is a features writer at Financial Adviser
Thomas Salter’s career ladder
Founder and chief operating officer
Decura IM LLP