Barclays has reduced the costs for Plan & Invest, our digital wealth management service, and removed the VAT charge. This reduces the service charge from 1.14% to 0.95%. The service charge covers three separate costs – planning, investing, and safekeeping.
There has been no change to the product cost, which ranges from 0.25% to 0.45%, depending on the underlying investments. The total cost of Plan & Invest now ranges from 1.19% to 1.39% (down from 1.39% to 1.59%).
Plan & Invest is available to Barclays current account customers who have at least £5,000 to invest.
Clare Francis, Director of Savings and Investments at Barclays, said: “With interest rates low and inflation on the rise, we know lots of people want to get their money working harder. But many are nervous about investing because they don’t know much about it, or don’t feel they have the time to make their own investment decisions.
“This is where Plan & Invest can help, as we do it all for them. Customers just need to complete an online questionnaire where we ask about their reasons for investing, what they’re trying to achieve and how they feel about risk. We’ll then create a personalised Investment Plan based on what they tell us and make all the investment decisions on their behalf.”
BARCLAYS PLAN & INVEST:
Barclays Plan & Invest, our Digital Wealth Manager, allows individuals to leave everything in the hands of our experts, who will create and manage an investment portfolio entirely tailored to the customer and their financial goals.
How does it work?
Customers complete an online questionnaire on their goals/circumstances and what they want to achieve by when along with a personality assessment on how they respond to risk. We then use the latest technology to combine this information with our expert’s pick of investments, to create a personalised Investment Plan that can follow over 10,000 investment paths.
Barclays will adapt the Investment Plan to changes in the market or the customer’s circumstances and check in with them once a year, to make sure that the investments are still right for the customer and that they’re making the most of their tax allowances. Customers can contact us at any time and let us know if their circumstances or goals have changed.
The service is available to Barclays current account customers who have at least £5,000 to invest and can be accessed through Online Banking and on the Barclays app.
- We take the time to get to know you – You tell us your goal and we’ll tell you how to achieve it. Spend 30 minutes telling us about yourself now and you’ll thank yourself later. We’ll work out how much you can afford to invest, how much to keep in savings for a rainy day, and show you what your investments could be worth in the future.
- We treat you as an individual – Because we take the time to get to know you, you can be sure we’re doing what’s best for you when we design your Investment Plan. We won’t pigeonhole you like many other investment providers – we consider over 10,000 investment options when creating your plan to make sure it’s truly tailored to you.
- Real people, not robots, oversee your investments – We’re different because although you access it digitally, Plan & Invest has real people managing your investments behind the scenes. Our experts do use algorithms but they’re also the people who oversee your investments and their performance.
- By your side, for years to come – Our team is only a phone call away and we’re always happy to help. Your plan adapts as your life changes, so at least once a year, we’ll check in with you to see if anything needs updating.
BARCLAYS SMART INVESTOR:
Barclays also offers Smart Investor our DIY investment platform – we provide the tools, helpful insights and research resources, to help customers take control and make their own investment decisions.
Customers can open an investment ISA, general investment account, and/or a SIPP online – trading a wide range of investments and managing their own portfolio alongside their other Barclays finances, both online and through the Barclays app.
- Range of investments – For those wanting to create their own portfolio, we offer thousands of different investment opportunities – including funds, shares, gilts, bonds, ETFs, and investment trusts.
- Ready-made Investments – If you’re not sure where to start, or are short on time, our Ready-made Investments are designed and monitored by our team of investment professionals, and customers can choose from one of our five funds based on the level of risk they feel comfortable with. Each invests in shares, bonds, and cash to help spread risk but are all slightly different. Customers just need to read about the characteristics of each fund and choose the one that is most suitable for them.
- Barclays Funds List – With thousands of different funds available, the Barclays Funds List can help them narrow down the choice. It is made up of funds from each of the investment sectors we believe are key for building a diversified portfolio. As well as including funds from different sectors, our list includes different types of funds – active, trackers, and our own Barclays Multi-Manager funds.
- Research and insights – Customers can also access real-time pricing, in-depth company information, and expert news and views on the latest market movements via our research hub.
- Trade and manage all your money on the go – If customers have a Barclays current account, they can manage their investments alongside their day-to-day spending, and trade on the go with the Barclays app.
- Extra mile on price – Every time you buy or sell UK shares, we’ll give you the best price available from our selected Retail Service Providers (RSPs). With the Barclays Price Improver, 92% of trades placed in 2020 got a better price than the quoted price on the London Stock Exchange, with the average customer return improved by £15 per deal.
- Transparent pricing – We have no hidden charges and a cost calculator so that customers know exactly what they will pay, with no unexpected fees.