Wealth manager Netwealth has launched MyNetwealth, a service enabling savers to track the value of their investment holdings in one place and plan for their long-term wealth needs.
The free service will cover a range of funds and investments, regardless of a user’s current financial set-up or provider. It can also be used as a complementary solution alongside existing financial adviser relationships.
It wants to give consumers a “clear view of their finances”, letting them track and assess their financial assets across pensions, Isas, taxable accounts and other investments.
MyNetwealth will offer human guidance or regulated advice – the guidance option will cost £400 ($481, €450) including VAT. Users will have access to a range of functions and content, spanning three areas – a tracking function that can collate all of a user’s investment assets into one online dashboard, a planning function which can be used for financial planning and individual wealth management over time, and a learning hub hosting financial guidance and insights tailored to individual needs.
Charlotte Ransom, chief executive and founder of Netwealth, said: “Almost everyone I meet has put together some form of personal list or spreadsheet to understand their wealth in aggregate. Some are better than others, but they always tend to lack two key aspects: the ability to track the value of assets over time and the sophistication to project the wealth forward and relate it to what they want to achieve in the future.
“We have created a solution that addresses the leading issues that often prevent confident financial management and successful forward planning. The dual benefits of the service’s easy-to-use technology and access to human expertise when needed enables users to make informed decisions about their financial futures, as well as being fully prepared for important milestones such as retirement and inheritance planning.”