Santander unveils new D2C execution only investment platform

Added 14th June 2016

Santander, one of Britain's largest retail banks, has launched a direct-to-consumer platform for new and existing clients in the UK as part of a wider move to expand its face-to-face advice service.

Santander unveils new D2C execution only investment platform

Known as the Investment Hub, the platform will offer access to Santander Asset Management funds and around 2,000 funds from other providers.

Backed by technology from FNZ, which also powers the Standard Life and Zurich advised platforms, it will have an annual management charge of 0.35%.

Customers will be able to make initial minimum lump sum payments of £100 ($142, €126) per fund, with no maximum amount, as well as for additional payments, said the bank. Meanwhile, regular payments can be set up for as little as £20 per month via direct debit.

The bank confirmed that it will transfer all 250,000 customers with existing investments in funds managed by Santander ISA Managers over to the new platform by the end of the year. Users can also consolidate their investments held with other providers onto the Investment Hub.

Alan Mathewson, wealth management and private banking managing director at Santander, said: “A crucial element of our wealth proposition is to make the investment market more accessible – a key focus of our work following the Financial Advice Market Review.

“Online investing is likely to represent 25% to 30% of the UK retail investments market over the next couple of years. As a scale challenger bank, we want to be at the forefront of this trend as we continue to develop our proposition for customers in a simple, transparent and more affordable way.”

The move marks a return to the investment advice market less than two years after being hit with a £12.4m fine by the FCA for “serious failings” in the way the bank offered financial advice.

New private banking arm

It comes after Monday’s announcement of the launch of Santander’s private bank business in the UK.

The bank said it will launch “bespoke” services to clients who have £500,000 savings or investments with an annual income of £250,000 later this year.

The service comes with a private banker who will provide advice on banking, lending, investment and financial planning products.

It will still accept deposits via intermediaries through its Cater Allen division and a discretionary investment management offering will also be available in due course, said Santander.

“The retail distribution review made it harder to get advice to the masses. With £100,000 or less, it’s hard to gain advice in the market,” said Mathewson.

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

Monira Matin

Senior Reporter

Monira joined International Adviser in March 2016 from Informa Global Markets where she worked as a eurobond reporter for over two years, covering fixed income markets. She has previously held a number of editorial positions covering politics, insurance and technology. Monira has a degree in Journalism and Economics from City University.


The turning tide of global equities

The turning tide of global equities

Despite a gloomy beginning to the year, global equities have started to outshine the backdrop of economic malaise that threatened their upward trajectory, with the index delivering 19.2%


Ashburton International
Ashburton International

Ashburton Investments is a new generation investment...



Offshore Bond Workshop Glasgow 2016
Offshore Bond Workshop Glasgow 2016

22nd November 2016
The Grand Central Hotel, Glasgow

Future Advisory Forum Dubai 2016
Future Advisory Forum Dubai 2016

23rd November 2016
Shangri-La Hotel, Dubai 

Sponsored Content

Investment Strategy