Barclays launches online investment service

Added 28th November 2016

British bank Barclays has launched an online investment service in an effort to help plug the savings and advice gap.

Barclays launches online investment service

Initially only available to Barclays’ customers, the service will offer those with an online banking account access to their investments, savings and current accounts through a single log-in.

However, next year the bank hopes to launch a standalone version of the Smart Investor portal for non-Barclays customers. This would not have the integration features available to Barclays clients.

The service has no minimum investment amount, but Barclays said, guidance and an “are you ready to invest” tool are provided “to ensure customers consider whether investing is right for them before they commit any money”.

According to the firm, the new offering is fully aligned with its longer term strategy and has been specifically designed to “help people from all investing backgrounds”.

Clare Francis, savings and investments director at Barclays, said that, while factors such as longer life expectancy and spiralling house prices are well known, many are still not saving enough to meet these goals.

“There are a number of reasons for this, including a lack of awareness and understanding about financial products and feeling that investing in the stock market is complicated and risky,” she said, “The new service has been designed as an easy-to-use service to help break down some of these barriers and give people the confidence to make smarter financial decisions, to achieve their financial goals.”

The fees charged by the service can be seen below.

 

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Geoff Candy

Group digital editor

Geoff Candy joined Portfolio Adviser as News Editor in May 2014. He has been a financial journalist and broadcaster since 2005 and, in that time has worked in both South Africa and the Netherlands, covering everything from high street retailers and construction companies to mining and insurance.

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