What we say
The service is hybrid from day one; there is an adviser assigned to each client and either face-to-face or Zoom meetings can be booked, so the process benefits from direct access to human support should you require it. Netwealth is agnostic about how people interact with them – they can take a more digital route or a human approach depending on your preference. You can begin with investment management and dip into the traditional financial advice offering as and when you need it.
If your financial situation is fairly straightforward, you are comfortable online and like a low-touch approach, for a fee between 0.70% and 1.00% per year depending on portfolio sizes, they will look after your investments and make day-to-day decisions on your behalf. For their socially responsible investment portfolios, higher fund charges and trading costs will add approximately 0.20% to your yearly fee.
If, however, you are a little older or your circumstances are more complex, they offer a fuller advice service and help with issues ranging from cashflow modelling through to advising on effective tax planning, how to maximise your pension contributions without hitting your lifetime allowance and can even support with more complex areas such as trusts. Expect to pay £200 per hour for one-off advice from a qualified Netwealth adviser, while ongoing advice is provided at 0.35% per year on the value of your account, with a £1,000 minimum per year.
There are seven different risk profiles, each with a USD, GBP and EUR option to choose from, and rather than a risk questionnaire, their modelling tools help you assess your appetite for risk. You can speak to a qualified adviser at no cost at any time to discuss your situation and the suitability of a certain risk level.
There are a number of very useful online modelling tools where you can assess your financial situation based on your goals/targets or you can use this as a basis for further conversation with your adviser.
Fees are tiered depending on the size of your overall portfolio. They start at 1.00% all-in for £50,000 to £249,999 and reduce in tiers from 0.85% for £250,000-£999,999 to 0.70% for investments over £1,000,000. They do not charge initial fees or pension transfer fees. For Socially Responsible Investment (SRI) portfolios, higher fund charges and trading costs will add roughly 0.20% to your yearly fee.
Netwealth also has a group offering which allows clients to invite up to seven family members or friends to their Network, enabling everyone to benefit from a lower combined fee based on the total amount invested across the Network, while maintaining financial independence across their individual portfolios. When you are part of a Network, the minimum investment amount drops significantly to £5,000.
Netwealth host a number of events for their customers from educational webinars led by their qualified advisory team to investment-focussed sessions.
It is a sophisticated offering, and whilst they do have an app, the desktop presents a better user experience.
Fees and charges
Portfolio Size | Percentage Fee |
>£50,000 | N/A (portfolio too small to qualify) |
£50,000 - £249,999 | 1% |
£250,000 - £999,999 | 0.85% |
£1,000,000+ | 0.70% |
Examples:
£10,000 portfolio: N/A (must be over £50,000 to qualify)
£100,000 portfolio: £1,000
£250,000 portfolio: £2,125
£500,000 portfolio: £4,250
£1m portfolio: £7,000
Customer case study
We are very aware of the difference lower costs can make in overall financial returns. However, we were keen to ensure that we would also have access to more traditional aspects of wealth management such as formal financial advice and more complex structures such as Trusts. Our decision to move to Netwealth is benefiting not just us, but also our children, with no compromise on excellence.
Customer reviews
19 October 2021
A really easy to navigate website, excellent service combined with first class financial analysis and informative articles.
Helen
14 September 2021
An excellent, professional and supportive team. The website is very clear and user-friendly. Regular updates about investments are provided and help is on hand if required. I have been hugely impressed with the service provided.
Ina
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