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Brewin Dolphin launches D2C offering

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Brewin Dolphin has launched a D2C offering for customers with up to £200,000 to invest.

BrewinsDirect is available for those with as little as £10,000 and is said to offer an “uncomplicated, low-cost service”. Investors can choose from one of six portfolios, according to their appetite for risk.

Investors are charged a portfolio management fee of 0.7 per cent per year, subject to a minimum of £70. In addition, there is an annual fund charge of 0.16 per cent.

Cash withdrawals are free on rebalancing provided one business day’s notice is given. Outside this, there is a fee of £50 plus VAT.

BrewinsDirect charges £15 per line of stock for transferring out, and £25 plus VAT to close an account.

By comparison, Brewin Dolphin’s advised offering has a 0.75 per cent investment management charge per year for portfolios up to £1m. Its wealth management service costs 2 per cent for initial advice and 1 per cent for ongoing advice.

Platforum head of direct Jeremy Fawcett says: “Wealth managers are stereotypically conservative but they know that the internet is impacting their businesses.

“Brewin Dolphin has a prestigious brand so why not tie this to a robo-adviser style of service? ”

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. It’s a low cost (ish) offering, but is it advice?

  2. Atempting to bypass the hand that feeds them

  3. Hmm, FCA are looking into these ‘advised light’ platforms are they not? How do these take into account individual customer needs when just lumping into generic funds along on the efficient frontier based on risk profiling?

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