Tilney Bestinvest is to offer a one-off advice service in a bid to reach the mass market.
The new service will be available for new and existing clients of the group’s non-advised online investment service.
Investors will be able to use the service regardless of the size of their investable assets and will be guided if they have a lump sum to invest, or an existing portfolio they want to review.
If their financial needs will require ongoing advice they will be redirected to the investment advisory service.
The firm will charge clients of 1 per cent of the value of their assets, with a minimum fee of £500 and a maximum of £5,000.
Tilney Bestinvest Lee Dooley managing director says: “As a firm, Tilney Bestinvest has always stressed the important role professional advice plays in helping our clients to better-understand their options, and make the most of their investments. But we have also recognised that, until now, some investors viewed advice as either out of their reach, or an ongoing commitment to which they could not quite stretch.
“Whether clients have been the recipients of an unexpected windfall, or are just looking to shake up their portfolio, they can now access advice whatever their level of assets may be, and safe in the knowledge that they will only have to pay for the advice they need.”
Earlier in April, Tilney Bestinvest completed the acquisition of Towry for £600m. The combined business will have over £20bn of assets.