Barclays is cracking on with its plan to target the direct-to-consumer market, with the scheduled launch of its Wealth Direct proposition next year.
The new service will be aimed at self-directed ‘buy and hold’ investors and will go live in the UK during the first half of 2015.
While details on the new proposition are scant, the bank said that its execution-only platform, Barclays Stockbrokers, would form the basis of the service.
In September last year, chief executive Peter Horrell said it would incorporate aspects of the bank’s premier and retail services, alongside its financial personality assessment.
‘Investors who want to manage all or part of their portfolios are a growing and significant part of the investor market and Barclays Stockbrokers is an ideal springboard from which to develop this offering,’ a spokesperson for the bank said.