The Times and Sunday Times have teamed up with Bestinvest to launch a wealth service.
The new firm, named Times Wealth Management, will open up an execution-only white-labelled service to readers of the national newspapers.
Readers will be offered four services:
* A non-advised online service with access to more than 2,000 funds
* Personal financial advice from a Bestinvest adviser, which involves an annual portfolio review and asset allocation advice
* Model portfolios run on a discretionary basis
* A full wealth planning service, including advice on pensions and inheritance tax, and regular reviews
The charges levied are the same as the main Bestinvest service, with all proceeds split between the papers’ parent company News UK & Ireland and Bestinvest.
Bestinvest chief executive Peter Hall (pictured) said the service aimed to fill the void left by banks exiting advice.
‘With many of the high street banks having withdrawn from the advice market, large numbers of people have been left in need of help with their financial affairs and investments,’ he said.
‘We are therefore delighted to be partnering with The Times and Sunday Times to provide a comprehensive and competitive range of services to suit the needs of readers, whether they choose to manage their own investments or want the help of a trusted and qualified adviser.’