An online wealth manager which allows investors to invest in managed funds, themed investment baskets and passive investment products has launched in the UK.
The Tiller platform claims that it will provide investors with technology “previously only available to the super-rich and institutional investors”.
Clients will be able to monitor and manage their portfolio via a mobile, tablet or desktop and can model the impact of switching strategy before making a final decision.
The platform is available for private investors and institutional partners including private banks, insurers, asset managers and financial advisers.
The minimum investment has been set at £10,000 (€11,300) and fees range from 0.75% for a core portfolio of ETFs rising to 0.9% on portfolios incorporating actively managed funds and themed investment baskets.
ETF portfolios have an underlying fee of typically 0.25% and active portfolios have an average underlying fee of 0.54%. There are no other additional charges for custody, administration, or for making trades or withdrawals.
The founders of the platform are Ian Cadby, the former chief executive of Ermitage Group (a European alternative fund of funds manager) and Jonathan Wauton, previously the chief investment officer of Ermitage.
Cadby is the chief executive of Tiller and Wauton the chief investment officer. The chief operating officer is Simon Clark, a former chief operating officer of wealth manager Stonehage Fleming.
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