You are here: Home - Investing -

New online investment platform launches

Written by:
A new online investment platform, Strawberry Invest, has launched today, promising customers a "lower cost and more straightforward" solution to its rivals.

The Do-It-Yourself broker will charge an annual platform fee of 0.40% on the first £50,000.

It will then charge 0.35% to portfolios valued at between £50,001 and £250,000, and  0.20% to portfolios between £250,001 and £1m.

An annual platform charge of 0.10% applies to portfolios valued at more than £1m.

Share trades cost £12.50 and fund trades are free.

Strawberry Invest managing director James Priday said: “With the right information, accessible online technology, and a more interactive form of saving, i.e. investing, people will put more money away for their future. The key is to make saving both simple and interesting.

“We are certainly not advocating dispensing with the services of a financial adviser, especially those with fairly complex financial affairs, but believe that people with simpler affairs should have the tools and information to manage their own savings and investments.”

Investments can be held within a general investment account (GIA), Stocks & Shares ISA (ISA) and a self-invested personal pension (SIPP).

An account can be opened with a lump sum of £1,000 or regular contributions of £100 monthly for the first year. Subsequent contributions must be a minimum of £100.

For ETFs, Investment Trusts and share dealing, investors will be charged £12.50 per trade.

Big name platforms Hargreaves Lansdown, Fidelity and Barclays have all revealed new pricing structures for their DIY propositions within recent weeks.

Hargreaves announced it would be introducing a 0.45% annual platform charge for sub-£250k clients on its Vantage service

Fidelity revealed an annual charge of 0.35% for clients with total assets up to £250,000 on its personal investing platform.

Barclays Stockbrokers introduced a 0.35% fee to all clients with up to £500,000 in assets, waiving the fee for users with larger pots.


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Telematics can save young drivers £438 on their car insurance

Young drivers could save an average of £438 on the annual cost of their car insurance by switching to a...