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Nationwide launches investment advice for small savers
Britain’s biggest building society Nationwide has launched an investment service aimed at customers who want to put aside sums as low as £20 a month.
Investors can make regular payments into a portfolio of 19 funds offered through Legal & General.
Customers can make either lump sum investments, regular payments or a combination of both.
As with all of Nationwide’s investment products, there will be a 3% initial fee followed by a 0.5% ongoing service charge.
Investors will also have to pay an upfront fee for advice given in branch. This is 3 % of the amount they plan to put aside each month for the next 48 months
Rob Angus, head of protection and investments, said: “We want to build strong relationships with our customers and help them achieve their long-term goals, offering them easily accessible advice and a choice of options to suit their needs.
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“While other high street providers are moving away from mass market advice or setting high minimum amounts before they start offering advice, Nationwide is committed to helping customers who want to broaden their options.”