Nationwide launches investment advice for small savers

clock

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.

It already offers similar advice to those who want to invest a one-off lump sum, according to the Daily Mail. Investors can choose from 19 funds offered through Legal & General. However, savers must be prepared to pay an upfront fee for advice given in the branch. This is 3 % of the amount you plan to put aside each month for the next 48 months. So if you were going to put aside £100 a month, you would pay £144 initially to Nationwide. There is also a 0.5 % fee for investors who sign up for ongoing advice with the bank. On top of this, customers pay charges for each of the funds. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

RLAM implements Sustainability Focus label across £11bn portfolio range

RLAM implements Sustainability Focus label across £11bn portfolio range

Across a mix of funds and trusts

Cristian Angeloni
clock 23 April 2025 • 1 min read
Advisers notice growing client demand for bespoke investments

Advisers notice growing client demand for bespoke investments

Want access to ETFs, investment trusts, equities, bonds and AIM shares

Isabel Baxter
clock 17 April 2025 • 2 min read
FCA outlines final CCI ruling timeline as it brings out second consultation

FCA outlines final CCI ruling timeline as it brings out second consultation

'Detailed engagement' to continue

Eve Maddock-Jones
clock 16 April 2025 • 3 min read