Barclays has today announced the launch of a new online direct investing service that puts people in control of their financial decisions and helps them achieve their goals. The service will enable Barclays’ customers to see their investments, savings and current accounts through a single log-in.
The new service has been specifically designed to help people from all investing backgrounds choose and manage their investments easily, from those who are new to investing to those with more experience. It gives customers the opportunity to create a personalised financial plan based around their life goals, and work towards achieving these with the support of a range of tools and content.
The service aims to help people feel more confident about managing their savings and investments. It has an intuitive design and a clear, simple pricing structure. Independent research shows that for many it will be amongst the lowest-cost online investment services available.
The service will be made available to Barclays’ customers initially, with non-Barclays customers able to open an account in 2017.
There is no minimum investment amount so the service will be available to anyone. However, guidance and an “are you ready to invest?” tool are provided to ensure customers consider whether investing is right for them before they commit any money.
The service has been developed drawing upon customer feedback and expertise from across Barclays. It combines the bank’s commitment to digital innovation, with more than 30 years’ experience of providing customers with investing services through Barclays Stockbrokers – one of the UK’s leading execution-only stockbrokers.
Clare Francis, Savings and Investments Director at Barclays, said: “Factors such as longer life expectancy, spiraling house prices and high university costs mean it’s more important than ever for people to plan for their future financial security – yet we know many are not saving enough to meet these goals.
“There are a number of reasons for this, including a lack of awareness and understanding about financial products and feeling that investing in the stock market is complicated and risky. The new service has been designed as an easy-to-use service to help break down some of these barriers and give people the confidence to make smarter financial decisions, to achieve their financial goals.”
Considerations when starting to invest:
- Check you’re only spending what you can afford and saving where you can – pay off expensive debts before starting to save
- It’s important to build your cash savings to cover unexpected events before considering investing
- Avoid borrowing or using credit to fund your investments
- Consider your financial goals and how best to meet them – think about the level of risk you are comfortable with
- Do your homework – look into different types of savings and investments before deciding which is best to help you achieve your financial goals
- The nature of investing is such that the value of your investments may go up and down over time. Therefore, investing is only suitable for longer-term goals