Bestinvest relaunches with aim to 'reinvent online investing'

Will include sophisticated functionality

Bestinvest is to relaunch as a service combining access to a range of low-cost portfolios, DIY investing, free financial coaching, digital tools and offering “affordable advice” at a fixed rate.

As part of the changes Bestinvest has launched a range of low-cost, ready-made "Smart" portfolios, which will have ongoing costs starting at 0.34% per annum for the least risky portfolio and up to 0.37% per anumum for the most risky. There will be five portfolios ranging from Cautious to Maximum Growth. The current composition has all the portfolios with 6% in gold and 1.5% in cash, with the remainder mixed between equities, which ranges from 45% to 92.5%, and fixed income, which ranges between 47.5% and 0%.  The relaunch will also see share-trading fees slashed to less than £5, halvi...