Jupiter vice-chairman Edward Bonham Carter is among the angel investors who have raised just over £6.5m to support the launch of a new online discretionary wealth manager targeting professionals. Netwealth, which launches today, has been founded by Charlotte Ransom, a former Goldman Sachs partner, and Thomas Salter, a former managing director of JP Morgan. Its management team also includes Boris...
A new robo - adviser launched in the UK in May , targeting professionals who are “ underinvested or unhappily invested . ” Netwealth was founded by former Goldman Sachs wealth boss , Charlotte Ransom , and ex - JP Morgan MD , Thomas Salter , with a senior investment team which includes ; chief economic strategist , Gerard Lyons , and former senior execs from JP ##fair , Julius Baer , Schroders , and UBS Asset Management . Similar to Nutmeg and Moneyfarm the start - up uses tracker funds and ETFs to provide investors with a portfolio of investments to match investment profiles determined by algorithms , but targeting a more specific market segment , with £ 50k minimum investment . Designed to promote cross - generational savings , Netwealth also enables family and friend networks to invest in separate portfolios but benefit from paying fees calculated on the overall investment of the group , with the all - in yearly fee falling from 0.65 % to 0.35 % for investments over £ ##500 . The company has attracted £ 6.5 m from angel investors including Jupiter Fund Management 's Edward Bonham - Carter , Betfair co - founder Edward Wray , Harvey McGrath ( former chair of Man Group and Prudential ) , co - founder of Leonteq , Michael Hartweg , and Merryn Somerset Webb ( editor - in - chief at MoneyWeek ) .