The Times is launching a 'wealth management' service, it was announced today.
The new service has Times branding, but is run by Best Invest.
News UK chief executive Mike Darcey has signalled his intention to make Times Newspapers profitable, last week he said: "Mr Murdoch has been very clear – my job is to run a profitable business; being a drain on the other successful parts of News Corp is not an option for me."
Here is the press statement:
This week The Times and Sunday Times launches a new wealth management service – offering readers the opportunity to invest in a range of products such as ISAs, SIPPs, funds and Investment Trusts, together with access to expert advice and all at competitive rates.
Times Wealth Management offers a clear, trustworthy and personalised service whether readers are planning for retirement, looking to save for university fees, build a nest egg as first time investors or if they are existing investors who are seeking to improve the way their portfolio is managed.
The service types on offer are fourfold: Transaction only: a non-advised on-line service providing access to more than 2,000 investments supported with market-leading planning tools and research; Advisory: the investor receives personalised advice from a named adviser; Fully-managed: The investor has their portfolio managed for them; Wealth planning: a highly personalised service where a qualified financial planning expert advises them on issues such as pensions and inheritance tax.
The Times and the Sunday Times are working in partnership with leading private client investment firm Bestinvest to deliver this new service which is open to everyone, from today, at www.timeswealthmanagement.co.uk
Neil Martin, Business Development Director at News UK, said: “The launch of Times Wealth Management Services is an exciting milestone for The Times and Sunday Times. When it comes to money, trust is crucial and The Times and Sunday Times have been the papers of record for the latest money, investment and business news and advice for more than two hundred years, thus the titles are well placed to offer a competitive service that our readers are hugely interested in.”
Peter Hall, Chief Executive of Bestinvest, said: “With many of the high street banks having withdrawn from the advice market, large numbers of people have been left in need of help with their financial affairs and investments. We are therefore delighted to be partnering with The Times and Sunday Times to provide a comprehensive and competitive ange of services to suit the needs of readers, whether they choose to manage their own investments or want the help of a trusted and qualified adviser.”