Integrated financial planning and accountancy firm PK Group has launched a robo-advice offering, KlikInvest, which offers Sipps, ISAs and general investment accounts.
The service, delivered on the Fundment technology platform, requires a minimum starting investment of £5,000 for a SIPP, £500 for an investment account and £500 for an ISA. There is a monthly minimum investment of £100, and it charges 1.14% ongoing for the first £50,000.
Chief executive Patrick Kennedy told New Model Adviser®: ‘We currently have our own discretionary fund management arm, PK Wealth. The entry level for the service is more than £200,000 for a bespoke service and £50,000 for a model portfolio.
‘But we have a lot of smaller clients in need of advice. The automated service does a lot for those types of clients, many of whom are children or friends of full PK Wealth clients.
‘It’s about longevity,’ he said. ‘Many clients who are young and able to invest small sums of money today are going to be our wealthy clients of tomorrow.’