The service will give more individuals access to wealth management services.

Investec Wealth & Investment has launched a new actively-managed online investment service for individuals with £10,000 ($12,768) or more to invest.

Click & Invest combines the experience of a team of investment managers with the convenience of an online service, the firm said in a statement.

The service will help the firm reach out to individuals who are not usually able to access traditional wealth management services. 

The team will create and actively manage investment portfolios on behalf of clients, based on over 300 actively managed funds chosen using strict criteria. The funds will be assessed and reviewed on a monthly basis.

Investec’s new system will have one annual management fee which is tiered according to the level of investment. Individuals will not be charged for setting up and creating a portfolio, commission, transferring in, withdrawing money or closing an account. There are, as with other services, underlying costs, which are applied by the individual funds.

“Investec Click & Invest is uniquely placed as an, online investment service, which is based on the same principles and expertise offered by Investec Wealth & Investment,” said Jane Warren, chief executive. “The service is simple, intuitive and transparent, offering clients the convenience and ease of an online service, with the knowledge that their money is being actively managed by our team of experts, not algorithms."