The free investment, tax planning and pension website, YourWealth.co.uk, has launched a new fund platform in order to help wealthy individuals compare, invest and manage their funds.

The platform is a partnership with the Investor Direct Platform, which is powered by Investment Funds Direct.

As such, the offering allows investors to manage all their investment funds, stocks and shares ISAs and SIPPs via one platform. It provides access to 1500 investment funds, exchange traded funds and FTSE listed shares on a non-advised basis, allowing for tailored investments that meet personal risk profiles and financial objectives.

As a navigational tool, YourWealth.co.uk has categorised the funds available through the platform according to their investment targets, for example those targeting capital growth or aiming to generate an income.

The launch of the site comes after the Retail Distribution Review in 2012 changed the way financial advisors can charge for investment advice. According to Toby Hughes, founding director of YourWealth.co.uk, the RDR created an advice gap for clients.

“With changes, at the end of 2012, to the way financial advisers charge for advice one likely consequence was the emergence in the market of an advice gap, with fewer people taking professional advice, looking at alternative ways to manage their own finances and investments. The launch of the YourWealth.co.uk Fund Platform addresses this by offering people the autonomy and flexibility to invest and manage their money as they feel is appropriate for them,” Hughes added.

Cost-wise, the platform charges an annual fund management charge, an investment funds direct limited platform administration charge (between 10-30 per cent) and a distributor fee of £4 ($6.47) per month.

For users, the minimum investment is a £1,000 lump sum or regular monthly contributions of £100, with no initial investment charge.