Many professionals struggle to find time for all the things they would like to do. Work and family schedules tend to leave little room for anything else. While financial planning is something most think about occasionally, the opportunity to sit down, map out and implement a proper investing strategy is too cumbersome for most. The result is that few professionals genuinely optimise their financial position, missing out on potential gains that could provide even greater financial security for them and their loved ones.
It is to help professionals tackle this issue that MeDirect, in partnership with BlackRock, the world’s largest fund manager, has launched MeManaged. This is the first Discretionary Portfolio Management service launched in Malta which is available entirely online and is easily accessible with a minimum investment of just €100.
For those who may be unfamiliar with what a Discretionary Portfolio Management service is, it is a service which is normally reserved for high-net-worth individuals and only accessible through a personal relationship with a portfolio manager. In simple terms, the service allows the investor to create an actively managed portfolio where the day-to-day decisions are handed over to their portfolio manager. This means that once the investor has established clear financial goals and an investment strategy, the portfolio manager does all the work. As a result, the investor is free to go back to focusing on what they do best.
MeDirect’s MeManaged product has transformed this service to make it easily accessible for everyone through its online banking and mobile application platforms. This ease of access complements MeDirect’s client onboarding process which can also be completed entirely online. The initial strategy is established through an online questionnaire which takes a few minutes to complete and establishes the investor’s financial goals and risk appetite. Investors are then assigned an investment strategy which is actively pursued by MeDirect’s team of experts, in partnership with BlackRock. Investors receive a monthly report on the progress of their investment and can revise their strategy, should circumstances or goals change, by retaking the questionnaire.
In bringing this innovation to Malta, MeDirect is also being very transparent about any ongoing fees associated with MeManaged. The fact is that, apart from the ongoing fee relating to the costs of running the fund, the only charge applied is an annual management fee of 1.2 per cent of the market value of the portfolio (inclusive of VAT). This is something which is not always the case, especially in those investment products where charges are applied based on the number of transactions rather than on performance. Customers also need to keep in mind the efficiencies organisations like BlackRock can achieve through advanced market trading technology.
MeManaged also provides flexibility when it comes to additional investments, on top of the initial minimum of €100 required. Investors have the opportunity to add a lump sum to their portfolio whenever they want to. On the other hand, should investors wish to top up their MeManaged account on a regular basis, they can do so with just €100 per month, or more should they want to. Consequently, customers can continue to build their portfolio and benefit from cost-averaging meaning that they are buying investment assets at regular intervals, and at different prices, thus providing some protection from market volatility.
Investors are also free to make withdrawals from their account, providing the minimum balance of €100 is maintained. Withdrawals do not attract any fees and hence give investors more flexibility in managing their money.
MeManaged is, therefore, an ideal solution for busy professionals who want to invest their hard-earned money efficiently but have neither the time nor the expertise to do so themselves or through a complicated process. With just €100, you can now have your own actively managed investment portfolio, accessible entirely online. For more information visit https://www.medirect.com.mt/invest/discretionary-portfolio-management/.
MeDirect Bank Malta is the Island’s first Digital Bank and offers its clients access to market-leading financial products. One can become a client of MeDirect and open a MeManaged account by visiting https://onboarding.medirect.com.mt/start. For further information clients may contact MeDirect Bank on 25574400 or visit www.medirect.com.mt.
MeDirect Bank (Malta) plc, is licensed to undertake the business of banking in terms of the Banking Act (Cap.371) and investment services under the Investment Services Act (Cap.370).
