Barclays will bring its banking and investment services together in an overhaul of its 30-year old stockbroking operation to help the bank take on investment advisory rivals such as Hargreaves Lansdown.
Barclays said the new platform, which will be open to all customers to manage savings, current accounts and investments, would be the first combined service of its kind, although similar features have been available to clients of wealth services that typically need a minimum in investable assets.
The bank said existing Barclays Stockbrokers customers would be transferred across to the site — called Barclays Direct Investing — next year, marking the end of three decades of the Stockbrokers brand. It will be open to customers of other banks next year.
Barclays is targeting a broader range of customers through the site compared with its current stockbrokers service, which provides trading and investments to self-directed investors.
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