United Kingdom · Finance · Lead (8-12 years)

Portfolio Manager

Here is the whole job, in plain words. What it is, what you decide, how you're judged, how people get here and where they go next. Then the part no course gives you: twelve AI tutors who learn your work.

See how AI is changing this job, and get the full read by email.

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As a Portfolio Manager, a good place to start on Prompt Engineering & LLM Integration is Using and Checking AI Tools in Daily Work, a free Future Fluency module at Level 3. You'd practise using everyday AI tools on real tasks from your own week, and checking what they produce before you use it.

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One email: what AI is changing in this job, the new skills it asks for, where it leads, and where to start free. With a link back here. Nothing else follows unless you confirm your address.

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  • Experience bandLead (8-12 years)
  • Direct reportsNo direct reports
  • Reports toHead of Equities (or relevant Asset Class Head)
  • UK framework levelUsually a professional owning their own work, or leading a small team

Also advertised as Fund Manager · Investment Manager · Lead Portfolio Analyst

Built on 43,079 real UK job descriptions we analysed · grounded in what real qualifications cover

1From this job to a course

The qualifications matched to this job

CISI Level 4 Diploma in Investment Advice Chartered Institute for Securities & Investment · Level 4 · covers 2 of 14 standards
iCQ Level 5 Diploma in Management and Leadership iCan Qualifications Limited · Level 5 · covers 1 of 14 standards
TQUK Level 5 Diploma in Management and Leadership (RQF) Training Qualifications UK Ltd · Level 5 · covers 1 of 14 standards
ABBE Level 4 Certificate for Built to Rent and Private Rented Sector Awarding Body for the Built Environment · Level 4 · covers 1 of 14 standards
CISI Level 4 Certificate In Investment Management Chartered Institute for Securities & Investment · Level 4 · covers 1 of 14 standards
City & Guilds Level 4 NVQ Diploma in Management City & Guilds Limited · Level 4 · covers 1 of 14 standards

Matched from the standards this job is measured against: a suggestion, not an official ruling.

The units you would start with

Derivatives CISI Level 4 Diploma in Investment Advice
Product and/or Service Portfolio Management iCQ Level 5 Diploma in Management and Leadership
An introduction to property residential management in the Build to Rent (BTR) and Private Rented Sector (PRS) ABBE Level 4 Certificate for Built to Rent and Private Rented Sector
Investment Management CISI Level 4 Certificate In Investment Management
Analyse competitor activity City & Guilds Level 4 NVQ Diploma in Management

The future skills this job leans on

AI Fluency working with AI as a thinking partner
Data Fluency turning numbers into a decision
AI Governance Fluency using AI responsibly
Systems Fluency seeing the whole picture
Your Plan Illustration

Built for Portfolio Manager

5 units that map to this job, from the qualifications that cover it.

  1. Derivatives Chartered Institute for Securities & Investment · covers 2 of 14 standards Level 4
  2. Product and/or Service Portfolio Management iCan Qualifications Limited · covers 1 of 14 standards Level 5
  3. An introduction to property residential management in the Build to Rent (BTR) and Private Rented Sector (PRS) Awarding Body for the Built Environment · covers 1 of 14 standards Level 4
  4. Investment Management Chartered Institute for Securities & Investment · covers 1 of 14 standards Level 4
  5. Analyse competitor activity City & Guilds Limited · covers 1 of 14 standards Level 4
These are the real units behind this job, in the order they rank for it. Nothing here is marked done, because this plan has not been started by anyone yet. Yours would fill in as you go.

2AI and this work

Will AI change your work as a Portfolio Manager?

Nobody can say exactly how. Here is what this job is being asked for next, and where to start.

The new skills this role is being asked for

  • Prompt Engineering & LLM Integration
  • Advanced Data Visualisation & Storytelling
Why each one is rising

The future skills this job leans on

We'll only ever tell you what we can actually back up. No hype, no scare tactics.

What happens when you start

Next, a free account. We build your Portfolio Manager plan as you set up, starting with the free AI Fluency module. No card.

Your first Future Fluency module is free. After that, your AI tutor is £70 a month.

Keep this read. One email with what AI is changing in this job, the new skills it asks for and where to start free. Nothing else follows unless you confirm your address.

3What this role really is

A portfolio manager makes the buy and sell decisions for a client's investments and is accountable for how that portfolio performs.

4What you'd actually use

The tools this job runs on, and how well you'd need to know each one.

Bloomberg Terminal Advanced

Building custom dashboards for real-time market monitoring, running complex screens (EQS) to identify investment ideas, using portfolio analysis tools (PORT) for risk and performance attribution, and leveraging the API for Excel integration to pull proprietary data.

FactSet / Refinitiv Eikon Advanced

Creating complex, multi-layered screens for idea generation, pulling detailed company filings, performing deep-dive financial analysis, and using portfolio analytics and quantitative tools within the platform for scenario testing.

BlackRock Aladdin / Charles River IMS Expert

Managing the entire lifecycle of a trade from order generation to settlement, modelling the portfolio impact of new positions, running complex pre- and post-trade compliance checks, and generating detailed risk scenarios and performance attribution reports. You'll know this system inside out.

Building and maintaining detailed 3-statement financial models, writing VBA macros to automate repetitive data tasks (e.g., pulling data, formatting reports), and using Power Query to clean and integrate data from multiple, often messy, sources. You'll be the go-to person for complex spreadsheet challenges.

Writing custom scripts for backtesting trading strategies, performing quantitative analysis on large datasets, creating sophisticated data visualisations for internal presentations, and automating data extraction from various APIs. You won't be a full-time quant, but you'll speak their language.

5What you get to decide, and how that grows

Power in a job isn't your title. It's what you're allowed to decide. Here's how it grows as you move up.

The choiceComing in Where you are nowThe step above
Investment Selection (Buy/Sell) Proposes ideas to senior analyst; executes trades under direct supervision. Generates and researches ideas; makes recommendations to Portfolio Manager; executes routine trades independently. Leads research and due diligence; makes strong recommendations to Portfolio Manager, often leading to direct action.
Portfolio Risk Management Identifies basic risk factors; flags potential breaches to supervisor. Monitors portfolio risk metrics; proposes hedging strategies for review. Proactively identifies and quantifies complex risks; recommends and implements risk mitigation strategies with PM input.
Client Communication Prepares data for client reports; answers basic client queries under supervision. Drafts sections of client commentary; participates in client meetings as note-taker or for specific data points. Leads discussions on specific portfolio holdings; presents performance attribution to clients with PM present.
Budget Allocation (Research/Tools) No authority; requests tools via supervisor. Recommends specific research tools or data subscriptions to PM. Proposes and justifies budget for new research tools up to £5K; consults PM for approval.

6How you'll be judged

The scoreboard, and what is not on it. The hard targets, how often each is actually looked at, and the quiet signals that never reach a dashboard.

Relative Performance (Alpha Generation)
How much your portfolio's return exceeds (or falls short of) its designated benchmark, net of fees.
Target · Exceed benchmark by 150-300 basis points (1.5% - 3%) annually, net of fees.

If your benchmark returns 8% and your portfolio returns 10.5% (net), that's 250 bps of alpha. Good stuff.

Risk-Adjusted Return (Sharpe Ratio)
Measures the return earned per unit of risk taken. Higher is better, obviously.
Target · Consistently achieve a Sharpe Ratio > 1.0 over a rolling 3-year period.

A Sharpe Ratio of 1.2 means you're getting 1.2 units of return for every unit of risk. We want efficient returns, not just high returns.

Information Ratio (IR)
Measures your active return (alpha) relative to the tracking error (how much your portfolio deviates from the benchmark). It tells us if your active bets are worth the risk.
Target · Maintain an Information Ratio > 0.5 over a rolling 3-year period.

An IR of 0.6 suggests you're generating significant alpha consistently relative to the risk you're taking away from the benchmark. It shows skill, not just luck.

Contribution to AUM Growth
The portion of our overall Assets Under Management (AUM) growth that can be attributed to your portfolio's performance and client retention.
Target · Contribute to 10-15% annual AUM growth through performance and client satisfaction.

If your portfolio's strong performance leads to £50M in new client inflows, that's a direct contribution to our firm's growth.

Investment Thesis Quality & Conviction
The depth, originality, and logical soundness of your investment ideas, and your ability to articulate and defend them.
  • Regularly presents well-researched, high-conviction ideas to the Investment Committee
  • receives positive feedback on the clarity and rigour of your analysis
  • your ideas are often adopted by other portfolios or discussed internally.
Client Communication & Trust
Your ability to clearly explain portfolio strategy, performance, and market outlook to clients and consultants, building and maintaining their trust.
  • Receives positive feedback from clients and client relations team
  • clients proactively seek your insights
  • maintains strong client retention rates (low redemptions)
  • can gracefully explain periods of underperformance without losing client confidence.
Risk Management Discipline
Your proactive identification, measurement, and mitigation of portfolio risks, ensuring adherence to mandate guidelines and firm-wide risk limits.
  • No breaches of investment guidelines or risk limits
  • proactively flags potential risks to the Investment Committee
  • demonstrates a clear understanding of portfolio factor exposures and tail risks
  • can articulate how you're managing downside scenarios.

7Would you like it

Both sides. What people enjoy, and what grinds them down.

What people enjoy
Generating Alpha

The thrill of finding an undervalued asset or a mispriced opportunity, and then seeing your thesis play out in the portfolio's performance. It's about proving your skill beyond just riding the market.

Spending late nights digging into a company's obscure regulatory filings, finding a key insight, and then seeing that stock contribute 50 bps of alpha to your portfolio over the next quarter.

Intellectual Challenge

The constant puzzle of the markets, synthesising vast amounts of information, debating ideas with smart people, and trying to predict complex outcomes. Every day is a new problem to solve.

Debating the long-term implications of a central bank policy shift with the Investment Committee, and then refining your portfolio's macro overlay based on the discussion.

Impact on Client Wealth

Knowing that your decisions directly affect people's pensions, savings, and financial futures. This brings a deep sense of responsibility and purpose to your work.

Receiving positive feedback from a client relations manager about how your portfolio's strong, consistent returns are helping a pension fund meet its long-term liabilities.

What frustrates people
  • Irrational redemptions: Clients pulling their money out at the bottom of a market cycle, forcing you to sell assets at the worst possible time and locking in their losses. It's infuriating.
  • Information overload: You'll drown in a sea of sell-side research, news alerts, expert calls, and market data. It's a daily battle to separate signal from noise, and frankly, it's exhausting.
  • The weight of responsibility: There's an immense and often lonely psychological burden that comes with managing millions (or billions) of pounds of other people's life savings, pensions, and endowments. It's not something you can just switch off at 5 pm.
  • Explaining underperformance: Having to justify why your strategy isn't working this quarter to investment committees or clients who may not appreciate the long-term thesis or the market's short-term irrationality.
  • Battling your own biases: The constant, humbling internal fight against confirmation bias, loss aversion, and the temptation to chase hot trends. You'll make mistakes, and you'll have to own them.
What this role does not give you
  • A predictable 9-to-5 routine. Markets don't sleep, and neither will your mind.
  • Guaranteed success. You'll have losing periods, and you'll need to learn from them.
  • A quiet, solitary job. You'll be constantly interacting, debating, and explaining.
  • The ability to please everyone. You'll make tough calls that some people won't like.

8Who you work with

This role directly impacts our firm's reputation, profitability, and ability to attract and retain client capital. Your portfolio's performance is a direct reflection of our investment acumen and a key driver of our overall business success. Get it right, and we all win; get it wrong, and it hurts.

Inside the business
  • Investment Committee (for strategy approval and review)
  • Risk Management Team (for portfolio monitoring and compliance)
  • Sales & Client Relations (for client communication and new business)
  • Trading Desk (for execution of orders)
  • Operations Team (for settlement and reporting)
Outside the business
  • Clients (pension funds, endowments, high-net-worth individuals)
  • Investment Consultants (who advise our clients)
  • Brokers and Sell-Side Analysts (for market colour and research)
  • Regulators (FCA, PRA, etc.)

9What you need before you start

Not a wish list. The things you would be expected to already have.

  • A minimum of 8 years of progressive experience in investment research, equity analysis, or fixed income analysis, with a clear track record of generating actionable investment ideas.
  • Demonstrable experience managing a portion of a portfolio or a 'paper' portfolio with a strong simulated track record.
  • Expert-level proficiency in financial modelling and valuation techniques; you should be able to build a complex model from scratch in your sleep.
  • Proven ability to articulate and defend investment theses to senior stakeholders or clients.
  • A deep understanding of capital markets, macroeconomic drivers, and quantitative risk management principles.

10What to practise next

Where the job is going, and what to do about it starting this week.

Quantitative Model Interpretation & Validation

As more sophisticated quantitative models (including machine learning models) are used for everything from factor analysis to alpha signal generation, your role shifts from building them to critically interpreting their outputs, understanding their limitations, and validating their assumptions. You need to be able to challenge the quants, not just accept their results.

Model Risk & Governance · Explainable AI (XAI) · Backtesting & Stress Testing Methodologies · Data Leakage & Overfitting

  • This week: Review the documentation for one of our internal quant models. Can you explain its core assumptions and limitations to a non-technical person?
  • This month: Attend a workshop or online course on model validation or XAI. Focus on practical application, not just theory.
  • Month 2: Work closely with our quant team on a specific project, actively questioning model outputs and suggesting alternative interpretations.
  • Month 3: Lead a discussion within the Investment Committee on the appropriate use and limitations of a new quantitative tool.

Quick win: Start asking 'why' more often when presented with quantitative results. Challenge the underlying assumptions. This critical mindset is the first step.

Alternative Data Sourcing & Integration

Traditional financial data is increasingly commoditised. The edge now comes from finding and effectively using alternative data sources—think satellite imagery for retail traffic, anonymised credit card transaction data, or social media sentiment. Knowing where to find it and how to integrate it into your investment process will be a significant differentiator.

Data Vendor Landscape · Data Cleaning & Feature Engineering · Ethical & Privacy Considerations · API Integration (RESTful APIs)

  • This week: Research 2-3 alternative data vendors relevant to your current coverage universe. What data do they offer?
  • This month: Identify one specific investment question that could be answered (or better informed) by an alternative data set. Can you find a free or trial data set to test?
  • Month 2: Work with a junior analyst or quant to integrate a small alternative data set into a basic model or dashboard. Focus on the practical challenges.
  • Month 3: Present a case study to the Investment Committee on how alternative data could have improved a past investment decision (or could inform a future one).

Quick win: Subscribe to newsletters from alternative data providers. Start following thought leaders in this space on LinkedIn. Just get familiar with what's out there.

11Staying current once you are in

What people here do to keep up
  • Regularly attend industry conferences (e.g., CFA UK events, investment summits) to stay abreast of market trends, regulatory changes, and new investment strategies.
  • Actively participate in investment forums or professional networks to debate ideas and expand your network.
  • Commit to continuous self-study of academic research papers in finance and economics to deepen your theoretical understanding.
  • Seek out mentorship from more senior Portfolio Managers or CIOs, both internally and externally, to learn from their experience.

12The rising capability

The rising capability

Zavmo analysis

What's rising in its place

This is where the work is heading, and the higher pay with it. Get fluent here and the shift stops being a threat and starts being your edge.

Prompt Engineering & LLM Integration

Competitors are already using Large Language Models (LLMs) like GPT and Claude to draft reports in 10 minutes that used to take 2 hours, or to summarise earnings calls in seconds. Portfolio Managers who figure this out will outproduce their peers significantly. This isn't future-gazing; it's happening now.

  • Context Windows & Token Limits
  • Temperature Settings for Different Tasks
  • RAG (Retrieval Augmented Generation) Architectures
  • Output Validation & Hallucination Detection
  • Prompt Chaining for Complex Analysis

Advanced Data Visualisation & Storytelling

With the explosion of data, the ability to distil complex insights into clear, compelling visual narratives is becoming paramount. Investment committees and clients are increasingly time-poor; they need to grasp your thesis quickly and intuitively. Generic charts just won't cut it anymore.

  • Interactive Dashboards (e.g., Tableau, Power BI)
  • Narrative Visualisation
  • Ethical Data Presentation
  • Infographic Design Principles

13What you’ll use

What you’ll use

Skills this role draws on

Technical

  • Security Valuation & Financial Modelling
  • Portfolio Construction & Asset Allocation
  • Quantitative & Risk Management
  • Macroeconomic Analysis
  • Performance Attribution Analysis
  • Behavioural Finance

14The pathway

The pathway

How you actually get there, here

How you become one varies far more by country than what one does. This is the UK route. Most people take one of these ways in; the right one depends on where you're starting from.

  1. 1

    From Senior Analyst (Equity/Fixed Income)

    3-5 years as a Senior Analyst

    Skills to master

    • Deep-dive fundamental research, advanced valuation modelling, strong idea generation, effective communication of investment theses, and a solid understanding of portfolio construction principles.

    You're ready to move on when

    • Consistently generated high-conviction, actionable investment ideas that have contributed positively to fund performance.
    • Demonstrated ability to cover a complex sector or a large universe of securities independently.
    • Proven capacity to mentor junior analysts and lead research projects.
    • Strong grasp of risk management principles and how they apply to portfolio decisions.
  2. 2

    From Research Analyst (Hedge Fund/Asset Manager)

    5-7 years as a Research Analyst

    Skills to master

    • Rigorous due diligence, understanding of long/short strategies, risk-adjusted return analysis, and the ability to operate with a high degree of autonomy in idea generation.

    You're ready to move on when

    • Track record of successful investment recommendations in a high-pressure environment.
    • Ability to independently develop and defend complex investment theses.
    • Experience with both fundamental and quantitative research methods.
    • Strong understanding of how research translates directly into portfolio positioning.
  3. 3

    From Quantitative Analyst (Buy-Side)

    6-8 years as a Quant Analyst

    Skills to master

    • Translating quantitative signals into actionable investment decisions, understanding market microstructure, risk factor modelling, and communicating complex quantitative concepts to fundamental investors.

    You're ready to move on when

    • Developed and implemented successful quantitative trading strategies or alpha signals.
    • Proven ability to bridge the gap between quantitative models and fundamental investment insights.
    • Strong programming skills (Python, R) and experience with large datasets.
    • Desire to take on direct portfolio responsibility and manage capital.

15Where this role leads

The long view: This work can lead to running a whole asset class as a Head of Equities, or shaping firm-wide investment decisions as a Chief Investment Officer.

16Pay and demand

ONS's coding index maps “Portfolio Manager” to more than one occupation, so there is no one median to quote. Rather than pick, here is each one it could be, with its own figure:

  • Business and financial project management professionals £59,834 a year
  • IT project managers £58,373 a year
  • Financial accounts managers £48,980 a year
  • Advertising accounts managers and creative directors £48,977 a year

ONS Annual Survey of Hours and Earnings, from the April 2025 survey, about six months old when published, as ASHE always is, under the Open Government Licence.

The ten Future Fluencies

Zavmo analysis

The credential is what you can do today. These are what keep you valuable.

A qualification proves you can do the job as it's defined today. These ten are what decide whether you're still the obvious person for it in five years. They're the capabilities employers are now writing into senior roles faster than people are learning them. Zavmo weaves them through whatever you study, so you come out with both: the credential and the fluency.

The highlighted ones are the Fluencies your role leans on hardest, from how Portfolio Manager is actually changing.

How you would learn this

One to one, on the work you already do

A tutor sets the task against your own job and marks the reasoning, at your pace. There is no cohort to fall behind.

A lesson from Derivatives, worked against Portfolio Manager.

Derivatives Level 4

Applied to your work in Portfolio Manager

This unit aims to provide learners with a thorough understanding of derivatives, their markets, and key participants. Learners will gain knowledge of underlying assets, exchange-traded futures and options, and over-the-counter derivatives, including their mechanics, pricing, and uses for hedging and speculation.

How the thinking builds
  1. 1 Remember
  2. 2 Understand
  3. 3 Apply
  4. 4 Analyse
  5. 5 Evaluate
  6. 6 Create
An illustration of a Zavmo lesson, built from this role’s own route. The unit, its objective and every criterion above are the awarding body’s own words, not an example.

It is £70 a month, billed monthly. Your free first module is Future Fluency, and you can cancel any time.

See Your Progress Grow Illustration
Portfolio Manager
  • Security Valuation & Financial Modelling
  • Portfolio Construction & Asset Allocation
  • Quantitative & Risk Management
  • Macroeconomic Analysis
  • Performance Attribution Analysis
  • Behavioural Finance
This is your Mind Palace on learn.zavmo.ai. Every skill above comes from this role's own record, not an example borrowed from another job. A node lights up when you evidence it, and what you build stays yours between jobs. That is the part a course cannot do.

17The detail, folded away

Everything else the record holds

The career branches in full, how AI is already showing up in the day-to-day, and the questions people ask about this job. Here when you want them, out of the way while you decide.

Where it leads next, rung by rung

Where it leads

The career path, and where it branches

Portfolio Manager is a start, not a ceiling. Each step below asks for new skills and hands back more autonomy.

  1. Senior Portfolio Manager

    3-5 years in this role

    L5 (Principal/Manager)

    • Managing larger, more complex funds or multiple funds with diverse mandates.
    • Deeper involvement in firm-wide asset allocation decisions and macroeconomic strategy.
    • Potentially managing a broader range of asset classes or more complex derivatives.
    • Representing the firm externally as a thought leader in your asset class.
Working with AI on the job

Working with AI

Where AI is starting to help

Let's be real, the world of investment management is changing fast. AI isn't just a buzzword; it's a powerful co-pilot that can free you up from the grunt work, letting you focus on what actually matters: generating alpha. Think of it as having an army of junior analysts working 24/7, tirelessly sifting through data and drafting reports.

For a Portfolio Manager, AI means less time buried in tedious data aggregation and more time on high-conviction idea generation, deep strategic thinking, and client engagement. We're not talking about replacing your brain; we're talking about augmenting it. This is about making you a more efficient, more insightful investor.

Automated Diligence Screener

Imagine using Natural Language Processing (NLP) to scan thousands of 10-K/10-Q filings, identifying red flags like subtle changes in accounting language, unusual related-party transactions, or non-GAAP metric manipulation. This tool digs into the footnotes so you don't have to, flagging what's truly important.

Earnings Call Sentiment Analysis

An AI tool that analyses the transcripts of management earnings calls, tracking sentiment shifts, measuring talk-time versus listen-time, and flagging evasive language or changes in key themes over time. Get a quick, objective read on management's tone and confidence without listening to every single call.

Macro & Geo-Political Summariser

A custom AI agent that ingests hundreds of news sources, central bank reports, and geopolitical analysis daily, providing a concise, synthesised morning brief tailored to your portfolio's specific exposures. No more drowning in news feeds; get the signal, not the noise, before the market opens.

Investor Commentary First Draft

Generate a first draft of your quarterly investor letter by feeding the AI your portfolio's performance attribution report and key market events. The AI structures the narrative, highlights key drivers, and even suggests explanations, which you then refine with your unique insights and strategic messaging. This saves hours of staring at a blank page.

Common questions

Common questions

How do you become a Portfolio Manager?

Common routes in include From Senior Analyst (Equity/Fixed Income) (3-5 years as a Senior Analyst), From Research Analyst (Hedge Fund/Asset Manager) (5-7 years as a Research Analyst) and From Quantitative Analyst (Buy-Side) (6-8 years as a Quant Analyst). Times vary with prior experience.

Where can a Portfolio Manager progress to?

This role can lead on to Senior Portfolio Manager (3-5 years in this role), depending on the skills you build.

What new skills matter most for a Portfolio Manager?

Increasingly, Prompt Engineering & LLM Integration and Advanced Data Visualisation & Storytelling. These are the skills our record of this role lists as growing.

Free tools

Want a read on where you stand?

Three free tools, no account needed. Each one ends with a role, a level and a way in.

18Where to go from here

Other roles at Level 4

Same depth of qualification, different job. Useful if the work appeals but this particular role does not.

More jobs in finance

Stay in the field you know and move sideways rather than up.

If you leave this industry

The analytical and decision-making skills built as a portfolio manager transfer well. Paths can lead to a hedge fund, working long/short equity or global macro strategies. Others lead to private equity, focused on public market investments or deal sourcing. Some move into a corporate treasury role, managing internal capital. The core skills apply across all of these.

This role profile is © 2026 Growth Engineering Technologies Ltd. Built from UK occupational standards and regulated qualification data, and written for Zavmo.

You're not behind. You're right on time. The shift is only just beginning. Your role won't look the same in two years. Be the one who leads the change, not the one it happens to. Start my free AI Fluency module What happens next: a free account, then we build your plan as you set up. No card. Build your plan, see your roadmap and meet the twelve tutors matched to you. All free. When you're ready to start learning, it's £70 a month, billed monthly. Cancel any time and billing stops.