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Informed Choice to launch execution-only platform in 2013
by Jun Merrett on Dec 04, 2012 at 13:08
Guildford-based Informed Choice is set to launch an execution-only platform in 2013.
The firm has tied up with an investment manager to white label its platform offering to target mass market clients with around £20,000 to £40,000 of assets.
The platform, called IC Direct, is currently in development stages and is due to be launched in March 2013 and will have one flat cost which aims to be the cheapest offering in the market.
'We see it as targeting a different segment,’ he said. ‘Our clients typically have £300,000 in assets under management. This will enable us to service the mass market. We've got a lot of marketing plans to get those clients and it will be very social media-driven.
‘We do think the fee structure is simple and clear and it will hopefully shake up the competition in the execution only space. There won't be any murky or hidden payments or loyalty payments, just one simple upfront charge for the platform and one for the fund manager and a guarantee it will always be the lowest available cost.'
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