Online broker Discount Investments has teamed up with Stocktrade to offer Pep and Isa consolidation ...
Online broker Discount Investments has teamed up with Stocktrade to offer Pep and Isa consolidation services.
The products, called UltimateIsa and UltimatePep, offer access to any unit trust or Oeic from any investment house and the ability to invest up to 50% of the portfolio in UK equities, investment trusts and fixed interest securities. Under the service, a client's Pep or Isa portfolio would be consolidated under a single admin umbrella.
The products have a £22 dealing charge and a flat annual fee of £30 plus VAT. Stocktrade said the initial charge on most unit trusts and Oeics for those investors using the services will fall to 0.5%.
Ian Jarvis, managing director at Discount Investments, said: 'Unlike other multi-manager Isa and Pep products, we can ensure that no investment house will be removed or excluded from the Isa/Pep wrapper and that all new funds will immediately be available within the wrapper.
'This approach ensures that investors are not restricted to a pre-determined range of funds as is the case with most current multi-manager products.'
The products also offer free quarterly payments of income by BACS and transfers in or out may be in stocks or in cash.
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