EMX is to waive charges to providers for six months in an attempt to boost usage of its messaging sy...
EMX is to waive charges to providers for six months in an attempt to boost usage of its messaging system, writes Mohamed Ali Bernat.
The company will offer a free six-month trial to providers, with the charges payable if the provider takes up the service after the trial period.
Normal charges will apply after this.
EMX chief executive Caroline Lee said: "Providers will continue to pay transfer charges but the minimum £10,000 fee will not be paid as normal but collected when the service is taken up after the trial."
The move follows the company's December decision to remove tariffs for all intermediaries using the system after it admitted traffic levels were below expectations.
EMX expects to have another 20 IFAs subscribing by the end of January and Lee added the company was confident providers would find it worth their while to stay on the system. The offer expires on 31 March and Lee said she hoped it would spur providers to try out the system.
Exit fees and conversions
Initial FOC of 0.6%
Former PFS president
Last commission convened in 2002