continued from page 1 The shares of trusts, either participating in the 'its' campaign or share issu...
continued from page 1
The shares of trusts, either participating in the 'its' campaign or share issue from the joint venture, would be offered to IFAs free of all dealing charges.
The generic products will be available to IFAs either by post or the internet with the minimum lump sum payment being £1,000. From the administration point of view the purchase of unit trusts will be directly from managers or using Emx where possible.
Godfrey added: "Discounts will be negotiated with individual managers and we expect to receive discounts on most or all of the initial charge of the products."
Shares in investment trusts will be bought by a dedicated dealer using a variety agency brokers and market makers or a single market maker to ensure best execution.
Godfrey also hopes the operation will offer after sales services, such as looking performance data of trusts invested by IFAs for clients via the internet as well as a switching service.
Godfrey has asked members of the trade body to respond to his proposals by late August.
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