Advisers are now able to build, run and trade share portfolios as actively as a fund manager - but with trades costing as little as 50p, a fraction of the usual cost, a firm has said.
Discount broker Clubfinance said IFAs using its Frequent Trader service to buy 50 shares and make 60 share deals in a year - the Lipper average for an actively-managed UK fund - could save hundreds over a mutual fund. Director said David Scrivens said while the opportunity was a "tricky one" for advisers to get right, it had seen IFAs using the service that launched in July in a number of different ways. "Some are white-labeling and offering it to clients as a direct service, others are using it as Clubfinance service and charging a fee," he said. The most popular had been to offer...
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