Investonline.co.za launches online portal
The company is headed by Nick Brummer, a former director at HSBC Securities and Deutsche Securities, and fellow director Rod Lowe, former wealth management specialist at Nedbank Private Bank, HSBC Securities and Syfrets Private Bank.
According to Brummer, the company aims to change the way retail investment products are sold in South Africa.
He said one of the key benefits of investing via an online platform is the much cheaper cost structure.
"Investonline.co.za has no upfront fees as we pass on the wholesale price of unit trusts to our clients. This provides substantial savings compared with traditional investment advice routes, who typically charge between 2% to 3% upfront," Brummer said.
Brummer said that by removing the upfront fee consumers are effectively now in charge of their own investment portfolios via the website.
"Not only do we offer transparent access to a range of underlying unit trust funds, but clients are also able to switch freely between underlying funds and to construct portfolios at a very cost-effective price."
"investonline.co.za is not affiliated to any particular provider, which allows us to provide truly independent advice.
The portfolios we have chosen are well diversified and independently selected to ensure that we can offer all our clients a portfolio that meets their individual needs," Brummer said.
The company said it has structured a range of risk profiled and diversified unit trust investment portfolios from the top-performing unit trust providers in South Africa, including Allan Gray, Coronation Fund Managers, Flagship, Foord, Futuregrowth, Investec, Nedgroup Investments, Prudential, RMB, Sanlam Investment Management and Stanlib.
It said the underlying investment platform is managed by Allan Gray Investment Services, who provide all administration services to clients.
"We have also developed a personalised Risk Profiler tool, which is mandatory for clients to ensure they invest in the correct underlying portfolio of funds that best suits their specific objectives," said Lowe.
Source: I-Net Bridge
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