Direct platform for JPJShare
Share
JPJShare.com has launched a direct-to-consumer fund platform for investors.
The execution-only stockbroker will offer access to more than 2,000 funds, of which more than 80 per cent will charge no initial fee.
The platform says it will rebate 0.25 per cent of the 0.5 per cent trail it takes from fund groups annually to both new and existing investors. It will cap its share of trail commission at £500.
Chief executive Brian Gould says: “We believe in charging our customers a fair price for all the services we provide. The JPJShare.com tank is parked on the lawns of other firms that do not offer what we believe to be a fair deal to their customers.”
CandidMoney.com founder Justin Modray says: “You could argue it is a bit late in the day to launch this offering with the likes of Hargreaves Lansdown and a number of other big players in the space. There is still an opportunity in this market but you need deep pockets. You could also argue that this proposition is not as market-leading as others in the area.”
Chelsea Financial Services managing director Darius McDermott says: “I think it is late to get into the market on these terms. Lots of providers offer no initial fee on all their funds. JPJShare.com will need to work hard to build capacity.”
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