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Chartwell founder&#39s commission-free investment service

A founding director of Chartwell Investment Man-agement is setting up

a new commission-free investment service targeted at execution-only

investors.

The Discount Club is being started by managing director Martyn Laverick.

Club members will pay an annual fee to join but will then be rebated

all initial and trail commission payments when investing in funds.

If a member&#39s commission savings are less than the initial fees they

have paid, the club will refund the difference.

The club will allow members to buy lump-sum unit trusts, Oeics, Isas,

life insurance bonds, guaranteed income bonds, personal pension funds

and pension transfers, UK registered offshore funds, VCTs and

annuities.

The service will offer consolidated six-monthly portfolio valuations online.

Laverick says: “The current discount broker market is still

commission based which does not treat individuals equally.

“After all, it takes no more time to process an investment of

£25,000 than it does for one of £5,000. So is it fair that

the broker keeps more of your money? The Discount Club seeks to

return all commission to the customer.”

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