Kuber Ventures has launched a platform which it says enables advisers to review, compare, invest and report on Enterprise Investment Scheme portfolios.
The Kuber platform has partnered with research firm Allenbridge to provide due diligence for advisers across a range of EIS funds.
The front end and reporting portal of the platform have been built with technology provider Digital Keystone.
The platform applies a fee of £20 per regular contribution or £100 per single contribution with an initial charge of 1.5 per cent and an annual charge of 0.5 per cent.
There is a £5 administration charge per EIS 3 certificate.
Kuber says most fund managers discount their fees to compensate for its initial charge and cover the annual fee.
Kuber Ventures partner Dermot Campbell says: “Investors are beginning to focus on EIS for many reasons, including the tightening of the pension rules, and the new opportunity for UK resident and non domicile individuals to remit overseas income and gains tax free to the UK.”
Enterprise Investment Scheme Association chairman Lord Flight says: “In much the same way that fund platforms increased demand in the mutual fund industry by promoting the asset class to a much wider audience, Kuber is set to do the same for EIS investment. There are lots of parallels. Kuber will bring simplified processes and portfolio construction to EIS investing, as fund platforms did in the mutual space.”
The Platforum head of adviser platforms Freddie Findlater says: “Enterprise Investment Schemes have not been prevalent in the traditional platform space possible due to the fact they have always had a limit to their appeal. Incrased tax wrapper options should be encouraged however, the challenge for Kuber will be making advisers feel confident in investing in potentially unfamiliar schemes.”