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Informed Choice plans execution-only platform launch

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Informed Choice is launching an online execution-only investment platform early next year.

The advice firm has been working on the proposition, called IC Direct, for six months and plans to launch in March.

Informed Choice managing director Martin Bamford (pictured) says the fee structure for the platform has not yet been finalised.

He says: “We are going big on this. It will combine a series of low charges with full transparency.

“We are going to apply the standards that are coming into force for the advisory market to our execution-only proposition. There will be a clear charge for the platform and a clear charge for the fund manager.”

The move comes as research from Schroders shows 53 per cent of advisers plan to offer basic advice or an execution-only service post-RDR.

The survey of 224 advisers shows 14 per cent say they will offer execution-only services, 39 per cent say they will offer basic advice and/or execution-only services and 46 per cent say they will not offer these services to clients.

Philip J Milton & Company managing director Philip Milton says: “I hope we get to a stage where there is some fluidity that allows advisers to offer clients simplified advice without the regulatory burden of full advice, which currently makes it unaffordable to provide.”

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