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Interactive Investor aims to be sole provider of online share trading for IFAs

Interactive Investor is planning an expansion backed by £8m of venture capital to make it the sole provider of electronic share trading for all IFAs and stockbrokers by next summer.

The company believes that it can steal a march over other on-line rivals as the only company offering such a service.

It is currently running a pilot of the service with investment bank Dresdner RCM.

Interactive Investor says the system is quicker, cheaper and more reliable than current methods of trading because it removes the need for paper-based back office administration.

It has secured £8m of funding from Hollinger Digital, a venture capital subsidiary of newspaper holding company Hollinger International. The group&#39s titles include the Daily and Sunday Telegraph.


CML and MCRI condemn Consumers&#39 Association for premature accusations

The Council of Mortgage Lenders and Mortgage Council Register of Intermediaries have hit out at the Consumer Association for being premature in branding the mortgage code a failure.They say the voluntary code which was launched in July 1997 has not been in operation long enough to be judged a success or failure.They say the code […]

C&G cuts rates on two investment accounts

Cheltenham & Gloucester is cutting the interest rates on two of its premier investment accounts.The Direct Transfer telephone account will pay 6.5 per cent gross per year on the top tier of £25,000 or more. It will pay 6.3 per cent on the lowest balance of £2,500.Investors in Branch 10 will receive an annual gross […]

Heath confident of phase two deal for Christmas

IFA Association director general Garry Heath is aiming for agreement on a new formula for dealing with the pension review phase two by December 17.Heath has been in a series of meetings with trade bodies and regulators over his plans. He will continue these next week, maintaining he is confident of a deal.

Developing your personal relationships – Webex

Read more 9amFinancial advisers and solicitors working together Presented by Ian Muirhead, director & chairman at Solicitors for Impartial Advice (SIFA) Listen to Ian’s expert insight and experiences of how financial advisers and solicitors can work together to deliver mutual benefit and enhanced client outcomes. Register here 10am Financial advisers and accountants working together Presented […]


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