Execution only investors offered a new deal
Investors who buy without taking financial advice are now being offered a new deal from TQ Invest, offering initial commission discounts and trail rebates when joining their ‘Premier Club'.
Torquil Clark launches their new execution only dealing service with a brand new name, image and website. The new TQ Invest now offers investors a comprehensive website offering in depth information and research, as well as a simple online buying process supported by a knowledgeable call centre.
The launch of this new deal provides fresh competition into the market, offering more choice for investors.
By joining TQ Invest Premier Club members gain access to their own personal wealth management area of the new website and an annual cashback rebate on all initial commission and trail paid on their portfolio, in return for a set annual minimum income paid to TQ Invest. This minimum income fee for membership is typically deducted from the annual cashback. This fee is tiered according to the size of a portfolio and clearly published on their website.
For a client with £150,000 invested in ISAs and Investment Funds, such as Unit Trusts and OEICS) either through Cofunds or FundsNetwork platforms, the full annual commission paid could be as much as £750 depending on the funds invested in. That is on top of any savings paid via the discounts given on fund manager initial charges. TQ Invest will keep a minimum amount, on this portfolio it would be £400.
In addition, if this client then invests in a product normally paying an up-front commission, TQ Invest will give back 1% as cashback, with the rest put back into the investment. So in this example, on top of the £750 cashback, if they then invest £10,000 which would normally pay 3% commission, £100 would be paid in extra cashback and £200 paid back into their investment.
The new website provides access to market leading research tools and a simple buying process with a shopping basket transaction process. More fund choice is now available, with TQ Invest offering the option to buy from two platforms, Cofunds and Fundsnetwork.
As a member of the ‘Premier Club' members are able to access their personal ‘My wealth' page through a secure website. This provides accurate information on current value of their platform holdings, a list of all their other investments held with TQ Invest and provides the tools for investors to input other information such as cash savings, mortgage equity and pension fund value to provide a total personal wealth value.
John Chapman, Managing Director of Torquil Clark said; "Investors who don't need to take independent financial advice are looking for a combination of price and service. With an online service, they want the tools to be able to make informed decisions and manage their wealth and the support of a knowledgeable UK based call centre.
"We carried out extensive research before launching our new proposition. The launch of the Premier Club providing cashback on commission and trail, as well as a new website with access to a personalised ‘My wealth' interactive page, delivers exactly what many investors are currently looking for.
"Our launch offer of £50 cashback if you join the Premier Club before the 5th April 2010 makes this an even more attractive proposition and is already proving popular."