norwichunion.com has launched an online share dealing service and a fund supermarket Isa.
norwichunion.com has launched an online share dealing service and a fund supermarket Isa.
These two new products are designed for people who want to take a more active role in managing their finances.
norwichunion.com's online share dealing service is keenly priced - with an introductory offer of just £5 a trade - and enables customers to buy and sell online. There is a competitive quarterly fee of just £9.95.
The fund supermarket Isa offers investors a "pick 'n' mix" approach to funds. There are around 70 funds all of which have a Standard & Poor's A, AA or AAA rating and over the last five years have out performed the average in their sectors by 61 per cent1. Charges are 75 per cent less than some more conventional channels.2
Standard & Poor's has proven that, on average, 72 per cent of S&P rated funds, subject to its ongoing monitoring process, have gone on to achieve above average performance over a two-year period.3
Inexperienced investors can 'try before they buy' using 'virtual' portfolios of shares or funds, without having to commit any of their own money. This allows them to monitor performance and get to grips with investing online before actively making any financial commitments.
Despite been driven by the latest technology norwichunion.com is keen to retain the personal touch with customers able to talk to a contact centre manned by qualified consultants if they need help or guidance.
Commenting on the launch, Rob Davies, brand manager, norwichunion.com, said: "Research shows that while eight million people have researched financial products online, less than four per cent have actually bought an investment product online4. Most will undoubtedly be put off by the complexity and almost elitist qualifying criteria of some share dealing services.
"However we aim to appeal to everyone - from novice investors to experienced day traders - and are confident that the competitive pricing and ease of use will prove popular."
The service also provides customers with a wealth of jargon free impartial information, financial planning tools, designed to make their decision-making easier and more personal.
norwichunion.com's online share dealing service and fund supermarket Isa can only be found at www.norwichunion.com.
The fund supermarket is operated by NUSOF.com limited.
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Press contact:
David Ross at Norwich Union on 08703 66 68 65
1 Source: Norwich Union: Five year performance to 31/12/01. Average performance of the funds in the Norwich Union Fund Supermarket Isa against the weighted average of the AUTIF sectors in which they are invested. Figures quoted on an offer to bid, net income reinvested basis. The Fund Supermarket became available December 2001. Therefore the performance illustrated is not the actual performance of our Fund Supermarket, but shows the performance of the funds now available.
2 Source: Norwich Union: Modal average initial charge of funds in the Norwich Union Fund Supermarket Isa is 1.25%. Modal average quoted by the fund managers for these funds is 5.25%.
3 Source: Standard & Poor's
4 Source: Forrester (published January 2001) 3% share dealing and 1% investment funds
Notes to editors
- norwichunion.com was launched in May 2001 and provides a comprehensive range of free, interactive financial planning tools and impartial money guides, designed to help people make better financial decisions by making complex money matters simple.
- A fund supermarket Isa and share dealing service are the first in a range of products that will subsequently include a number of banking products.
- Norwich Union is the UK’s largest insurer offering a comprehensive range of long-term savings and general insurance products.
- Norwich Union’s news releases are available on this internet site
- A selection of images are available from the Norwich Union Newscast site at www.newscast.co.uk
- An ISDN facility is available for studio quality interviews. Call the press office on 08703 66 68 68
For life and pension media enquiries 08703 66 68 73 For all other media enquiries 08703 66 68 68
Please remember that past performance is no guide to future performance. These are risk investments and their value, and any income from them can go down as well as up.
The norwichunion.com online share dealing service is provided by Pershing Securities Limited (Pershing) who are regulated by the Financial Services Authority. By using the service, customers will form a contract with Pershing and all share trades effected by customers will be with Pershing. To market the service, Norwich Union Wealth Management Limited is regulated by the Financial Services Authority for investment business.