UK and Canadian stocks online
Merrill Lynch and HSBC’s joint venture investment site is the first to offer investors access to the UK and Canadian stock markets.
In a joint venture late last year, financial services groups, Merrill Lynch and HSBC joined forces to provide investors with an online service package called the Investment and Banking Portfolio (IBP).
IBP is a global online banking and investment service targeted at Internet savvy investors. The service gives investors access to more than 300 managed funds with links to individual fund research, fund features, prospectuses and Morningstar ratings.
Fund managers featured on the site include BT, AMP and Colonial to name a few.
"This is not the offering for first time investors. It is for self directed investors who want to make their own decisions," says Merrill Lynch HSBC chief executive officer Scott Walters.
He says the site also provides analyst research from Merrill Lynch and HSBC; access to local and international news; an investor learning centre and access to 15 international exchanges.
HSBC and Merrill Lynch are still separate companies outside of the joint IBP venture. However, HSBC's invests direct web site was sold under the deal.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
