Your Prosperity opens up fund entry
Your Prosperity, the Lend Lease online investment website, has revamped its service to offer entry into its master fund and share trading without advice.
Previously, everybody subscribing to the service had to take advice, but Your Prosperity chief executive John Reid says the company has discovered a growing audience for a straight investment service.
"The online market is broadening," he says. "A lot of people are telling us they value our portfolio management service the most and we have moved to meet that demand with a comprehensive package of changes."
The changes include scrapping the minimum monthly fee, offering managed funds at wholesale rates, no entry or exit fees, a flat $29 share trading fee and a new $1300 minimum investment limit. Research is now optional and paid for separately and advice is offered on a fee-for-service basis.
The website is also providing a free tracker product that allows investors to have the performance of their assets monitored and updated on a daily basis.
"Investors can use our Asset Tracker service on an on-going basis for free or they can use it as a transition to the more powerful Your Prosperity portfolio management service."
Reid says the site is now aimed at three core markets - managed fund investors, new investors and DIY superannuation funds.
"The next area for growth for online services is in portfolio management where investors seek support to effectively manage diverse investments," he says.
"Our customer feedback and market research, as well as the US experience, shows an evolving Australian market using the Internet to manage portfolios rather than for cheap trades."
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