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
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
