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
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
