(Alliance News) - CMC Markets PLC will launch a new wealth platform aimed at eating into the market shares of the likes of Hargreaves Lansdown PLC and AJ Bell PLC, Sky News reported on Wednesday.
The plans may be announced with CMC's annual results on Thursday. The company, founded by tycoon Peter Cruddas, currently provides spread betting and contracts-for-difference services.
Sky News added the wealth platform, CMC Wealth, will offer access to ISAs, third-party funds and self-invested personal pensions. It could be launched as soon as the end of the year,
https://news.sky.com/story/cmc-tycoon-cruddas-targets-hargreaves-lansdown-with-new-investment-platform-12328796
CMC Markets shares closed up 0.5% at 489.00 pence each in London on Wednesday.
By Eric Cunha; ericcunha@alliancenews.com
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Hargreaves Lansdown (HL.)
CMC Markets (CMCX)
AJ Bell (AJB)
