28 Feb 2013 15:53
Share plc
The Share Centre makes its move
in advance of 2014 RDR 2 deadline
Share plc, parent company of The Share Centre, published its preliminary results for the year ended 31 December 2012 and reported that it was adopting a new approach to funds. Gavin Oldham, chief executive, explains the benefits to investors and how this will be achieved.
"We fully support the FSA's drive for greater transparency and fairness in investor charges and we will therefore take action well in front of potential regulatory change.
"It is our intention that starting from the end of May, as and when new 'clean classes' of funds - lower charges and no commission payments to introducers - become available, to convert our customers' holdings automatically to these more beneficial funds on the next ex-dividend date.
"We have chosen this route to avoid creating potential capital gains tax liability for our customers which could otherwise be incurred by switching and we will not charge for this service. If customers wish to switch into 'clean class' funds earlier than the ex-dividend date, they may do so although we cannot advise on any tax outcomes and normal dealing charges will apply.
"Our account charges are currently under review, but this will not affect our decision to convert customers into funds with lower charges and no trail commission as soon as is practical and in an efficient manner.
"We're determined to implement this policy ahead of the FSA's potential rule change and before we need to, in order to deliver an early benefit to our customers."
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For further information please contact:
Gavin Oldham - Chief Executive | 01296 439 100 / 07767 337 696 |
Richard Stone - Finance Director | 01296 439 270 |
Stephanie Reynolds - PR Manager | 01296 439 256 |
Biddicks Financial PR | 020 3178 6378 |
Zoe Biddick / Katie Tzouliadis |
2012
The Share Centre was awarded highest overall client satisfaction; best value for money and best trading platform in the 2012 Investment Trends Survey - an online broking survey conducted amongst 25,588 UK investors.
2011
Best Online Stockbroker - Financial Times and Investors ChronicleBest Online ISA Provider - MoneyAMBest Small Cap Broker 2011 - Shares MagazineHighest overall client satisfaction award - Investment Trends
2010
Best Small Cap Broker 2010 - Shares MagazineBest Online Funds Service 2010 - MoneyAM
Risk Warnings:
Investing in general, and the products and services mentioned above may not be suitable for all: if in doubt, individuals should seek independent financial advice. The value of investments and the income from them can go down as well as up and investors may not get back their original investment. Past performance is not a reliable indicator of future performance.
The bases and levels of taxation relating to ISAs, CTFs and SIPPs are subject to change and the value of these tax allowances may depend upon the circumstances of the individual.
About The Share Centre:
The Share Centre was established in 1990 to provide value-for-money share services for private investors. Its range of services includes buying and selling shares (by Internet, telephone and post) and a comprehensive share administration and safe custody service. Tax-efficient investment 'wrappers' including ISAs, CTFs and SIPPs are also available.
The Share Centre's Advice team provides comment on market sectors, individual shares and funds on www.share.com. Access is available to customers and registered users of the site. Registration is free. To understand how our Advice team arrive at their views please read our Investment Research Policy. The Share Centre blog is also available at http://blog.share.com.
In addition, account customers can receive individual telephone advice on UK-listed shares.
The Share Centre Limited is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority under reference 146768.
Registered in England No. 2461949. Registered office: Oxford House, Oxford Road, Aylesbury, Bucks. HP21 8SZ.